Site upgrade!
More good stuff is on it’s way right now as we upgrade the site.
For lenders - you can look forward to being able to lend the money in your holding account, even if it’s less than £500, by adding it to your most recent offer - this means that you can start earning a higher return on it by lending it to borrowers without having to wait for more repayments to come back in.
This is a start - over the coming weeks we’re going to be adding the ability to lend less than £500 from the very first time you join Zopa, and also to automatically relend the repayments you receive from borrowers - 2 much requested features.
Also released today is an improved member get member scheme - now it’s behind the sign in security, so we can pre-populate the email we send out to your friends and help you to spread the word about Zopa. This fits in really well with my previous post on ‘flipping the funnel’ - now go and use it! (And get paid for the privilege)
Ross Parker
Posted on February 16th, 2006 at 10:23 am
Great! When I first loaned money on Zopa, I resolved not to loan any more. It was nothing about the quality of the service; rather it was that, at the beginning, it was too hard to do anything with your money. Holding account cash was dead, making to interest, and you couldn’t lend it out until you had another £500. My wishlist was thus:
1) The ability to lend smaller amounts
2) Interest on holding accounts
3) The ability to automatically relend repayments, on specified terms
You’ve addressed the first two of these concerns. As such, I’m going to add another couple of thousand to the market. Well done, Zopa, for listening to customers and continually improving.
As an aside, my personal business philosophy is couched not in funnel-flipping management speak but (obscurely) in the language of international socialism: ‘constant revolution’. My business interests are typified by continual examination, assessment and improvement. It’s good to see that you guys do the same.
As for getting you to the top of the del.icio.us tree - I’ll tag Zopa with pleasure. Remember also that there are other ways of flipping that funnel: I think your reforms warrant a blog post too.