EXCLUSIVE: Revolut & The Sidemen – Financial Supergiants Turning To Youtubers & Social Media?
When I started writing in the fintech industry, Revolut was the first company I was exposed to. So you can imagine my surprise when I saw that the financial superapp had partnered with the Sidemen, a group of Youtubers consisting of internet personalities KSI, Miniminter, Zerkaa, TBJZL, Behzinga, Vikkstar123, and W2S. The group have amassed 130 million followers combined, one being myself since the age of 12! This partnership is modern, creative and it provides an answer to a key question; why are financial institutions increasingly turning towards non-financial brands? Let’s explore the collaboration and what it says about the wider industry too.
Revolut have collaborated with the Sidemen to launch two new cards with plenty of perks for those who follow the group. Not only do the benefits of the Revolut card include the traditional features of no hidden fees and providing the best exchange rates, the Sidemen cards give customers 10% cashback on all Sidemen brands including XIX Vodka, SDMN clothing, Sides restaurants.
The limited edition cards, available on the Revolut app from July 16th 2022, will also give customers 3 months of Side+, Sidemen’s exclusive membership community for free (subject to T&C’s).
When it comes to pricing, customers can choose the Standard/Free Revolut plan to buy the Standard Sidemen card for £10.99, or subscribe to the Metal Revolut plan for £12.99 per month and get the Metal Sidemen card for free. Existing Metal customers can purchase the Metal Sidemen card for £39.99.
Shirin Krall, Revolut Global Head of Retail Marketing, shared how the company is “having followed the Sidemen for some time, we believe that there is a lot of resonance between the Revolut and Sidemen brands and we’re excited to see them come together for this “defy expectations” campaign.
The Sidemen expressed how they “are thrilled to announce our new partnership with Revolut, enabling fans around the world to get big cashback across our brands through our new SDMN card. We’re excited to finally launch this, and we thank Revolut massively for the support in making this happen.”
The partnership is clearly an interesting project, but why are more and more financial institutions in collaboration with non financial brands?
Social media marketing may play an increasingly important role in the onboarding process, hence why Revolut and the Sidemen make a perfect match for each other. Digital marketing budgets in the banking sector have definitely risen in recent times, as financial marketers refine their strategies in more and more access points to customers — particularly on mobile devices.
In fact, worldwide digital advertising spending totaled $521.02 billion in 2021, which is projected to climb 68% to reach $876 billion by 2026. When you see figures like this, it becomes clear that collaborating with one of the biggest YouTube groups in history can offer you tremendous value and return on investment from that advertising.
It’s important to understand that this is also a symbiotic relationship. With the launch of multiple entrepreneurial ventures like their XIX Vodka, the Sidemen are clearly looking to enhance their profitability, and so partnering with a financial supergiant will obviously be a tremendous boost in pursuit of that mission. Ultimately, non-financial brands also need to diversify their operations, and in an increasingly embedded financial world, it makes sense to include financial offerings when appropriate, especially if it’s with a force like Revolut!
As we look to the future, we’ll no doubt continue to see greater emphasis on collaborations like these, where non-financial brands and financial supergiants cooperate together to provide a seamless and exciting product for a wider market.