Once testing is completed it might be worth offering an incentive, £5? to users that refer new users that deposit a minimum amount, £ 1,000? This would be similar to Amex card users that get friends and family to sign up for a Amex card e.g. 4,000 avios for a BA card
I’ve been having a great time with the app. So much that ive lost count of how many people i’ve talked too about Freetrade
However, i feel your customer aquisition may work better if Freetrade created some sort of referral program (like Monzo’s) . It might be a costly feature, but it would really help me in convincing my network to join the movement and leave their traditional and costly Investment accounts
Think £1000 is too pricey when part of freetrade’s mission is to make investing more accessible
I like the idea of copying robinhood’s free stock,
Something physical is a better incentive in my opinion
I always feel referral incentives can have the wrong effect, often its just key users that have a platform to share/abuse - just look at the Tesla Roadster 2 fiasco. I’d rather see Freetrade invest in other advertising or look at reducing their fees even more - being the best and cheapest in the market would be a great way to grow!