Chime is a mobile-first neobank offering checking accounts, debit cards, and direct deposit features. Over the last month, paid marketing spend increased from $18M to $24M, but funded new accounts only grew from 420,000 to 435,000, and leadership wants a clear framework for evaluating the health of the user acquisition funnel.
The growth team reports 52M ad impressions, 3.1M app store visits, 1.9M app installs, 1.2M sign-up starts, 780,000 completed applications, 510,000 approved accounts, 435,000 funded accounts, and 290,000 users receiving a first direct deposit within 30 days. Blended CAC rose from $43 to $55 month over month. Day-30 retention for newly funded users fell from 62% to 57%. The CMO believes top-of-funnel efficiency is weakening, while the GM of Banking thinks onboarding and activation are the bigger issue.
ad_campaign_performance: campaign_id, channel, impressions, clicks, spend, date, geoapp_store_events: visit_id, source_channel, app_store_page_view, install, date, device_ossignup_funnel_events: user_id, signup_start_time, kyc_submitted_time, approval_status, approval_timebanking_activation_events: user_id, account_funded_time, first_card_txn_time, first_direct_deposit_time, dateuser_retention_daily: user_id, funded_cohort_date, active_flag, transaction_count, balance, date