How Fynd Increased Their App Downloads in a Single Month
Fynd, an online fashion discovery and eCommerce store, had already built a great user experience and gained almost 100k app downloads in a short time period and they decided to leverage their existing user base to bring them the next 100k users. Coupled with lucrative brand sales on its platform, Fynd introduced a refer and earn scheme for its app users. For every new referral, the referring and referred user would get INR 200 cashback that they could use on the platform for future purchases. The results of this well-crafted referral program were extremely rewarding.
Within a period of 30 days, Fynd organically acquired the next 900k app users and brought their cost of acquiring (CAC) down tremendously. To add to that, the percentage of users who were acquired via the referral program and completed a purchase, was 2x that of users acquired via inorganic/paid channels. Because of this, the cost per user, one of the most important metrics for eCommerce companies, was significantly reduced.