Case Study: NerdWallet

Background

Aspiring to become a go-to source for consumer financial advice and financial literacy education, NerdWallet searched for agency partners to accelerate its brand awareness and attract investors. While the brand had some early popularity because of their credit card analysis platform, there was a large opportunity to humanize and further cement the brand among consumers and reach untapped verticals such as healthcare and retail, where there was a lack of transparency around medical billing and true seasonal savings, respectively.

In multiple noisy and scattered new markets with little consumer education around the real need for a service they provided, NerdWallet looked to members of the Karbo team to bolster the brand among consumer targets and attract investors for a Series A funding round.

Objectives

• Educate the market about the lack of transparency and resources available to consumers, with a focus around finances and retail.
• Increase brand trust and awareness for NerdWallet as a one-stop-shop for financial literacy resources across all verticals.
• Drive website and platform use with new consumer audiences in the U.S.
• Attract VCs and potential investors for a Series A funding round.

Execution

The team decided on a brand strategy that included creating thought leadership around financial literacy across verticals leveraging survey/report data and establishing a trusted brand -persona. The team recommended expansion of the site’s content to create expanded value and additional revenue streams. A NerdWallet spokesperson was positioned as a personal finance authority on various seasonal money-saving campaigns and released a medical billing study as well as a Black Friday sale study to drive awareness for NerdWallet’s health vertical tools and retail expertise.

Results

Within a few months of working together, the team secured interviews with top reporters writing on healthcare and consumer retail interests. Additionally, the team placed the spokesperson in top tier consumer, finance and broadcast segments, including the Today Show, where branded NerdWallet financial advice was showcased. The exposure successfully pivoted NerdWallet from being perceived as a one-dimensional source for credit card insights to a reputable resource for all-things related to personal finance, financial literacy, advisors, and tools across several verticals. Outreach around the medical billing and Black Friday studies resulted in a combined 190 pieces of coverage from media including top-tier national, finance, trade, and consumer press before NerdWallet announced a Series A funding round of $64 Million.