Robinhood

Robinhood Case Study

78,000

New Accounts

$85M+

Initial Deposits

$89.74

Cost Per Acquisition

12x

Return on Ad Spend

Company

Robinhood

Industry

Finance & Trading

Duration

90 days

Budget

$7,000,000

Objective

Leveraged behavioral interest targeting and crypto-native audiences to drive commission-free trading adoption across Gen Z and millennial investors.

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Campaign Overview

Robinhood, the commission-free trading platform, sought to expand their user base beyond traditional social media channels to reach crypto-savvy investors and trading enthusiasts. With a total ad spend of $7M over 90 days, the campaign targeted users actively researching investment strategies and showing high financial intent.

Strategy

The campaign employed strategic audience targeting across behavioral and interest-based segments:

Audience Targeting: Targeted retail investors, high-risk users, and perpetual traders, interested in investment and forex trading for traditional market expansion.
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Retargeting Strategy: Sequential messaging emphasized fractional shares, crypto trading, and instant deposits to convert prospects.
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Brand Positioning: Zero-fee messaging highlighted commission-free advantage over traditional brokerages like E*TRADE and TD Ameritrade.
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Campaign Optimization: Multi-touch campaigns prioritized 18-35 demographics with $40K-$150K household incomes across US markets.

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Results

Total Conversions: 78,000 new account openings across targeted demographics
Total Sales: $85,750,000 in initial deposits within first week of account activation
Total Reach: 42.6 million impressions delivered across finance and crypto-focused websites
Click-Through Rate: 892,000 total clicks with exceptional mobile device performance metrics

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Inactive-State

Active State

Execution

Precision Audience Targeting: Active Wallets and Token Holders targeting reached users with demonstrated crypto investment experience and readiness to diversify portfolios
Cross-Platform Strategy: Personal Finance and Investment/Trading segments captured traditional investors seeking commission-free alternatives to expensive brokerages
Zero-Fee Value Proposition: Commission-free messaging resonated strongly with cost-conscious millennial and Gen Z investors seeking affordable trading access

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Insights & Learnings

Robinhood's campaign demonstrates how behavioral and interest-based targeting drives exceptional user acquisition results. Combining crypto-native audiences with traditional finance segments achieved massive scale while maintaining cost efficiency. This precision targeting approach proves more effective than broad demographic strategies in competitive finance markets.

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