The Marketplace Playbook

BETA version. If you experience issues, please report them to bec [at] becfaye.com.

TRUE SUCCESS:
The ULTIMATE goal of your Marketplace

As a Marketplace, you have one job only - get your users to the point of their True Success as quickly and painlessly as possible.

True Success - The Subconcious Checklist you cannot ignore

True Success is the point where your users have measured their experience on your platform as 'successful'. Each user has a subconcious checklist that they measure their experience against. This will be different depending on the type of marketplace and also the type of user.

It is your job as the marketplace, to find out what checkpoints are on this subconcious checklist, and find a way to satisfy as many points as possible on this list.

How do your users measure a successful experience of your platform? In order for this to be 'true', it must be based on real facts that you have gathered by speaking with real users

You want to know:

  • At what point do they consider their experience a success
  • What are the checkpoints they use to measure their experience?
  • How can you start to measure the success at each of these checkpoints?

What is in this subconcious 'True Success'checklist?

This is going to vary from user to user, from segment to segment and from marketplace to marketplace. The only way to know for sure is by talking to as many of your users as possible.

This subconcious checklist may includes various checkpoints like:

  • Item delivered within a certain timeframe (define the timeframe)
  • Delivery was smooth and painless (bonus points for an enjoyable experience)
  • Item satisfied or exceeded expectations
  • Follow up customer support was amazing

Now you can imagine if this was the checklist of your user, and you were able to exceed their expectations across each of these checkpoints your users is going to be pretty impressed with their experience.

The Reward of True Success

By being able to identify and satisfy True Success for your users, you will be rewarded: positioning marketplace you will build a much better product that satisfies their true desires.

  • With returning users
  • Users become advocates and tell all their friends.
  • Increase in transactions
  • Overall increase in your marketplace performance
How to identify True Success for your Marketplace?

The only way to truely identify True Success is by speaking with and learning from your users.

Depending on on how long you have been running your marketplace for, you may already have a clear idea of the subconcious checklist that your users use. It's time to sit down and write what you think this checklist looks like.

If you're new with your marketplace, definitely speak to every single user you can, and start noting down what you think their Subconcious Checklist looks like. The more information you know around this, and the sooner you can start exceeding their expectations the better!

Over time you will tweak what True Success means, and you will get more and more granular over time.

To learn how to apply this, here is some recommended reading:

Register for The 8 Pillars to Marketplace Success Masterclass

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