Today, Cricket Wireless formally announced its exclusive wireless relationship with Acorns. Acorns bills itself as a finance app that that focuses on investing. It also offers banking with checking and access to over 55,000 ATMS with no fees nationwide and around the world. The company claims to have over 9 million "sign ups."
Cricket says Cricket customers who sign up for a new Acorns account and invest $5 will receive a $10 investment bonus in their Acorns investing account. And for every month that subscribers pay their phone bills, Cricket will invest an additional $1 into their customers' Acorns accounts. On the flipside, Acorns customers who switch to Cricket Wireless will receive a $20 investment bonus. The new partnership also means that select Cricket phones will now come with the Acorns app pre-installed.
Acorns subscriptions start at $1/month for a "lite" subscription with automatic investments and go up to $3/month for a "personal account" with banking and $5/month for a "family account." Since Cricket will deposit $1 into your Acorns account each time you pay your phone bill, the partnership with Cricket essentially means you will get a free "lite" Acorns account subscription.
Cricket Wireless now has a webpage setup promoting its new partnership with Acorns. Acorns also has a webpage setup detailing the relationship.
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Cricket Wireless $12,5000 Instagram Sweepstakes
Aside from the new relationship with Acorns, Cricket has also announced a new $12,5000 Instagram Sweepstakes that will give 25 lucky winners $500 each. Now through August 9, 2021, you can enter the contest by liking this Instagram post and following @CricketWireless on Instagram and tagging a friend. Each friend tag is good for another 10 entries. Entrants must not have private Instagram accounts. The sweepstakes is open to legal residents of the 50 United States or the District of Columbia but void in Puerto Rico, the U.S Virgin Islands, U.S. Military installations in foreign countries, and all other U.S. territories and possessions and where it is prohibited by law. Winners will be notified on or about August 10, 2021.
Two weeks ago, Cricket Wireless announced a partnership with Sam's Club. Customers who activate on Cricket's $60 unlimited plan ($55 with autopay) receive a free one year membership to the store.
Providers Continue To Look For Ways To Monetize Subscribers And Differentiate Outside Of Wireless
The new 3rd party relationships between Acorns and Sam's Club illustrate ways that providers are attempting to monetize their customers outside of traditional wireless service as well as to give them more ways to differentiate from competitors. Cricket is not the only provider to recently do this. A few months ago, Boost Mobile announced a partnership with DraftKings. Prior to that, Boost also announced a relationship with K Health telemedicine. That relationship gives subscribers of Boost's $60 flagship premium phone plan a free subscription to K Health. For all other subscribers, K Health is available as a $7.99/month plan add-on whereas non-Boost subscribers pay $12/month for a K Health subscription. Last year, Tracfone brands partnered with doc.com to offer telemedicine services in select states. And other providers, like US Mobile, now offer free streaming subscriptions to Netflix among other offerings.