SmartyPig uses word of mouth to encourage savings

SmartyPig offers a free online financial savings service that allows users to create profiles, establish savings goals and have their friends and family contribute.

Founders Mike Ferrari and Jon Gaskell describe the concept:

We thought, what if we could give our customers the opportunity to make their accounts public (or not), so that their mom, dad, grandma, grandpa, friends and other family members could help them save up, creating an opportunity to reach their savings goals even faster?

Not only does this feature allow users to save more quickly, but it encourages initial users to tell people they know about SmartyPig.

The Lesson: When it's in your customers' best interest for more people to know about your service, people talk about you.

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