Reat Time Audit - number of accounts

GrandpaBrianGrandpaBrian Posts: 679 Silver ✭✭✭✭
By my observations, it seems that since the beginning of August, when the Real Time Audit page went live, there have been some 75,000 new user accounts. The daily pace seems to be accelerating lately so the prospect of 80,000 new accounts in August seems within reach.

I haven't noticed any major increase in marketing initiatives nor has August been a big month for gold, so I am left wondering if the Company is seeing an uptick in the Network Effect.

Any company can blow up a balloon by spending millions on short term marketing but if Goldmoney is seeing an increase in accounts while reducing their marketing spend, then that is a very positive sign. When your existing customers bring in your new customers, the future starts to look very good indeed.

Comments

  • UvasUvas Posts: 680 Silver ✭✭✭✭
    I noticed for a few days, the new accounts added went through the roof. 10-20 thousand new accounts added per day for a few days in a row. It seemed to coincide with the new Swiss frank debit card being introduced. It may have had an effect.

    The new accounts being added seems to slowed down back to normal, or slightly above average.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,818 Gold ✭✭✭✭✭
    There has been exactly 78,046 new account signups so far in August as of this minute. Transaction volumes appear to be increasing too. I can't wait for Peter Schiff to start promoting Goldmoney. I think we will see a significant increase in signups.

    I am thinking the below video being promoted on Youtube has contributed to the new user signups. It was released on August 4th and has had over 60,000 views in just 3 weeks. The video promotion was very well done in making gold understandable as sound money to the average joe.

    Goldmoney.com - Gold Always Wins
  • GrandpaBrianGrandpaBrian Posts: 679 Silver ✭✭✭✭
    Very well done. I like the use of plain language, easy-to-understand examples.
  • PinkdogPinkdog Posts: 511 Silver ✭✭✭✭
    @GrandpaBrian @79Au197 @GoldMatters
    Any guess when we will hit 2 million users? I'm guessing Februay 2017.
  • nigelmarkdiasnigelmarkdias Posts: 1,323 Silver ✭✭✭✭
    December 2016 or earlier @Pinkdog
    Even without India & China.
  • nigelmarkdiasnigelmarkdias Posts: 1,323 Silver ✭✭✭✭
    As you point out @GrandpaBrian this is @Goldmoney organic growth.
    Without buying "likes" from the like farms in Cairo, Lucknow or Karachi

    By my observations, it seems that since the beginning of August, when the Real Time Audit page went live, there have been some 75,000 new user accounts. The daily pace seems to be accelerating lately so the prospect of 80,000 new accounts in August seems within reach.

    I haven't noticed any major increase in marketing initiatives nor has August been a big month for gold, so I am left wondering if the Company is seeing an uptick in the Network Effect.

    Any company can blow up a balloon by spending millions on short term marketing but if Goldmoney is seeing an increase in accounts while reducing their marketing spend, then that is a very positive sign. When your existing customers bring in your new customers, the future starts to look very good indeed.

  • GrandpaBrianGrandpaBrian Posts: 679 Silver ✭✭✭✭
    edited August 2016
    Hitting 2 million has a nice PR ring to it but I don't think it is an over-riding reason for the company to spent its equity capital on chasing such a number. There are accounts and there are quality accounts - the ones which have growing gold balances and growing transactions.. I hope they focus on quality over quantity.

    That being said, my guess for 2 million accounts is by April 2017 unless there is a financial markets panic in which case, it could happen within 60 days of such an event.
  • GoldmattersGoldmatters Posts: 4,068 Admin
    @Pinkdog great question. @GrandpaBrian is right, I think it could be tied to various macro events. It could happen in a blink of an eye if sentiment shifts. Like Jim Rickards talks about, it's all about confidence (or lack there of).

    2 million users will come before any of us expect it I should think :) and each million after in shorter intervals.
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