The Marketplace Metrics That Matter For Belong (Sparsh Chat Clip)

29 Dec 2021 · 2 min

Watch on YouTube

1:36

This content was created by Max Brun. This content was uploaded by Max Brun. This is a YouTube clip titled "The Marketplace Metrics That Matter For Belong (Sparsh Chat Clip)" (uploaded 2021-12-29). It contains an English discussion between two speakers (labeled SPEAKER A and SPEAKER B) about marketplace KPIs for early-stage launches. The speakers—discussing GM responsibilities and P&L—identify two primary metrics: listings (as a measure of network growth) and NPS (to drive homeowner referrals), and also note the importance of lowering the cost curve to make the marketplace flywheel more profitable.

Chapters

What are some metrics or kind of like KPIs that you look at in some of the markets to kind of measure what a healthy market looks like?
Yeah, so the number that— there's just 2 things that are top priority, right? Ultimately, as GMs, we own the P&L and everything's a priority, but the 2 things that are most important in the early stages of launch, and I'll put it in terms that are relevant to the marketplace I'm leading right now, is listings, which is really a representation of network growth. So if we were to generalize, it's really focused on, okay, again, how do you grow that side of the network that drives your marketplace? It keeps coming back to that. For us, it's listings, right? Bringing homeowners on board and listing their homes, then they're officially in our network, unlikely to back out, and that gets our flywheel turning. So listings is the number one goal. And then number 2 is NPS, which is— and really goes neck and neck, but, uh, like, how do we service those homeowners that we bring on so well that they want to recommend us to every single homeowner they know, right? And every single person they know. And that's how you would really accelerate that flywheel. That, that's what will be the catalyst. And, uh, like we've talked about several times now, bring down the cost curve, which is incredibly important, right, to, to build a flywheel that's not only turning and growing your business, but also doing it more profitably with each turn. So those are the 2 main metrics.