Alice Blue has witnessed an increase in revenues and new customers with the gaining popularity of its referral program. Launched initially on 1st July 2021, the referral program has gained ground and has had significant traction in new customer additions. This has also directly contributed to additional revenue generation from new investors.
Mr. Sidhavelayutham, CEO, of Alice Blue said, “The referral program has been a successful initiative in new customer initiatives. With the target to acquire 2L customers by the end of 2022, we have renewed our focus on value addition to traders and investors. We ensure ongoing technological upgrades for trading tools to reduce downtime and service glitches and also by offering a variety of access tools and strategies & learning courses.”
Significantly, even during volatility in the markets Alice Blue has witnessed a growing customer addition indicating a high positivity in Investments and trading as a whole. With the growth of economic activity investors have seen a rise in their earnings & investments prompting them to refer their family and friends to invest as well.
Alice Blue gives ₹500 on every referral a customer provides. Additionally, the customer gets 10% of the brokerage of their friend pays for life, and they receive 10% cashback on brokerage for 30 days as well. Additionally, the company offered a premium course on options trading worth ₹1500 for free for both new and existing clients as a referral bonus.
Mr. Sidhavelayutham, further said, “The current period is highly crucial in terms of investment, as the market’s decline is creating possibilities to invest in particular areas at significantly reduced prices.”