OUGD503 - Responsive [SB1] - Competitor Research

I decided to look at Landbay's main competitors listed in the brief to have a look at what their competition succeeds at and what improvements I could make to their current brand strategies.

Zopa

Zopa was the first peer-to-peer lending agency in the UK. This probably has helped it establish its' experienced lending scheme, protected by a fund and repayment scheme in the case of borrowers not repaying on time. The amount of time it has been established means it has gained a loyal following and will be difficult to sway to Landbay. For this reason it would probably be the best decision to specifically target newcomers to peer-to-peer lending.

After researching Zopa I came across a page on MoneySupermarket that specifically compared the different peer-to-peer lending companies and their pros and cons. I thought this would be useful to see the common pitfalls of these companies and how to create a branding strategy that fixes these issues.

Landbay are currently ranked second on the list of peer to peer lending services. They currently have the best policies between all of the companies and I believe this will help university leavers become Landbay customers.