The guys at BookU had an idea in mind they, wanted to disrupt the current way students were buying their textbooks. We took that idea and helped them come up with an innovative way to not only allow students to buy but also rent and sell their textbooks.
We came to the conclusion that for students to trust this new market their fellow classmates had to validate the product.
No other app was doing the same thing at the time, so in order to be successful we needed their target audience to believe in this new market. We came to the conclusion that for students to trust this new market their fellow classmates had to validate the product. So we came up with a Brand Ambassador program and a referral system.
The Brand Ambassador program gave students a chance to become a representative of the product, advertising BookU to other students and friends. In return they received special coupons to use within the app and actual cash prizes depending on how many students they recruit.
The referral system was also very beneficial in scaling the app. It consisted of referring a friend to join the app, using a referral code. Now every time that same friend either rents or buys a book, the referrer receives a coupon giving them a discount on their next purchase. This retention strategy really works well because it incentivizes both users to engage with the app.