Scaling a Marketplace Product

Paul Zeckser led product ad HomeAdvisor from 2011-2020 as well as founded Fresh Product Design, a full-service product strategy and development consultancy. He is now the VP of Product Development at Sealed. In this guide he lays out how product, sales and marketing and operations should coordinate to scale marketplaces. He covers metrics to track, how to think about matching, and guidelines for monetizing marketplace transactions.

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Questions covered in this guide:

What are the different types of online marketplaces?

Who are the different product and ops team members who work together to manage a marketplace? What are the options for structuring the org?

What are the key responsibilities of a marketplace product manager (especially as they differ from other software PMs)?

What key metrics should you track within a marketplace?

How should you choose and use a North Star metric?

What type of data analytics should marketplace companies set up as they scale?

What are the different options for monetizing a marketplace? How should you think about setting and adjusting prices or commissions?

How should marketplaces think about facilitating and monetizing payments between buyers and suppliers?

Which teams are responsible for driving the buy-side of the marketplace? What tactics are common for marketing to and driving usage among buyers?

Which teams are responsible for driving the supply side of the marketplace? What tactics are common for recruiting and suppliers?

How can you prevent disintermediation?

What steps can you take to ensure consistently high supplier quality?

How can you continue to grow the top line when faced with supply limitations?

What legal and compliance roles and tasks are important to establish?

What are the most important pieces to get right?

What are the common pitfalls?

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