Goldenberg: Fintechs should optimize cost per offer, not cost per application
Jeff Goldenberg · His company has lended $400m via unique canadian model with Jeff Goldenberg · Feb 7, 2016 · at 4:03
Jeff Goldenberg, Head of Growth at Canadian marketplace lender Borrowell, discusses loan funnel metrics and customer acquisition cost tracking.
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“I think an interesting point in the funnel to focus on is a cost per offer, how much it costs us to generate an offer to someone that we're able to do business with. Because if you measure it at the application level, it takes into account all those people who applied that didn't qualify, sort of lower credit customers So we try to optimize for a cost per offer and figure out which channels can deliver the lowest cost per offer.”
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