#MillenniumLive , CIO , Healthcare , Millennium Staff
Contributed by Slickdeals
Founded in 2011, SoFi is an American online personal finance company based in San Francisco, California. They provide a vast array of financial products including student and auto loan refinancing, mortgages, personal loans, and more to their 3.5 million members.
In 2019, SoFi launched its SoFi Money product. Looking to drive new user acquisition and promote awareness of their newest product, they partnered with Slickdeals to activate high-intent users and establish a presence within the Slickdeals shopping community.
Activating an Engaged Audience
Slickdeals users are financially-savvy and are always looking for ways to maximize their savings and diversify their portfolios.
- 4.5M Slickdeals shoppers have an affinity for banking services and are avid investors
- Slickdeals visitors are 1.8x more likely to visit Personal Finance websites than the average internet user
- 1.3M Slickdeals shoppers are in-market for a financial or investment service
Knowing that Slickdeals users have an appetite for personal finance deals, the Slickdeals team used its resources to determine what type of offer would be most compelling in the community-based forums.
The team determined that an incentivized promotion, using Slickdeals Rewards as a vehicle for cashback, would receive positive feedback from the community. To stay competitive, Slickdeals recommended offering a $75 cashback bonus when users created and funded an account with $125.
Leveraging the Power of Community
The first $75 bonus offer posted in May 2021 utilized Slickdeals Rebates as a vehicle for cashback. The deal moved through the Slickdeals forums, achieving “Popular” status with no paid media promotions.
After sunsetting Slickdeals Rebates in June 2021, The team re-launched the same SoFi offer in July via Slickdeals’ new Rewards program. The Slickdeals Rewards program allowed for better tracking & attribution and delivered a more seamless user experience for shoppers to receive the $75 bonus.
This time, SoFi’s offer reached Frontpage status with no paid media promotions.
By maintaining a consistent presence in the Slickdeals forums, SoFi was able to boost brand awareness while the Slickdeals Rewards program made it more feasible to expand the longevity of the offer.
Over the course of 8 months, the deal post remained live and generated over 1,700 account signups.
- Drove new user acquisition: 249% increase in SoFi Money accounts created across the Slickdeals ecosystem
- Increased site traffic: 418% increase in outbound clicks across the Slickdeals ecosystem
- Boosted SoFi’s market share: 28% increase in market share on Slickdeals
- Improved brand awareness: 72% increase in “sofi” search term on Slickdeals
Read the full case study here: https://bit.ly/3UGbgSR
Slickdeals is the only shopping platform powered by millions of avid shoppers, where consumers interact to share and discover the most up-to-date information on online shopping deals and coupons. Through the power of human intelligence, Slickdeals has saved its 12 million savvy shoppers $10 billion by providing a forum for deal discovery and shopping discussion; as well as shopping tools such as its free Android or IOS app; its browser extension for Chrome, Firefox and Edge; and its Slickdeals Cashback Rewards program. Slickdeals is one of the top ten most visited shopping sites in the U.S. per Similarweb.
Reach thousands of C-Level
Executives every month.
Do you have content that you feel will
resonate with our audience? We'd love to
welcome you as a guest contributor!
Premium content to our readers
interested in all things business.
Millennium Membership offers Fortune 1000 C-Level executives, leading public sector/government officials, and thought leaders across a variety of disciplines unique and exclusive opportunities to meet their peers, understand industry developments, and receive introductions to new technology and service advancements to help grow their career and overall company value.About Millenium Alliance
Launched in 2017, Digital Diary was created to provide premium content to our members interested in executive education and business transformation. With C-Suite executive and top academic contributors, interviews with industry leaders, and digital transformation insights from technology experts, Digital Diary has all of the professional development tools you need to stay ahead of the curve.
We are dedicated to distributing meaningful opportunities for our reader to increase their personal knowledge, simplify business initiatives, and to have the right information to build their capabilities and leadership skills at every level.
In the midst of disruption across all industries, our members are given the tools they need to digitally transform their organizations.
Joining Mill All is an opportunity unlike any other to connect with the best professionals in your industry and be a part of a community to become the best leader you can be.
500 Companies Attend Each Year