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Designing Acquisition Channel

(keep in mind the stage of your company before choosing your channels for acquisition.)

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(Go and speak to different users of the product and the people in the chain: households buying the product, shopkeepers selling the product, churned users, and users using competitor's products. In the case of B2B products identify the decision makers, the influencer, the blocker, and the end-user)

Understanding your ICP

(Put down your ICP’s in a Table Format. A tabular format makes it super clear for anyone to understand who your users are and what differentiates them)

While there could be a separation based on just the tier of cities and possiby income, its important to also incude the kind of investment strategy the user follows and what stage they are in their trading journey to actually understand and narrow down on the core users of Groww

User Research Data


We have multiple users of a product and not all of them can be our ICP for whom we make our strategies, we need to prioritise. Added a column for risk as Competition for each ICP is dffierent and ability of Groww to cater to those also changes.

While looking at the table, we can see that ICP 2, 3 & 4 make the most sense.

Other points to consider:

1. Groww is the leading broker app for women, hence doubling down on it and consolidating that positions makes a lot of sense
2. Core Traders still seem apprehensive of chart data accuracies and rely on other options like Zerodha but are also the ones that fetch the most revenue
3. Lack of commodity trading is another reason why Groww isn't preferred for really serious traders
4. No API for power users/ algo traders as of now although website indicates its in the pipeline
5. While new to market millenials offer little to no value in short term, if we build the right trust, they could return very high value few years down the line

Order of Priority: ICP-2 (SIP First Professional) > ICP-4 (Women Wealth Builders) > ICP-1 (New-to-Market Millennials)

(Before you begin, you need to know what your product is, what are its features, what is the problem being solved by your product?)​

​Understanding Core Value Proposition

(Build your core value proposition by exact what your product does and what problem are you solving)

For amateur & intermediate investors who need a simple way to invest & grow their money without much hassle, Groww is a broker that offers a simple straightforward UI/UX while charging no to minimal fees for equity, mutual funds & maintenance which makes it affordable & easy to use

(Let's begin by doing a basic competitor analysis in a tabular format considering all the parameters for your product and its competitors)

Two main criteria where we want to judge the product & competitors:

Feature Richness: What all does it provide off the bat compared to it's competitors

Costing for each Service: What are the various costs associated with different kinds fo trades on the platform

Now it’s time for some math, calculate the size of your market.

TAM = Total no. of potential customers x Average Revenue Per Customer (ARPU)
SAM = TAM x Target Market Segment (percentage of the total market)
SOM = SAM x Market Penetration/Share

Trends:

• Digitization of Investing: Increasing internet penetration and smartphone adoption have led to an explosion of digital investment platforms.
• Stock Market Participation: The pandemic led to a rise in retail investor participation, especially among younger audiences.
• Robo-Advisory: AI-driven, automated investment advice is gaining traction, especially among young investors who prefer passive investing.
• Democratization of Finance: Increased focus on low-cost, commission-free platforms.

Key Growth Drivers:

• Young & Tech-Savvy Investors: Millennials and Gen Z are increasingly looking for platforms that provide simple, transparent investment options.
• Increasing Financial Literacy: Growing awareness of mutual funds, SIPs, and ETFs has led to higher participation from the middle class.
• Low-Cost Trading: The shift toward zero brokerage platforms (like Groww) has democratized investing for smaller retail investors.
• Government Support: The Indian government’s push for digital finance initiatives, such as the Jan Dhan Yojana and financial inclusion campaigns, is driving more people to online investing platforms.

Calculating TAM/SAM/SOM

**Current online userbase = ~49 million
**Current ARPU for Groww = ~Rs2400 [Revenue = 3145 Cr, Users = 13M]
**While Groww's ARPU is around 2400, Zerodha is at 10-11k, so we need to consider an industry average for TAM, which we can take around ~Rs6000
*Considering India's growing financial literacy, in 5-7 years, we can expect user base to reach around 120-150M

Content Loop

(Keep it simple and get the basics right)

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Step 1 → Nail down your content creator, content distributor and your channel of distribution
Step 2 → Decide which type of loop you want to build out.
Step 3 → Create a simple flow diagram to represent the content loop.

Groww already has a good content strategy in place with utilising youtube & finfluencers which garners quite a lot of views with some videos reaching millions

All fintech brokers including Groww have a major focus towards educating the user which serves 2 major purposes:

1. Gets in more customers, given there is still a huge market that lacks financial literacy
2. Gets more value(Paid users) out of existing customers, ex: Users who only invested in Mutual Funds(free) move on Equity Investing(Rs 20 per transaction) & F&O(chargeable)

Also, majority of the user base is active on linkedin as well as instagram, for educational purposes, linkedin would be more suitable.

