Everything Marketplaces
Marketplace & Product Insights From Tripadvisor & Tinder With Ravi Mehta
Jun 8, 2024
Ravi Mehta, a former Chief Product Officer at Tinder and Product Advisor for various marketplaces, shares his insights on strategic frameworks for driving demand. He discusses how TripAdvisor transformed into a transactional marketplace and outlines five essential strategies for marketplace founders. The conversation also delves into the role of AI in reshaping market strategies and highlights crucial skills for hiring the first product manager. Ravi emphasizes the importance of learning loops in startups and the evolving dynamics of consumer trust.
44:54
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Quick takeaways
- Understanding demand generation is essential for early-stage marketplaces, as factors like price, trust, and discoverability significantly influence user retention.
- TripAdvisor's transition from a content platform to a transactional marketplace highlights the need for businesses to adapt and diversify offerings to meet evolving user needs.
Deep dives
Key Learnings for Early Stage Marketplaces
Understanding demand generation is critical for early stage marketplaces, as capturing and retaining demand can be more challenging than securing supply. Robbie outlines five crucial factors to sustain marketplace demand: price advantage, exclusive supply, discoverability, trust, and fulfillment advantages. For example, platforms like Amazon succeed by offering low prices, while Etsy thrives on unique products that are hard to find elsewhere. Focusing on these elements allows founders to create a compelling proposition that attracts and retains users over time.
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