Give $2-4 of free stock at signup; let users earn up to $75 more

Jae Hwang… So we start with urgency, explain the app with a lot of animations and colors so they don't lose focus, and end give them trust by showing them trusted customer reviews. Um And this usually retained us pretty well in terms of downloads to actually signing up. So that's our revised onboarding. And how we convert from onboarding by adding those information to actually getting them sign up to subscription is by showing this kind of uh CTA. So it's

Jae Hwangpretty simple, right? Like I think a lot of folks who join our app understands that there's gamification and learning components, but they also know that there's a free stock. Uh And that's kind of a bait for users where if you sign up, you'll get a free stock instead of a free cash. And I think given that it's an investing app, instead of giving them free cash on their account, giving them stock actually helped us a lot to give them a long-term growth mindset. So this is uh At this point, we've used the same

Jae Hwanglike a subscription uh funnel for about two to three quarters now, which worked pretty well for us. We're changing around the numbers of dollars a little bit by I think $40 to $75 and $60, and changing around to see if that would impact our uh subscription uh which and it didn't as much. But right now it's at the highest of $75 and we're testing this out for this quarter and next quarter.

JosephThat's really interesting. So you're actually like giving users $75 just to just like sign up?

Jae HwangUp to. So there's uh, you know, if you read, there's a small disclaimer that's "up to" means that, you know, um when you sign up, you get roughly anywhere between like $2 to $4 free stocks and then you can play games and do all the learnings and earn in-game currency which you can buy loot box with those, which will unlock a fraction of stocks. So technically you can earn up to $75, but then it's not an immediate $75 in the beginning.

JosephRight, right. Where the basic principle is like you're giving people incentives. It's almost like the like the gamification starts on day one. You're giving people rewards for doing the things that will help them like save and invest money over time. And you're just kind of front-loading that and saying, "Hey, look, this is like the opportunity that you can make." I bet when you reach out to creators, it's almost the same thing. It's like, …