In a startup, people wear multiple hats in attempts of making a dent in the universe. Tactics and creativity need to work at best since resources are usually limited. Every single resource has to be fully maximized in order to achieve the best results.
At Denarii Cash, we challenged ourselves to acquire customers at the lowest possible cost and two of the things that have worked for us are Referral and Games. Our Digital Marketing Manager Ingrid Sandra Papa discussed in details on how we acquired users and how we educated them about the Denarii Cash app until they become confident.
When asked about the acquisition strategy, Ingrid said,
“It’s just a way of giving back to the customers. We want every sender of Denarii Cash to be a receiver. Most of the expats here are working to provide for their family so why not give something to them?” She further elaborated by saying, “We introduced games where users can get rewards when they play the games.”
According to Ingrid, they have seen a 500% growth in referrals by introducing games in the app.Jay Tolentino asked Ingrid about the cost of referrals. In response to that, she said, “In digital marketing when you do the paid efforts, the cost to get installs is more than a dollar. But when you try to cultivate current customers that you have, the cost can be lessened by 50 to 75 percent per install. With Denarii Cash referral program, we were able to achieve that.“
Watch the full interview of Ingrid Sandra Papa with Jay Tolentino here:Let us know in comments if you have tried any of the ways to acquire customers without a marketing budget. We would love to know about your experience with that?
Let us know in comments if you have tried any of the ways to acquire customers without a marketing budget. We would love to know about your experience with that?