Xoom continues to grow marketshare in the Mexican market
Xoom.com is the leading online money transfer company which, in just a few years, changed the way consumers send money to family and friends by offering low-cost, fast, safe and convenient money transfer services to 42 countries. Xoom.com allows its customers to send remittances directly to bank accounts or have the cash available for pick-up at the most popular financial institutions in the serviced countries. While the overall money transfer industry is experiencing a slowdown as a result of the current economic climate, Xoom.com continues to grow its services to Latin America, especially in Mexico, Colombia and Brazil. In May 2010, Xoom.com again tapped Mosaico to launch a partnership with Banamex, one of Mexico’s largest banks and a Citibank subsidiary.
Mosaico knew that announcing Xoom.com’s partnership with Banamex would provide an opportunity to leverage the Bananmex brand equity to the target consumer, especially given the challenges reaching the already crowded Mexican consumer remittance market. Mosaico counseled the company to include newsworthy growth statistics in its press materials while Mosaico focused on promoting the many benefits Xoom.com offers consumers, including its low money transfer fees, convenience, privacy and safety for online transactions of this type.
Mosaico prioritized top tier media in Mexico and Latin America and was able to generate more than 25 million impressions. Mosaico secured an interview for Xoom.com’s vice-president of new business development on CNN En Español’s En Efectivo, one of the most prestigious financial shows on Spanish-language television, broadcast throughout the U.S. and Latin America. Mosaico was also able to secure another high-profile interview with a Xoom.com spokesperson on CNN en Español Radio; the interview was broadcast to more than one million listeners in the U.S. and Latin America. Additionally, Mosaico also secured front page coverage on Univision.com, the highest trafficked Spanish language website with more than two million monthly impressions.
The campaign helped increase Xoom’s profile among consumers, and, later that year, a reputable independent high profile NGO recognized the company for having the best customer service rating based on consumer feedback.