The psychological power of the referral priority program enticed people’s desire to move up (and thereby share) has no inherent limit - they would continue to share until they run out of friends to send the link to. The more people you referred to join the waiting list, the faster you’d move up and the sooner you’d get access to the app.
But if you invite a friend to join the waitlist behind you, you will move up in line a few spots. It worked like this: you joined Robinhood’s waitlist you start off at the end of the line. Robinhood is a mobile app known for free mobile stock trading and reached 1 million active users in a year - and today Robinhood is adding about 140,000 new users every month.Įven before their launch, Robinhood started this smart referral priority program. Robinhood: clever referral program built a +1 million waiting list. The first article in this series is about two of the most successful FinTech startups Robinhood and Mint and how they used pre-launch marketing to grow their potential client base, way before they launched their services.
I will be publishing weekly articles with successful marketing strategy case studies: from content marketing to growth hacks, and clever ways to build a community using social media. This is the start of a series of articles about different marketing strategies used by neobanks and FinTech startups.
