How to Earn Money from Upstox without Investment in 2024

Upstox offers one of the most lucrative referral programs in the industry. For every successful referral who opens a Demat account, you get rewarded with free stocks worth up to ₹500. The best part is there is no limit to how many friends you can refer.

What is Upstox Referral Programs?

Upstox has one of the most rewarding referral programs for opening a Demat account. For every friend you refer who successfully opens an account, you get free Upstox shares worth up to ₹500. There is no limit to how many people you can refer.

How to Earn ₹5000 everyday Upstox?

This presents a great opportunity to earn a sizable passive income. If you refer just 10 people daily who open an account, you can easily earn ₹5000 every day!

To get these referrals, start by telling your family and friends about Upstox. Inform them about the low brokerage charges, fast account opening process, quick fund transfers and other benefits. Share your own positive experience of using Upstox for trading and investments.

Also actively promote the Upstox referral offer on your social media platforms like Facebook, Twitter, WhatsApp status etc. Run contests and give a little reward to the 50th or 100th person who signs up with your link.

You can also directly reach out to working professionals, business owners, traders etc who actively look for Demat accounts. Conduct presentations at colleges. Set up Upstox branded stalls at exhibitions and events.

The key is to get the word out to relevant audiences who need Demat accounts. Don’t spam people unlikely to use your link. Follow up with leads and nurture them to increase conversion rates.

With a focused approach, you can easily refer 10 or more quality leads daily. This can help you achieve your goal of earning ₹5000 daily from the Upstox referral program without any personal investment.

Spread the Word Among Friends And Family

Inform your family members, relatives, colleagues, and connections about Upstox and its low-cost brokerage services. Share how you have benefitted from using Upstox for your trading and investments. Your personal experience adds credibility and will convince them to open an account using your referral link.

Promote Upstox referral links on Social Media Actively

Social media provides a wide reach to get more referrals. Post about Upstox’s referral offer on your Facebook, Instagram, Twitter, LinkedIn, and other platforms. You can even run Facebook ads to spread awareness about Upstox’s brokerage services and fees.

Leverage WhatsApp Groups

Send your Upstox referral link to relevant WhatsApp groups related to trading, investments, business, startups, etc. A personalized message explaining Upstox’s features increases conversion rates. Follow up with interested members via chat or call.

Host a Contest or Giveaway

To attract more sign-ups, you can host a contest or giveaway for people who open an account using your referral code. For example, you can give the 50th referral a gift voucher. This creates a sense of urgency. Announce the contest on social media and WhatsApp.

Offer Value-Added Advice

Don’t hard sell. Offer to help people make the account opening process smooth. Guide them on documents required, account opening process, funding the account, and any other assistance required. This extra help can convince more people to open an account with your link.

Target the Right Audiences:

To get the most referrals for Upstox, you need to target the right audiences who are likely to open Demat accounts. Some key groups to focus on are:

Business Owners And Working Professionals

Business owners, entrepreneurs, startups, freelancers, and working professionals actively look for brokerage accounts. They have higher potential for investments and trading. Pitch Upstox to them as a feature-rich yet affordable solution.

College Students

College students are potential future customers. Conduct sessions at business and engineering colleges to highlight Upstox’s mobile app, trading platforms, zerom brokerage plans, and digital KYC process. Distribute your referral code at the end.

Get Creative with Promotions

Take part in exhibitions, flea markets, food festivals, or public events. Set up a Upstox branded stall with brochures and your referral code on QR cards. Offer discounts or vouchers to entice visitors. Capture their details for follow up.

Ask Satisfied Customers for Referrals

Approach your own referred customers who are happy with Upstox’s services. Tell them about the referral program and request them to share it with their own network. Satisfied users provide authentic recommendations.

Use Email and Visiting Cards

Add the Upstox referral link and message to your email signatures and visiting cards. This acts as a constant reminder for people to open a Demat account using your code.

Grow Your Influence

Register as Upstox Partner. Upstox has an influencers program that allows you to register as an official partner. Partners get lots of marketing material and content to promote the referral program on their blogs, videos, podcasts, etc. They also get better rewards.

Monitor UPSTOX earning and Improve Performance

Log the number of people referred versus the number of successful account openings. This conversion rate data will reveal the effectiveness of various promotion methods. You can then fine-tune your strategy.

Follow Up with Inactive Leads

Follow up with people who showed initial interest but didn’t open the account. Some may have just postponed signing up. Retarget them with new exclusive offers from Upstox to nudge them.

Focus on Quality over Quantity

Avoid spamming your referral link randomly to people unlikely to use it. Target people who have an interest in stocks and need Demat accounts. Nurturing leads gives higher conversion than mass spamming.

By following these tips for promoting Upstox’s referral program strategically, you can maximize your referral income without any personal investment.