A comprehensive marketplace performance management strategy is necessary to unlock the true profit potential of an online marketplace. This white paper covers the top 20 Key Performance Indicators (KPIs) that form the foundation of such an ongoing performance management effort.
Marketplace Key Performance Indicators, or KPIs, are a means of evaluating the performance of the marketplace. Using the various objectives that make up the marketplace KPIs, one can get a thorough understanding of what is working and what isn’t with regards to the marketplace reaching its operational and strategic goals. The intelligence gathered from studying KPIs lets one decide what one needs to improve, grow, remain strong, etc. in their competitive landscape.
The first step in this journey is to define what success means. Beyond definition, it’s important that when thinking about KPIs to look at the data through a variety of lenses. This gives you a comprehensive overview of your marketplace business. A lot of times there is a tendency to just focus on growing the user base and ensuring transactions occur, there are lot many other nuances here that one needs to understand to be able to thrive in the incredibly powerful yet very difficult to build and run marketplaces business.
In this white paper we will look at the key metrics an operator needs to measure and manage to initially succeed and continually grow their marketplace.