Same here. And just found out that one of my referred people opened his account with £1k, so a new happy Freetrade customer!
Thatās a really good point and probably why Iām not a designer
How about an emoji? I gave you the referral and that other person got the
referral.
I wonder what the mystery shares will be?!
Will the investor who sent the link get a good share or will the new person get a amazing one to keep them? Or will we all get a £3 share!!! Is it random or is it already decided! Oewwwwwww!
We find out soon
From whatās been shared itās random, but weighted so there is a lower chance of getting the highest valued stock. We donāt know what the weighting is right now.
Itās plausible that only a few people will ever get the highest valued stock to make it viable. Hopefully the people that get the highest valued stock will share as itāll be good promotion for the scheme, since there is nothing stopping you being lucky.
We are looking to improve both of these issues. Your feedback is very helpful, thank you!
I agree. The current referral scheme seems to be working well and does prevent spamming codes. Each of my three referrals have all been done with me on their shoulder and have required me to answer a number of questions re the app and investing in general.
Donāt get me wrong, I am sure some people will just cash out ā¦but this scheme will definitely gain traction with potential customers and ultimately convert the non investing rabble!
The banner displayed on the Portfolio screen that says āYouāve earned your free shareā is really wonderful!
@jani could you please share how this was implemented technically? Are you using a third-party tool or is this sent directly from your BE?
Iām looking into ways to build this for the product Iām working on.
Cheers
Iāve found this disconnect really interesting. For me at least this kind of link Iām happy to post on social media so that friends see it and can use if they want, but unhappy to send to friends directly in private messages (feels too spammy).
I had a conversation with a personal friend this weekend in fact about freetrade and recommended the app, but to me it would feel really weird to then slide in to mentioning a referral link, it could leave both of us wondering if I had an ulterior motive for bringing it up and wasnāt entirely genuine.
Itās also more awkward to manage multiple links as others have pointed out. Iād prefer just a cap on users referred or perhaps switch to low value shares only if a user overshares rather than manually managing different links and having to worry about whether it is used or not. What happens currently if a user signs up with an already used link? It would be strange given the wording on the referral page if they get nothing.
It is great to see this scheme happening though, and Iām sure youāll end up with something everyone is happy with in the end - I love that it shows people how easy it is to own shares and use freetrade, rather than just giving away money.
@Viktor letās smash out the next lot of links!
Very interesting. To me, itās the opposite. Sharing the link widely feels spammy, while having a private conversation, and then changing the inherent inaction (āIāll get to it when I get to itā) with this incentive makes sense to me.
Some friends even ask for referral links when I talk about products and they have time to check them out. Probably in 2015, I was talking to a German friend about a well-known FX-focused fintech app , and she asked for my referral link to sign up.
Any idea when this feature might be coming to everyone?
Itās for crowdfunding investors only while we are fully testing it out. We didnāt set a timeline for rolling out yet, as we want to see how it works and optimise it first.
The copy I see is in the app which is:
Get one free share
Invite a friend to both get one free share! One time use so pick your friend well.
I get that this is a friendly way of describing it, but itās not all that explicit as you may think it is. If thereās potential for it to be misused then that needs to be called out as a warning such as on the following screen where you are given the button to send the invite.
It doesnāt state that the link cannot handle multiple people clicking it (āone time useā is ambiguous, it could mean only one person can sign up with the link - which is not the case, as appears my issue), and only completing the process with the user that met all the requirements of the referral. That is what I would assume it should be able to handle. And if not, then being pretty loud about how it works and why it works that way in the referral process in the app would be useful.
I wouldnāt consider myself the average Joe (despite my name) with these kinds of things, I work with referral code issues in my own work every day.
Again, I realise and can appreciate it is beta. But these are specifics that affect the use of it considerably and it just ends up in frustration for me the user, and more people like me getting frustrated because it wasnāt a smooth process.
The help I was given in-app chat was I believe perhaps my referral was reset. But I missed out on potentially two previous signups due to the way it worked and I donāt feel it was communicated all that well. And they couldnāt be reconnected to be resolved. I just lost those opportunities.
Other than this niggle, I love Freetrade and hope bright things for the future! And thatās why I did decide to invest in you guys
I read āone time useā to be as it says - to be used by one person just once.
Iām not surprised that it doesnāt handle multiple people clicking on it as itās not meant to be used that way.
Had the blurb said āshare with your friendsā (plural), then I would be disapointed if only one of them was able to get the friee share.
I think it would be relatively straightforward to tell the user if a link has already been used when they click on it though. These things are first impressions. If itās awkward or doesnāt work as expected it may put a user off. on the other hand if itās really easy and everything is self explanatory the user is more likely to carry on using the app
People are going to stick these things on twitter or facebook or wherever. It needs to handle it gracefully if loads of people click the same link - and preferably you want most of those people to sign up so it might actually be better if the links were multi use
Are we going to get any new link before the testing phase is done?
I know you just sent one this week, but many of us have already used itā¦
Would appreciate another link also!
āOne time useā can mean itās used the once, it then expires. Then anyone else on the link would be told it has expired.
It may be intended to be used by one person, as we now understand, but it really isnāt that explicit that this is the case. As well that the referral system wonāt know how to handle more complex situations like multiple people clicking the same link and partial signups mixed with full signups from the same link as was my case.
Itās beta, I get it. Iām just making it clear how their referral system could have handled it. So they can improve it for the future.
Freetrade got in touch with me and offered a solution to rectify this issue. So thanks to them for doing that - I just wish it could have been handled like that initially. But very much appreciate it being sorted for me now.
Someone signed up with my link but didnāt top up
Kind of wishing I didnāt put my link on Reddit nowā¦
Would be great to have another referral to get through the weekend.