Keeping these insights in mind, we want to build a content loop around Certification

"Groww Certified Investor/Trader" Program

User Flow:

Summary:

1. Content Creator: Groww Team to create certifications
2. Content Distributor: Users
3. Distribution Channel: Linkedin
4. Loop: User gets certified -> Shares Badge on Linkedin -> Drives engagement -> New users join -> New user get certified -> Restart

(Understand, where does organic intent for your product begins?)

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Step 1 → Identify complementary products used by your ICP
Step 2 → Use the selection framework and compare the potential integrations it in a tabular form.

Step 3 → Collaborate with necessary stakeholders
Step 4 → Map the customer journey
Step 3 → Design the wireframe with the new integration
Step 3 → Run pilot tests before launching
Step 3 → Measure post-integration metrics

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(For B2B companies, if referral does not make sense you'll take a crack at a partner program for your product)

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Step 1 → Flesh out the referral/partner program
Step 2 → Draw raw frames on a piece of paper to get the gist.​

(Don't spend a lot of time on design. This is for you to communicate how the referral hook will look)​

​Referral Program:

Current Referral System:

• Lack of Incentives:
  Currently, the referral program offers no rewards for either the referrer or the referred user, resulting in minimal motivation for participation from both sides.
• Poor Tracking Mechanism:
  There is no effective system in place to track the referral journey—users cannot see the progress or status of individuals they've referred, such as whether they've signed up, completed KYC, or made their first transaction.

Referral 2.0:

Rewards System:

• For every referral ₹100 each gets credited into the referrer's & referred's Groww Balance, it is done once the referred person signs up and makes his first successful transaction on Groww
• First Milestone: 3 Referrals: Extra ₹100 credited to referrer's Groww Balance
• Second Milestone: 5 Referrals: Extra ₹200 credited to referrer's Groww Balance
• Third Milestone: 10 Referrals: Extra ₹500 credited to referrer's Groww Balance
• Fourth Milestone: 25 Referrals: Extra ₹2500 credited to referrer's Groww Balance
• Fifth Milestone: 50 Referrals: Get a Bose Quietcomfort Headphones (MRP ₹24000~)
• Bonus at clusters (3, 5, 10, 25) to motivate "referral chains".
• Different badges for different levels, which unlocks social brag value.
• 5th Milestone kept deliberately high priced item to promote an aspirational achievement, to motivate folks to keep referring although unlikely goal

Tabular Summary:

Why this works: Combines short-term achievable gains (3–10 referrals) with a long-term aspirational goal that fuels ongoing motivation and viral potential.

** [OPTIONAL] Referral Leaderboard:

1. For power users, we can add a rolling leaderboard or limited-time contests (monthly/quarterly) with additional top-referrer rewards.
2. We can do a test run to understand what is the best strategy for us.

Customer Touchpoints:

Brag-Worthy Elements:

• Easy to use User Interface
• Free Account Creation & ZERO Account Maintenance
• Great learning content including the newly added Groww Certified Trader Program

Platform Currency:

While we can give direct money credited to the account, in order to ensure we increase the engagement and reliance on the platform, we'll stick to on platform credit system

• Groww Balance:
• • This is money help in the groww portal that can be used to purchase stocks or do F&O
  • Can also help with mutual fund traders to draw out more value from them i.e. it can help increase the AOV for the existing customer as well

Who to Ask for Referral:

There could be multiple instances where user experiences happy moment/"Aha Moment" & we are able to validate

Referral Sharing & Communication:

1. Communication Channel: Whatsapp
2. New Referral Message

• This message helps to outline the USPs & core value prop of Groww clearly which is essentially the fact that the Account Creation does not cost anything, and unlike other competitors it also does not charge any Annual Maintenance Charges & the fact that the UI/UX is simple and easy to understand even for beginners

Referral Tracking System:

Here are some of the key features of our referral tracking system:

• Groww Balance Summary: Shows how much you've earned
• Progress Bar: Clear milestone view (e.g., “5/10 referrals” with reward preview)
• Friend Status Tracking: Each row shows a user and current funnel stage
• • No Action: Clicked but did nothing
  • Signed Up: Account created, no KYC
  • KYC Done: Ready to invest
  • Invested: Qualified for reward
• Color Indicators:
• • 🟢 = Reward Earned
  • 🟡 = In Progress
  • 🔴 = No Progress

Landing Page for Non Users: