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About Vance

Vance is a Neo global bank for NRIs that helps them to send money to India easy at Google exchange rates, investment in Indian Mutual Funds, open NRE/NRO accounts, and diversify with FDs in multiple currencies.

This app is currently live and available for NRIs in the UK 🇬🇧 and UAE 🇦🇪.

💫 Few things to know

What is a referral program?

A referral program is a marketing strategy where existing customers are incentivized to refer new users to a product or service, driving user acquisition and growth.. This simple task boosts user acquisition, conversion rates.

Eg. Users receive incentives like credits (Airbnb), premium accounts (Evernote, Trello), or increased storage (Dropbox) for inviting friends.

🫴🏼 Why do we need to improve the Referral system?

Vance is having a referrals’ low rate that is below their target. Especially the number of times a user interacts with the referral program.

The goal is to find out why their users are not using the referral program and figure out how to get people to interact and complete the referral journey more.

🔍 Figuring out the Problem

I did some research to know –

1. How do referral programs typically work within mobile apps, and what are the key factors that influence their effectiveness?
2. What design principles and best practices should be considered when implementing a referral program for a mobile app?
3. How do successful mobile apps structure and optimize their referral programs to drive user acquisition and retention?

My findings