A-B testing - varying the referral text

Ideas 💡
1

Hi. Feeling threatened by Revolut all of a sudden I went to refer on my various social media apps this morning. I didn’t press “post” as I didn’t feel the text summed up all the positives I feel about the product. Current text as follow: “You should sign up to Freetrade! It’s an app for investing in the stock market with no fees. Plus, when you sign up, we both get a free mystery share!”.

Could Freetrade test some different copy here with different groups of customers. Some forms of words would be stronger than other.

And yes, I know I could change the words myself but just thinking about how we scale fast and figured that the crowd would be a lot smarter than me.

I’d want to see in the text my money was safe and that the product is exciting . Just think it needs workshopped.

Thanks for listening.

2

Perhaps a cheeky water bottle as a prize for whoever nails it?

3

Nice idea.
I’ve found it hard to refer friends that don’t have the same passion for saving or for most people who just look at it like going to the casino. Our problem is ads like etoro’s which whilst looking good to us the majority of people will see something fairly dodgy, they’ve definitely got the right approach with people taking a bite out of your food to represent a cut, but it might only resonate with those already investing which Is a tiny proportion of my age group in particular (18-24)
How does everyone clearly get across what investing is?
Has anyone successfully referred people in my age group? How?
Back to the point
 i think it’s good, but a lot of people will just look at it as another classic referral message. That being said it’s the best I could come up with as well.

4

How about, “doing to investing what Monzo are doing to banking - innovative, transparent, fair and safe. Freetrade allows you to dip your toe in investing with as little as £1 and invest in US and U.K. stocks with no fees.”

“Invest in the brands you love with no commission. Freetrade can point you towards ethical stocks and funds to start your investment journey.”

“You have time on your side. Your future self will thank you. Freetrade allows you to invest with no commission and keeps your money safe.”

I’ve not had coffee yet but there might be something in one of these.

2 Likes
5

I don’t think it’s the best image comparing to another company, it can be a useful analogy for consumers but shouldn’t be the company line (imo). Freetrade’s vision is strong enough in its own right

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6

Only problem is when they ask can I invest in this and you inevitably say no :sweat_smile::sob:
:crossed_fingers: investment platform is soon or “not far off”

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7

In all my referrals so far, I’ve used my own message.

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8

Love these
Strong contenders

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9

Love that you suggested this!

At any given time, there are A/B tests running on the website as well as in the app. On the website, one specific title change reached 95% probability to beat the baseline in about two days, so the power of good copy is obvious (although we test more than the copy of course).

For the Free Share feature, we’ve been focused on getting it out of the gate in the correct way, and you’ll see reveals rolling out over the next few days. :tickets: We will absolutely test the copy, so suggestions are very welcome! :+1:

5 Likes
10

This is part of the cultural consensus about investing, but we are seeing progress since we’ve started rolling out Freetrade back in October. One movement we see is some of our community moving from being purely consumers to investors, buying shares of companies whose products they use.

https://twitter.com/DunguBook/status/1129318287509270528

https://twitter.com/liukib/status/1139238172683112448

Leading this shift will require more from us than good copy, but that’s part of it, so suggest away! :pray:

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11

I was finding it hard to think of anyone else who would be interested enough to open a Freetrade account that I could send a referral link to, and then yesterday my friend sent me a ‘if you sign up to monzo we both get 5 pounds’ request


My response was well ‘if you sign up to Freetrade we both get a free share worth up to £200.00’ ha. ‘I’ll sign up to yours if you’ll sign up to mine.’

Now I have a Monzo account and she has paid money into her Freetrade account and we both have a free share each and 5 pounds each from Monzo.

Could be something in partnering up with another startup business? Not totally sure how it could work though.

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12

That ÂŁ200.00 in the invite text is what will draw in more customers

13

Yep. Her initial response was the standard ‘i don’t really understand investing etc
’ but when I gave her some background information about Freetrade and hearing about what a “free share up to the value of £200’” means she was very keen.

I think once freetrade alpha is launched with the option to have some tutorials and abit of guidance on the world of investing it will be easier to get new users on board.

At the moment I mainly say search for Freetrade on YouTube and hope they quickly find infant investors videos! :slight_smile:

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14

Safe is the wrong word with investments, people would take that as no risk

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