Amid the COVID-19 outbreak everyone is trying to find alternatives to their old ways of doing things. Startups and their customers are no exception. Startups need to pay attention to their customers’ conversations on social media and gain insights about their new pain points. In our new series we share what our startup teams say about how to address these issues to stay relevant.
Our example: BrokerChooser
Profile: BrokerChooser, a digital broker comparison service makes brokers easily comparable globally using an integrated methodology and matching system.
BrokerChooser built its significant daily page visitor aquisition and conversion strategy by very closely monitoring its market and customers, and developed a quick adaptation ability. Their monthly page visits went from a few visits per month 2 years ago, to the current 100K.
What happened on the market: BrokerChooser was very quick to identify and react to a market momentum during the last couple of weeks. On 2 March 2020 Robinhood, the free trading app used by 10 million people worldwide crashed. They fixed the bug quickly, however, many users suffered substantial financial damage amid the market turbulence the coronavirus caused and many were trying to get rid of their shares as quickly as possible.
The BrokerChooser solution: BrokerChooser produced a new content on its webpage called „Robinhood Alternatives” which became suddenly very relevant for those who lost trust in Robinhood and were quickly looking for alternatives. Prior to March this year, only 10 % of BrokerChooser’s website traffic originated from the US and this number grew to 20 % in the course of a couple of weeks. This opens up a new dimension of US market opportunities for BrokerChooser.