Robinhood’s Secret Story: How to Attract, Retain Millennial Clients

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Fri, 09/21/2018 - 16:45
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Yuri Molchan
Robinhood attracts millennials with a special design technology
Robinhood’s Secret Story: How to Attract, Retain Millennial Clients
Cover image via U.Today

On Thursday, Robinhood, a platform focused on young investors, posted a tweet on how they manage to attract millennials to their user-base. They state that it is mainly about their app design.

A great designer is a god

On their official page on Twitter, the Robinhood team shared that their design expert prefers a simple color scheme, simultaneously taking away the information which is unnecessary. It helps users clearly understand what is happening on the interface of the app.

According to the chief designer of Robinhood, Alex Bond, reckons that Sartorial design is best for this purpose and it is the key factor to outline a certain class of the society and prompt them how to act. Besides, she believes that design is such a powerful thing that it tells a person what product he or she should go for. Bond thinks that the current era seems to continue the trend.

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The secret of designing a trading account

The lead designer of Robinhood reckons that a design, if made well and professionally, can deliver a user of a financial brokerage account all the details and aspects of utility better than writing. Bond is definite that the design of a webpage can either encourage a person to trade or turn them from it completely.

A few users responded in the comments that they have brought almost a dozen friends to the Robinhood app and that they all set up accounts with deposits of $2,000.

Robinhood gets controversial

Even though the app has been on the news a lot recently, even though it has been promoted in a very positive manner, one thing has made them look pretty controversial and dented their reputation seriously.

It has been alleged that the trading app has been selling customer data to high-frequency trading companies for the sake of high profits. The fact went public when Robinhood reported its revenue for Q2 to the SEC to comply with their Rule 606.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.