How would you measure the success of Meta (Facebook) Marketplace?
Meta- Bethany Grey
Facebook marketplace allows FB users to sell and buy new/used items from various categories.
FB’s mission is to empower people with a sense of community and bring the world closer together. Marketplace definitely offers that sense of community to me as a user since I often time look for toys, used goods before purchasing it as a new item.
For today’s exercise, I would like to understand the goals of FB marketplace, see how these goals relate to FB mission, map user journey and identify metrics based on this user journey.
User personas:
sellers, buyers, small businesses selling their services,
Goals:
- allow users to list items to sell, and connect with buyers.
- allow users to search for items, and connect with sellers.
- offer shipment for out-of-town items on the marketplace
- facilitates communication between buyer/seller.
User Journey:
- Seller: seller lists item to the marketplace, FB reviews/approves said item, seller gets interest from buyer, decides time /date for meet up or item pickup and completes the transaction.
- Buyer: browse listings on the marketplace to find items that they like, reach out to the seller for availability, decides time/date for item pickup or opts for delivery.
Metrics:
For overall marketplace performance, it is important that sellers are listing items, so tracking # daily items listed/approved to the marketplace should be tracked. if the # items listed on FB marketplace grows, that will increase stickiness for both seller and buyer since this is in turn increase the traffic and interactions via marketplace users.
I would also track the iteractions amongst the seller and buyers, how many messages per listing are sent, how much visibility avg listing is getting, in turn, how long are users spending on FB app when they are using the FB marketplace?
This ties back to the goal FB has for it’s platform, to bring people together as a community and empower them, connect them.
As a secondary metrics, I would also like to track seller/buyer ratings and how daily/weekly/monthly avg rating is trending. This gives a good overview of the health of the marketplace and the genuineness of the users.