driving retention and referrals through in-person events - cmx summit west 2016
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© 2016 Social Finance, Inc. Confidential Information. Do not copy or distribute.
CMX Summit West, 2016 Claire Arthurs, Director of Community and Member Success
@ClaireArthurs
© 2016 Social Finance, Inc. Confidential Information. Do not copy or distribute.
About SoFi• Founded in 2012 at Stanford Graduate School of Business • 200K+ members across the United States • Grown from 1 to 6 products • Members get access to more than just a loan
© 2016 Social Finance, Inc. Confidential Information. Do not copy or distribute.
Community?And Banking?
“71% of Millennials would rather go to the dentist than listen to what a bank has to say.”
© 2016 Social Finance, Inc. Confidential Information. Do not copy or distribute.
SoFi Community Activities• Live Events • FB Members Group • Snapchat Channel
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Events are great, but…
…what happens when the free drinks stop flowing?
84% met someone they plan to meet up with again
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Really?
The Business Case for Community
• This sounds expensive… • How will you scale this? • How do you measure the ROI?
© 2016 Social Finance, Inc. Confidential Information. Do not copy or distribute.
Our referral program is a significant channel with very low acquisition costs.
Members who attend an event are 3X more likely to successfully refer a friend.
© 2016 Social Finance, Inc. Confidential Information. Do not copy or distribute.
Don’t let your category…
…define your community.