In marketplaces, always “own the demand”, like @bgurley always says
& as for the initial supply growth: #HackThyMarketplaces
To add: for us @leverageedu as a 3-way Marketplace, – what worked on the 2 supply-sides: Mentors:
1. Water-cooler conversations
2. Word of mouth
2.Feet-on-street ((our own ;)))
On-demand, here’s what @lennysan says:
For us at @leverageedu – the original innovative one was “supply creating demand” – students came to our platform because we had the BEST MENTORS from around the world
to help them find success!
And that’s more of demand broken down:
Minus what’s not on the images – a) supply driven demand & b) good press (thanks to the kind people in early days)..
– both of which worked for us at @leverageedu for initial believers
Found this pretty interesting:
always put a microscope to to it
Very nicely done summary of ‘growth levers’ as you scale a marketplace business.
Performance Marketing & Direct Sales are the immediate ones, that a lot of us jump at.
SEO or other Content Moats are lit / takes a while, & imo best combined w/ product hooks (contd)
Geographic Expansion is a definite one, but “when” is always the key (“when ready”), have had a lot of interesting chats with @dishahdadpuri on this
-Conversion Optimisation.. is GOD/ a personal favourite – needs to be maniacally focused on! (contd)..
.. & this was another interesting one: #Referrals (BEST! channel, of course) Interesting because I honestly would’ve presumed at scale that number would (should?) look at double what this slide says
@gokulr says it best! Excited to be chatting with him in the coming week already
It’s aggregate. Got to play it in its wholeness.
Moat-building 101 + Incremental “powerlifting” Execution
Often underrated, “maintaining the quality” of services at your marketplace.
-Gamification is a necessary one as scale picks up.
-Customer Service, again, basic & GOD at the same time
Search Levers is a really interesting one that I ended up learning about
Thanks @MotwaniSuhas, this was a fun Sunday night, much to learn & structure / always helps accelerate progress! Look forward to more of these cool sessions 🙂