Strategies for Overcoming Challenges in Low Frequency Marketplaces

Low frequency marketplaces face significant challenges in owning demand and maintaining visibility, especially when customers may not interact with the service for extended periods. To address this, four strategies can be employed: Firstly, improve visibility on external networks such as Google, TikTok, and Instagram where potential customers congregate. Secondly, create memorable product experiences that ensure customers recall the service even after long intervals, as demonstrated by Airbnb's appealing offerings. Thirdly, encourage frequent engagement through community building or non-transactional browsing behaviors, as seen with Zillow, which keeps users connected even when transactions are infrequent. Finally, frame the product as essential for safeguarding users in case of emergencies to foster a continued relationship. However, it's crucial for companies not to over-optimize for immediate monetization, as this can stifle growth and limit opportunities for expansion. Balancing short-term gains with long-term brand development and customer loyalty is essential for sustaining success in the competitive landscape of low frequency marketplaces.