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[G2] PR-9 Metrics (Stage 2: Metrics during the Growth Phase (Producer…
[G2] PR-9 Metrics
Stage 2: Metrics during the Growth Phase
Don´t kling to outgrown metrics
consumer ratio´s
search
consumer LTV
rate of conversion to sale
frequency of consumption
Producer ratio´s
listings created
Producer LTV
outcomes achived
frequency of producer participation
interaction failure
producer fraud
Producer-to-consumer-ratio is Key
General metrics
side switching rate
distance between consumers and producers
Interaction conversion rate
Platform
the rate of interaction success and the factors that contribute to it
foster sustainable repetition of desirable interactions
positive network effects and the creation of enormous value for everyone involved
Stage 1: Metrics during the Start-Up Phase
Basic Categories
Trust
Liquidity
Matching quality
Formulas based on:
Types of users
Form of values created and exchanged
Nature of Platform
variety of interactions performed
Specialized Metrics
percentage of active users
number of interactions
time between interactions
interaction capture
engagement per interaction
Stage 3: Metrics during the Maturity Phase
Elements of smart Metrics Design
Avoid "vanity metrics"
e.g. total sign-ups
pass the 3-A test
accessible
auditable
actionalbe
keep it simple
never ,ose track of the number of happy customer´s on every side of the network
Metrics requirements
high signal-to-to-noise ratio
facilitate resource allocation
drive innovations
study the extensions of provider´s
Traditional pipeline business metrics
designed to gauge the efficiency of this value flow from one end of the pipeline to the other.