• by Larissa Faw , September 13, 2016

Peer-to-peer payment service Venmo intends to raise awareness with its first national ad campaign. Ad agency Preacher was responsible for the creative, while Noble People handled all media strategy, buying, planning and activation. 

This effort represents a new marketing direction for the PayPal-owned platform which has primarily relied on word-of-mouth since it was launched in 2009.

"The growth of Venmo has been very much a personal and social activity," says Kasia Leyden, director of marketing, Venmo. "Venmo has become ubiquitous primarily through word-of-mouth marketing. In a recent survey we conducted, three fourths of users said that someone from their inner circle, like a friend or family member, referred them to Venmo. We very much want to support those people by giving Venmo a louder voice and in the process, providing content for our users to help them recruit more people to Venmo.”

The "Pony Up" creative uses humor to reach Millennials. The 60-second Rally Cry spot shows friends arguing over splitting a bill after happy hour and one suggests 'ponying up' with Venmo. Then, the ad cuts to actual ponies to depict different scenarios where people would be splitting the bill, before the actors go on to settle between them. 

Per the younger audience target, ads will run across networks including MTV and Comedy Central as well as online properties such as The Onion, Hulu, and YouTube. A "Pony Up" filter will be available on Snapchat on Sept. 19.

Venmo will also concentrate on specific cities, Austin, Chicago, Portland, and Nashville with branded pizza boxes, coasters, Venmo tattoos, pony-themed pedi cabs and out-of-home advertisements. 

Venmo continues its rapid growth, says PayPal. In Q2 2016, Venmo processed some $4 billion in P2P payments, an increase of 141% year over year.