![]() ![]() Cryptocurrency revenue saw the most drastic increase when comparing the years, with $233 million in the Q2 of 2021 compared to just $5 million during the same period of 2020.In comparison to Q2 2020, transaction-based revenue more than doubled in Q2 2021, reaching levels of $451 million.Net revenue more than doubled from the Q2 of 2020 to 2021, with $244 million for the quarter versus $565 million in the same period of the following year.In 2020, Robinhood revenue more than tripled to reach $959 million.2019 was the first year to record all sources of revenue, and the total for the year was $278 million.Revenue for order flow payments increased from $2.9 million in 2015 to $69 million in 2018, showing tremendous growth.These include rebates from trading venues, sales of Robinhood Gold software, interest on stock loans, income from uninvested cash, and income from cash management systems. There are a variety of different ways that the service generates revenue without charging commissions on trade. They also spent a lot of time working on distributing that content both through social media (Reddit, personal finance forums) and through SEO and it drove up about 20% of Mint’s overall traffic.Robinhood generated $959 million of revenue in 2020. Mint’s ingenious use of SEO based on various keywords like “budgeting,” “spending plan,” “financial management,” “save for college,” “how do credit cards work” pulled a high volume of traffic to their site.Īnd the content on MintLife also included highly shareable features like “Trainwreck Tuesday,” a series of posts that highlighted personal finance disasters combined with in-depth interviews about personal finance habits with people such as Shelley Elmblad of About Financial Software, a financial expert. Mint created a team called “content network” at the time of the pre-launch. They’d write blog posts, do interviews with personal finance experts, design infographics, and create types of content they thought would be successful with their target audience, which consisted of young professionals looking to manage their finances better. Mint is one of the few FinTech companies that focuses almost solely on content marketing - and it really did pay off.Īccording to Mint founder Aaron Patzer, the marketing plan was “Whatever we can do, basically, for cheap or for free.” (see video from 3.31 below:)īy creating lots of content around its mission to help people get their finances in order, Mint built one of the top personal finance blogs called MintLife before it ever launched its product. This is a prime example of the power of “word-of-mouth” marketing! : used blog posts to get 20,000 customers in the pre-launch. But those who did get the highest-value stocks, and shared, confirmed the potential of the program, drove existent users to keep on referring. Many users got stocks from well-established companies, but ones less valuable than, say, Apple. And you'd always win because you’re getting something valuable.Īnd the referral program carried on after the launch - this time the incentives were small amounts of stocks.įorums like Reddit became a hot spot for people sharing thoughts on the stocks they received from Robinhood as incentives. It also had a gamification style: the program was like pulling a slot machine lever, but for free - the only “cost” is the referral. 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.
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