Context: SoFi is a fintech company that offers loans, banking, credit cards, wealth management, investing, and other financial products.
Great article with many insights! Was just curious about a few things regarding Experiment #1 (SoFi's referrals):
1. Do you know if the impact (where referrals accounted for 40% of signups) was sustained after 3 months?
2. Are signups in this context referring to account opens or deposits?
Thank you for sharing!
Thanks for the question!
- Yeah it basically went from 2% to 40% of sign-ups and it took 3 months to get there and it did sustain after 3 months.
- sign-ups in this case is signing up and and linking your bank account
Hi Kunal! Thanks for getting back to me so quickly, I appreciate it!
I just had a few more follow-ups:
- Do you know if these changes included changing the referral reward? Or did that remain unchanged ($25 per signup for the referrer)?
- Do you know if these changes were introduced incrementally in a single experiment or across multiple experiments (I'm assuming the latter)?
Thank you again!
Great article with many insights! Was just curious about a few things regarding Experiment #1 (SoFi's referrals):
1. Do you know if the impact (where referrals accounted for 40% of signups) was sustained after 3 months?
2. Are signups in this context referring to account opens or deposits?
Thank you for sharing!
Thanks for the question!
- Yeah it basically went from 2% to 40% of sign-ups and it took 3 months to get there and it did sustain after 3 months.
- sign-ups in this case is signing up and and linking your bank account
Hi Kunal! Thanks for getting back to me so quickly, I appreciate it!
I just had a few more follow-ups:
- Do you know if these changes included changing the referral reward? Or did that remain unchanged ($25 per signup for the referrer)?
- Do you know if these changes were introduced incrementally in a single experiment or across multiple experiments (I'm assuming the latter)?
Thank you again!