Have you ever wondered why it's so difficult to build a marketplace? What makes the specificities? Why it's hard to grow and you could growth hack one side?
Then, you should take a look at this keynote.
5. STRUCTURE OF A
MULTI-SIDED MARKETPLACE
THE CONSUMERS
Users who are
interested to buy
services/products.
THE MARKETPLACE
The product you
have built that
connects each side.
THE PROVIDERS
Users who provide
& sell products on
your marketplace.
6. WHEN BUILDING A MULTI-SIDED MARKETPLACE,
YOU GOT TO DO ONE OF THE TWO THINGS
✓ Manually force one side of the market. This is what
Envato and Uber did.
✓ Or simply design a product where your buyers are also
your sellers. That is what happened to Etsy and
LeBonCoin.
7. “ I would say that for any marketplace,
maybe with the exception of
commodities, they all started to focus
on supply first.”
MICHA KAUFMAN, FIVERR CEO.
8. TRACTION VS GROWTH
(for more: Growth Hacker TV Episode 49)
TRACTION & PRODUCT
OPTIMIZATIONS
Automated hacks,
blog/social posts, link
baiting...
GROWTH
Search, display, social
(facebook, linkedin...),
viral word of mouth,
sales.
FIND GROWTH
EQUATION
& REACH PMF
9. “ There is a time for traction and there
is a time for growth. ”
BRIAN BALFOUR, VP OF GROWTH AT HUBSPOT.
11. THE PAYPAL HACK
GROWING ON THE BACK OF EBAY
DRIVING
Provide a link in the
message that
explains how to
setup Paypal.
INTERACTING
Impersonate a
customer trying to
buy with Paypal.
(send message)
TARGETING
Every seller on
eBay who does not
provide Paypal yet.
12. “ The stakes are huge because of
superplatforms giving access
to 100M+ consumers. ”
ANDREW CHEN, GROWTH HACKER.
15. GROWTH HACK
THE CONSUMER SIDE
OUR MARKETPLACE
When someone is adding
an item to our
marketplace, let give him
the opportunity to push
him automatically to a
bigger marketplace.
OPN
PUSH OUR
ARTICLE ON-
DEMAND
16. TWO ADVANTAGES
✓ Increase our sales through these bigger
marketplaces. But we need to make the process
transparent to our current sellers. (intermediary job)
✓ Use the product description to introduce our GoPro
marketplace and drive some visitors.
17. LET’S FOCUS ON EBAY
FOR THE MOMENT
DRIVING
Use the product
description to
introduce our
GoPro
marketplace.
INTERACTING
Automatically add
products from our
marketplace to
eBay.
TARGETING
eBay buyers
interested by
GoPro products.
18. WE HAVE TWO SOLUTIONS
Using the official eBay API to submit items for listing
on eBay. This would be better. :)
But let’s introduce PhantomJS as this tool will allow us
to replicate this hack on every marketplace that have
no public API available.
Additional libraries: CasperJS & SpookyJS.
20. BE CAREFUL ABOUT A FEW THINGS
WHEN EXPERIMENTING
✓ If you are kind of borderline, do not use your personal
information and please, use a proxy! (the cheapest are
on instantproxies.com)
✓ If you want to use brutal force, know that some
companies may file a lawsuit against you. (ex:
LeBonCoin.fr)
21. RESOURCES TO CONSULT
ON A WEEKLY BASIS
✓ GrowthHackers.com & GrowthHacker.TV
✓ Scraping.pro & CoElevate.com
✓ Hackisition.com