My pleasure!
We invest in a range of marketing channels to drive growth in the short- and medium-term.
Some of these channels we’ve been investing in for a while, such as the free share referral program, while others are newer for us, such as partnerships and broadcast advertising.
We try to understand the impact of each channel to optimise investment between them but we also know that the best results come from investing in a mix of channels at the same time.
To illustrate the point, someone might hear a radio ad, then read about Freetrade in the press, see an ad on Instagram and, ultimately sign up through a referral from a friend. In this example, each channel has played a role in making Freetrade feel more familiar and trustworthy to someone before they eventually create their account and start investing.
I can’t share specific numbers on CAC (Customer Acquisition Cost) but can say that we’re acquiring new customers very efficiently. We expect this to continue as we increase our marketing investment by applying everything we’ve learned to date.
Re: positioning and messaging, I answered a similar question here: