Moneysupermarket.com Group PLC (LSE: Ã, MONY) is a UK-based price comparison website business specializing in financial services. The website allows consumers to compare prices on various products, including mortgages, credit cards, and loans. The company also purchased MoneySavingExpert.com for Ã, Â £ 80 million from Martin Lewis in 2012, becoming a subsidiary of Moneysupermarket.
Moneysupermarket is listed on the London Stock Exchange and is a constituency of the FTSE 250 Index.
Video Moneysupermarket.com
History
Simon Nixon founded two businesses in the mortgage market in the late 1980s, which eventually became the Moneysupermarket. It began when he set up a mortgage subscription business in 1987. Nixon was a student at Nottingham University who studied accounting, while also working on selling mortgages. While working in that role, he noticed after a few months there was no easy way for brokers to compare all available mortgage deals. He works nights and weekends setting up the best tables so he can send information to those who need them. He started it as a free service, before charging a subscription in Ã, Â £ 11 for two weeks. After two years of business, Nixon earns $ 10,000 a month from his subscription business, offering post mortgage advice.
In 1989, he persuaded Duncan Cameron to quit his IT degree at Liverpool University and help him grow the business. Together they formed the Mortgage 2000 only when computers and the Internet became routine fixtures in offices throughout the UK. Mortgage 2000 is intended for accounting firms and financial advisors who have access to the Internet. Instead of offering only two-week updates by mail, customers can login and check transactions directly through Mortgage 2000. Statistics are updated daily, not two weeks.
This expansion is very successful in the financial sector in the UK. In the late 1990s, the Internet evolved from an office-based service to people's homes. Nixon spoke to The Telegraph about finding an opportunity when Freeserve began offering free access to the Internet for homeowners in 1999 and saw a rapid expansion at Moneysupermarket ever since. Initially this website focused on a number of small comparisons and market sources for personal loans and credit cards. Rather than providing an Independent Financial Advisor with information, Moneysupermarket.com is marketed as a business to a consumer business to complement their Mortgage 2000 offerings. Nixon and Duncan make commissions vary from 30p to Ã, Â £ 30 for different transactions contracted users in the days of the year. As these numbers begin to grow, they close Mortgage 2000 and start offering mortgage comparisons at Moneysupermarket.com.
This leads to tension between the co-founders as Duncan brought on board to run the IT Mortgage 2000 side. Once the potential of Moneysupermarket is realized, Mortgage 2000 has only limited potential. The distant focus of Mortgage 2000 caused Duncan to stop engaging in business in early 2002, but remain as a silent partner in business.
In 2000, Moneysupermarket announced their first major expansion with the launch of Travelsupermarket.com. The website runs the same way as Moneysupermarket, but compares prices for different markets. The pricing for the travel market at that time was not customer-friendly, often giving "the price of" advertising. The initial goal of Travelsupermarket is to provide transparent pricing, illustrating the exact difference between the different prices provided.
In 2006, the group made a pretax profit of £ 11.7 million with revenues of £ 105 million. A year later, The Guardian announced that the site was processing 52% of all price comparisons in the UK. In June 2007, Duncan Cameron sold his 47% stake in the business to one of Simon Nixon's founders for £ 162m. The Guardian notes that for household and car insurance, price comparison sites such as moneysupermarket.com rarely include all products in the market and that price comparison is consequently incomplete. In 2007, The Guardian notes that for household and car insurance, price comparison sites such as moneysupermarket.com rarely include all products in the market and that price comparison is consequently incomplete.
In 2012, Moneysupermarket announced that it had purchased MoneySavingExpert.com in a deal worth Ã, Â £ 87 million. After the acquisition was completed in September of that year, MoneySavingExpert remains as an editorial independent platform, as part of the binding Editorial Code. Its founder, Martin Lewis, announces that he will remain the editor-in-chief of the platform.
Moneysupermarket announced in 2015 that Martin Lewis will sell its 1.6% stake in Moneysupermarket, reducing its overall holdings in the company to 1.5%. Moneysupermarket recruited a new chief executive in October 2016 to replace Peter Plumb, who will leave the group in May 2017. Mark Lewis was announced as the new chief executive and previously served as a retail director at John Lewis. He is expected to become managing director before joining the Moneysupermarket. In an interview with The Guardian he expressed his desire to return to digital retail after working with CollectPlus and eBay before.
Maps Moneysupermarket.com
How it works
From 2003 to 2006, Moneysupermarket experienced ninefold traffic growth. This results in them deploying enterprise management and monitoring systems to track availability and improve internal understanding of user experience.
Sites such as Moneysupermarket collect data directly from merchants that are used to find citations for any given comparison market. Retailers can also provide Moneysupermarket with products and prices by submitting their own listings manually. This will then be matched to the original database so there is no duplication.
