The Marketplace Metrics & KPI's That Matter For Apartment List (Katrina Chat Clip)

8 Nov 2021 · 1 min

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This content was created by Max Brun. This content was uploaded by Max Brun. This is a YouTube clip titled "The Marketplace Metrics & KPI's That Matter For Apartment List (Katrina Chat Clip)" (published 2021-11-08). It contains a short conversational excerpt between two speakers discussing product and business KPIs: a primary customer satisfaction/rating metric (1–5) for renters and properties, plus monetization-oriented North Star metrics—"registration to lease" on the renter side and "contact to lease" on the property side—to measure how effectively the platform helps renters find apartments and helps property teams convert leads into leases.

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What's your North Star metric or some other kind of KPIs that you're optimizing for?
Yeah. So I think the way that we win as a business is when customers love us. And so on the renter side and on the property side, we look at their satisfaction rate. It's kind of a 1 to 5 rating. And on the property side, we ask for a few different dimensions. On the renter side, we typically ask for one primary dimension. So that's a really important guiding metric, something that Ultimately, foundationally for the business as we grow into many years in the future, we need to make sure that that is really excellent. In terms of the more kind of monetization or business metrics, there's kind of 2 big metrics. So on the renter side, if you come to our site, it's because you need something, you're looking for a place to rent. And so we want to measure whether we are helping you with that by what we call registration to lease. So are you actually finding an apartment that you want to live in and signing a lease with them? And so that's a really important North Star metric on the renter side. On the property side, the, the thing that they care most about is once I get someone in the system, am I able to convert that to a lease? And so that's what we call contact to lease. And it's sort of similarly a measure of how successful we're helping our leasing agents be in their goal, which is filling their open units in their building.