Kinderfee is a community market place for babysitters and nannies. This presentation contains some insight on how we tackle trust and safety on our platform. http://www.kinderfee.de
The presentation was held at hte Berlin Startup Campp 2013- Just for the avoidance of doubt, this is a high level overview.
2. www.kinderfee.de - www.facebook.com/kinderfee - @daan-kinderfee
Evolution - The nature of online market places has undergone
a transformation
Online
Classifieds
Auction / Reverse
Auction Marketplaces
Community
Marketplaces
Prevalent from 1990+ Prevalent from 2000+ Prevalent from 2010+
Much higher CLTV
Particularly good for
marketplaces that require
a large element of trust
Slightly higher CLTV
More trust & services
than online classifieds
Low CLTV
Monetisation either
through Ads or
Subscription
Known counterparty
Handling of payment
Transactional knowledge
Additional services
Transaction made on
platform
Enables user ratings
Searchable list of
available offers
Low trust & low
convenience
The future
3. www.kinderfee.de - www.facebook.com/kinderfee - @daan-kinderfee
BCG – product life cycle matrix
Online
Classifieds
Auction / Reverse
Auction Marketplaces
Market share %
Growth%
Community
Marketplaces
Low investment requirements
High margins / cash flows
Slowing growth (imminent)
In early growth phase
Rising stars & questions
marks
Showing huge growth
9. www.kinderfee.de - www.facebook.com/kinderfee - @daan-kinderfee
1
3
Community & culture
Information & selection2 Known counterparty
4 Accountability 5 Other stuff / trust hacks
Key learnings from 2 years of Kinderfee
10. www.kinderfee.de - www.facebook.com/kinderfee - @daan-kinderfee
1 Community
Rule 1: A market place is made up of its users
Rule 2: As a P2P market place, if you have shitty users it
means that you are a shitty company
(yes, even if your design is awesome)
29. www.kinderfee.de - www.facebook.com/kinderfee - @daan-kinderfee
Information creates transparency
Transparency gives you the ability to react to behavior in
your marketplace
3 Information & selection
30. www.kinderfee.de - www.facebook.com/kinderfee - @daan-kinderfee
3 Information & selection
Manual curation is an excellent way to
improve the quality of users on your site –
especially while the site is small
31. www.kinderfee.de - www.facebook.com/kinderfee - @daan-kinderfee
vs.
Traditional online marketplaces introduced user ratings to
solve this problem
User ratings are a powerful tool, but they have several issues:
On avg. only about 10-15% of purchasers post a rating
The people that end up giving a rating tend to be the people that have extreme feelings. They either
had a great or an awful experience, but rarely inbetween.
In marketplaces where two way ratings are possible, people are skewed to give good ratings
If accounts are anonymous it is really easy to create several accounts and hence influence your own
ratings
3 Information & selection
32. www.kinderfee.de - www.facebook.com/kinderfee - @daan-kinderfee
The solution for this one is that you handle the payment
between the parties
Watch what
people do and
not what they say
It means you know exactly who is buying from whom
It means that instead of relying on user ratings we use the customer’s actual
behavior to judge his happiness
It means you catch 85% of extra signal
3 Information & selection
34. www.kinderfee.de - www.facebook.com/kinderfee - @daan-kinderfee
So you now we have all this highly relevant information that
we collect about our caregivers performance
And we decided to make all performance metrics that we
collect available to our caregivers
4 Accountability
36. www.kinderfee.de - www.facebook.com/kinderfee - @daan-kinderfee
- Is the babysitter safe?
- Will the guest trash my place?
- Will the cleaner steal my stuff?
- Am I being ripped off?
5 Other stuff – trust hacks
37. www.kinderfee.de - www.facebook.com/kinderfee - @daan-kinderfee
- Is the babysitter safe?
5 Other stuff – trust hacks
Meet Manami for
a personal
interview
Make it personal and keep barriers low