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by a-posteriori
1925 days ago
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I think this makes tons of sense when you look at Cash App's distribution strategy. They have heavily focused on targeting the rap and music communities through influencer marketing. > Square has run similar campaigns [referencing a seperate Burger King campaign] with rappers like Travis Scott and Lil B and other influencers, triggering a network effect for the Cash App. With 120,000 replies, Travis Scott’s tweet gained more momentum than Burger King’s. If only 129 of the 120,000 who commented on his tweet were new to Cash App, then Square’s cost of customer acquisition would have been less than the $925 per user that banks pay on average, according to our research, and 6,000 comments, only 5% of the total, would have dropped it to $20. Moreover, as the converted users appear to spread the word on social media, the Cash App can acquire additional users from just one. https://fintechradar.substack.com/p/breakdown-2-a-deep-dive-... |
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