The last two businesses I’ve started have been online consumer-focused marketplaces. The first business, DealsGoRound, was a marketplace where consumers could resell their unused Groupon, Living Social, etc. deals to other people. It was essentially StubHub for daily deals. The second marketplace is Betterfly, a place where consumers can find online and local instructors/coaches for things like learning guitar, speaking Spanish or improving their cooking skills. In both cases, consumers came to the website and were presented with a list of items to purchase, either a deal voucher in the case of DGR or a package of hourly lessons in the case of Betterfly.
As the person in charge of the product, it is my responsibility to monitor user behavior and make changes which increase the actions we want to see and reduce those that we don’t. “Actions” can mean all sorts of things from purchasing an item to sharing something on Facebook. For the sake of this post, I’ll focus on getting users to make a purchase.