Generating 451K Web Visits From Referral Incentives Over Two Years

Partnerships & Referrals
YouTube
February 22, 2022
Financial Services

Key Takeaways

Wealthsimple has generated 451K web visits from referral links in the past two years. Here’s how:

Offering existing users with the following three referral incentives: 

  • Wealthsimple Trade: “Refer a Friend, Get $5” (Nov. ‘19), “Share Wealthsimple Trade and Get $10” (Jun. ‘20), “Invite Friends to Get a Free Stock” (Jun. ‘21). 
  • Wealthsimple Cash: “Give $25/Get $25”, "Give $5/Get $5" and "Give $10/Get $10" (Run simultaneous since Mar. ‘21). 
  • Wealthsimple Tax: “Refer a friend and you’ll both get $10 when they file their taxes.” (Jan. ‘22) and “Refer a friend to double your refund” (Mar. ‘21). 

Social accounted for one third of all the desktop referral link traffic.

  • Wealthsimple’s referral links were featured on +1.1K YouTube videos from +78 creators, the est. spend of these partnerships were  ~$97K - $873K.
  • The top messaging on YouTube videos with Wealthsimple referral links was “Sign up for Wealthsimple trade and we’ll both get $10 to trade”
  • Sara Finance, GwenGwiz ASMR, Coltyy and GENTLEMEN 1ST Fr. had the top viewed videos, averaging 403K views at an estimated CPM of $2.53. 

Wealthsimple launched a referral program for Wealthsimple Trade to drive account signups in November 2019.

1. “Refer a Friend, Get $5” November 2019

2. “Share Wealthsimple Trade and Get $10” June 2020

In June 2021 Wealthsimple updated the referral program to entail: one free stock for the referrer user, and two free stocks for the new user*.

*Click here for more promotion details.

The referral Wealthsimple Trade referral links drive an average of 2.9K monthly web visits. The stock rewards incentive has out performed the two previous cash incentives (with the exception of the GameStop phenomenon* in Jan.- Feb. ‘21).

*GameStop Phenomenon

From September 14 to October 12 2021, Wealthsimple offered “Triple Referral Stock Rewards” which resulted in a +50% MoM increase in referral link web visitors. 

Click to View 

In March 2021, Wealthsimple announced the launch of new Wealthsimple Cash app which allows users to transfer money instantly similar to CashApp or Venmo. To drive sign ups, Wealthsimple ran various referral incentives such as “Give $25/Get $25”, "Give $5/Get $5" and "Give $10/Get $10". 

*Click here for promotion details 

From March 2020 to December 2021, the referral Wealthsimple Cash referral links have driven an average of 10.1K monthly web visits, peaking in July 2021.

Additionally, Wealthsimple ran the following referral promotions for their tax services:

1.. “Refer a friend and you’ll both get $10 when they file their taxes.” January 2022

2. “Refer a friend to double your refund” March 2021

*Click here for more promotion details. Wealthsimple Tax referral traffic is currently not available. 

Next to direct, social is the strongest driver of referral link traffic, accounting for one third of all desktop referral traffic from January 2021 to January 2022.

*Desktop data only, mobile traffic currently unavailable. Referral traffic for Wealthsimple cash and Wealthsimple Trade. Wealthsimple Tax referral traffic is currently not available. 

Wealthsimple’s referral links were featured on +1.1K YouTube videos from +78 creators over Jan. '21 - Jan. '22. The estimated spend* of these partnerships were  ~$97K - $873K.

*Estimated budget spent on partnerships with YouTube creators over the analyzed period based on HypeAuditor’s model based on market values of influencer’s average video views, audience location, audience attitude, virality, and popularity on other social network. 

Top YouTube creators who mentioned Wealthsimple from Jan. 2021 to Jan. 2022:

*Blue $ is the estimated budget spent on a partnership with this YouTube creator over analyzed period (01/21-01/22) based on HypeAuditor’s estimating model.

From Jan. ‘21 to Jan. ‘22, the top messaging on the YouTube videos with Wealthsimple referral links was “Sign up for Wealthsimple trade and we’ll both get $10 to trade” which was used 243 times.  Sara Finance, GwenGwiz ASMR, Coltyy and GENTLEMEN 1ST Fr. had the top viewed videos that mentioned Wealthsimple.

Sara Finance, Coltyy, GwenGwiz ASMR, GENTLEMEN 1ST Fr

*Estimated CPM based on HypeAuditor’s model using on market values of influencer’s average video views, audience location, audience attitude, virality, and popularity on other social network.

Added by: 

Recent Case Studies

Scroll horizontally to view more case studies →