Data feed files can also be used to collect data. In this scenario, the merchant will provide Moneysupermarket information electronically in a prescribed format. Like other comparison shopping sites, Moneysupermarket previously used a third party affiliate network to receive aggregate information and data. Another method used is crawling the web for pricing. This effectively eliminates the shipping aspect of small traders, while Moneysupermarket still provides their clients with an accurate price. It is estimated that this method was originally used in the early days of price comparison.
In the last few years, shopping comparison websites like Moneysupermarket have been able to use their inventory data to place reseller prices on their blogs or content websites as advertisements. In return, the website owner will receive a commission percentage from Moneysupermarket. Although this affects the overall commissions earned by Moneysupermarket from merchants, it increases traffic and is now a common method used by comparison websites to drive traffic.
Operation
Moneysupermarket
Simon Nixon founded Moneysupermarket.com, which is a major source of revenue for the Moneysupermarket group. Following the merger of a number of companies beginning in 1989, Nixon formed the largest UK comparison site for insurance, finance, energy and other markets. To date, this is the UK's largest comparison site by revenue.
Travelsupermarket
Travelsupermarket was founded in 2000, as a travel comparison site and a subsidiary of the Moneysupermarket.com group. Initially he competed with sites like Expedia and Skyscanner. In 2005, was named the best online travel company in the UK.
MoneySavingExpert
MoneySavingExpert.com is a subsidiary of the Moneysupermarket group, having been acquired from Martin Lewis in 2012 for a deal in the Ã, Â £ 87 million region. It was established in February 2003, after Lewis believed the UK needed resources to provide basic financial advice. The site has grown to attract 13 million monthly users in 2012, with 7 million subscribers choosing to receive weekly emails.
In 2013, the group announced the launch of the Cheap Energy Club by a subsidiary of Moneysupermarket, MoneySavingExpert.com. Martin Lewis, founder of MoneySavingExpert, said in several interviews that he believes the energy market is broken. This service monitors user energy tariffs to ensure they are on the cheapest gas and electricity deal. This scheme requires the user to enter data on your current energy rate and state the amount of savings you will be willing to switch providers. The available rates are reviewed each month and you will be notified when switching will trigger your target savings.
Ads
In 2010, the ad featured comedian Omid Djalili as a "HaggleHero" character.
Then from 2011 to 2013 show ads like man surfing on the blowing crocodile, another man in the forest with a gorilla and another man going into space. In August 2013 a new ad was launched which showed a man named Bill walking around Croydon with a squad of cats while a spokesperson played by James Lance who said that Bill was so Moneysupermarket.
In January 2014, a new ad was launched featuring Snoop Dogg and her song "Who I Am (What's My Name)" feature on the ad.
In August 2014, another new advertisement was launched featuring Epic Elephunk walking around Manhattan city street while Graeme was riding Elephunk The Elephant's back, the narrator claimed that he was a Money Supermarket, and the selected soundtrack was "Word Up!" by Cameo in this ad.
In January 2015, another advertising campaign was launched featuring a man named Dave (played by Michael Van Schoik), walking down the street at L.A, wearing a shirt, suit, denim pants and high heels. He, along with two others, proudly sang the song "Do not Cha" by the Pussycat Dolls, while showing off his prominent backs to a stunned audience, including Sharon Osbourne. This was later revealed by the Advertising Standards Authority in the UK to be the most complaining about advertising in 2015 with 1,513 complaints. In their verdict, ASA found that while it may be unpleasant for some people, they do not rate the advertisement offensive and complaints not enforced.
In July 2015, another ad was launched. This shows a fat construction worker named Colin (played by Kyle McIntire). She dances, dances, performs worm dances and splits in front of co-workers and confused office staff in other buildings. The song featured in this ad is "Just a Little" by the British pop group Liberty X. At the end of the ad, he also swung the broken ball (a reference to Miley Cyrus' Wrecking Ball video).
In January 2016, another TV campaign by the Mother agency was launched by featuring a bodyguard named Gary. The song featured in the ad is "Big Bad Wolf" by Duck Sauce, American-Canadian DJ duo.
In April 2016, another ad was released. It shows the three 'epic' people who dance in the parking lot. The song featured in the ad is "Worth It" by Fifth Harmony featuring Kid Ink. This ad is showing during the first break of Britains Got Talent .
In March 2017, another advertisement featuring Skeletor Dance to the song "Time of My Life" from the movie "Dirty Dancing" and also featuring He-Man was released.
In March 2018, an ad featuring Human action danced with the song "Finally" by CeCe Peniston was released.
References
External links
- Company website
- moneysupermarket.com in Alexa
Source of the article : Wikipedia
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