KPIs: Two-sided marketplace growth
Blog post from Mixpanel
Mad Paws, an Australian company often likened to "Airbnb for pets," offers a solution for pet owners seeking affordable and insured pet boarding, along with services like dog walking and pet sitting. Founded by Alexis Soulopoulos, the company initially faced a liquidity issue where high demand from publicity outpaced the supply of responsive pet sitters. Using analytics from Mixpanel, Mad Paws identified unresponsive sitters and implemented a smart notification system to connect pet owners and sitters effectively. The company relies heavily on data analytics for decision-making, investor attraction, and synchronizing operations, focusing on metrics such as bookings per customer and conversion rates to drive growth. They also adapted marketing strategies based on data insights, such as targeting dog-walking customers within the first 30 days to increase retention and customer lifetime value. The company communicates its objectives and key metrics through established OKRs, ensuring team alignment and accountability while recognizing the unique challenges of their industry compared to traditional e-commerce or food delivery sectors.