Analytics Teardown for Marketplace Products using (Case Study + KPI Examples)

Note from Ruben: One of my favorite things that we get to do here at Practico is creating actionable content that any company can use to improve their current analytics data. This is what led us to provide a free tracking plan template which has become one of our most popular resources.

We then decided to improve this template by showing you exactly how we would fill it out for different industry types. We have created a completed tracking plan for 4 industries and included several videos to break down the logic at each stage e.g. acquisition events, retention events, etc.

For this article, I’ll let Wiehan take over the blog. He will guide you through the breakdown of our first industry and product: two-sided marketplace products.

1. What we will cover:

We have taken one of the most popular resources that we offer (a tracking plan template) and made it 10x better.

Instead of just giving you a blank template, we have gone ahead and created sample plans for 4 industry types or products:

Marketplace: we used Meetup.
Mobile Gaming: we used Bejeweled. (coming soon)
eCommerce: we used Indochino. (coming soon)
SaaS: we used Wistia.

The focus of this article is on Meetup.

We included all the events that we would track if we were in charge of their analytics strategy and even provided videos explaining the rationale behind each event.


2. Why I should read it and what will I get out of it?

Benefits for both Marketing & Product Teams

Are you tracking all the data you need to make the right business decisions? Or are you constantly scrambling around to piece data together hoping that you get the insights that you need to get more users and grow your product?

You have a bunch of challenges that you are currently facing:

  • Data quality is hard to manage
  • You do not track customers across the customer lifecycle
  • You are unable to uncover your best customer acquisition channels
  • Your results are siloed and based on last touch attribution only
  • Measurement insights are not integrated with other analytics systems across your business
  • Not being able to understand how users behave in your product
  • Measure the impact of experiments and new releases
  • Accelerate the pace of iteration, innovation and decision making
  • Benchmark features on engagement and adoption
  • Personalize your product for maximum impact
  • Determine the highest impact points in your product

Solving the above challenges is the holy-grail for any marketing and product team. Unfortunately, it’s never an easy process without getting your tracking plan sorted.

Meet our sample tracking plan for Meetup. It’s a great starting point for the above-listed challenges you are facing.


3. Overview of Meetup’s App

Meetup allows you to find groups of people near you. Meet like-minded people in real-life to do more of what matters to you. Are you a keen cyclist? Do you collect stamps of historical figures? Whatever your interest is, you can experience it together with groups near you.

Access the Meetup app to follow along:
Visit the website app
Download on the App Store
Get it on Google Play


4. Tracking plan detailed teardown

I’ve decided to tear down the tracking plan into different user lifecycle stages so it’s far easier to consume.

To get full access to the Meetup example tracking plan (Google Sheet / Excel), click on the below button to get your copy.

Let’s tuck into the meat-and-potatoes of our case study.


Customer Lifecycle Stage: Acquisition

During the acquisition lifecycle stage, we want to showcase how Meetup will track signups and how they will be able to track mobile app installations. We’ll also look into how they will identify each user and their unique attributes/traits so that the Meetup teams can learn more about their users.

Watch video recording here:

Sign up funnel visualized
Meetup Sign Up Funnel Visualization

Event and trigger conditions breakdown

Event name Trigger when
Install Attributed Fired every time Appsflyer is able to attribute an install and where it came from.
Sign Up – Started User clicked the “sign up” button to get started with the sign up.
Sign Up – Location Enabled User enabled location.
Sign Up – Location Searched User either (a) search for a city, or (b) they enable their current location.
Sign Up – Location Confirmed User confirmed their correct location and clicked “next” to continue.
Sign Up – Interest Main Categories Selected User selected set of main interest categories and clicked “next” to continue.
Sign Up – Interest Sub-Categories Selected User selected set of sub interest categories and clicked “next” to continue.
Sign Up – Joined Groups User selected groups to join and clicked “next” to continue.
Sign Up – Completed User succesfully signed up for free account.

Marketplace KPI Examples and Questions Meetup Will Be Able to Answer:

  • Which marketing campaign(s) are generating the highest signups?
  • Which marketing channel(s) are generating the highest signups?
  • How many users complete the signup process?
  • Where in the signup funnel are users getting stuck?
  • What are the popular geolocations for our users?
  • What are popular categories of interests?
  • What are popular subcategories of interest?

With the above information, Meetup can tweak and improve their marketing messaging, optimize their signup funnel and ultimately drive a lower CPA.


Customer Lifecycle Stage: Retention

Retention is the new conversions so it’s critical for any business to track how well they retain users. A common strategy to improve retention is to set up notifications (emails, SMS, etc) to guide users towards performing key actions within your app. Meetup will be in a good position to pull off their messaging strategy if they set up tracking for the key actions user take within their application.

Watch video recording here:

Event and trigger conditions breakdown

Event name Trigger when
Login Completed User successfully logged in to the application.
Logout Completed User clicked ‘log out’ button and confirmed log off action.
Updated Profile User updates personal profile.
Started New Group User started a new group.
Viewed Group User viewed group overview and details.
Requested to Join Group User requested to join a group.
Searched for Upcoming Meetups User searched for upcoming meetings in their area.
Meetup Viewed User views details of individual meetup.
Meetup Request to Join User joined and RSVPed for meetup.

Marketplace KPI Examples and Questions Meetup Will Be Able to Answer:

  • What is our overall retention rate?
  • After how many days/weeks/months do users stop using our app?
  • What are our power users doing within the app (daily, weekly and monthly)?
  • What actions do non-paying users take within the app?
  • What actions do paying customers take within the app?
  • Which features within our app get used primarily?
  • Which features hardly get used?
  • What can we A/B split-test to further grow our app potential?


Customer Lifecycle Stage: Referral

Referral is a very effective way of reaching more customers. Meetup will encourage this by getting their current customer to share their content via social media. They should only really encourage referral when users like the quality of their product and its content.

Watch video recording here:

Event and trigger conditions breakdown

Event name Trigger when
User Shared Group User successfully shared group with friends or family.
User Shared Meetup User successfully shared meetup with friends or family.

Marketplace KPI Examples and Questions Meetup Will Be Able to Answer:

  • How often do users share groups with their friends or family?
  • Do they generate new app installations from shares?
  • At what stage during a user’s lifecycle do they share with friends and family?

Referral signups are often a higher quality (at a lower CPA) type of user, so it’s imperative for Meetup to include this into their marketing strategy. By knowing exactly how their current share mechanics perform will allow them to experiment with new ways to drive referral business.


Customer Lifecycle Stage: Revenue

The Revenue portion of Meetup’s tracking is key to help them measure how well they are monetizing their users. Revenue is probably the easiest stage to remember. It is when Meetup’s contacts finally takes the plunge to swap out some of their money for a paid membership. Meetup implemented a subscription-based pricing model which should make it much easier to analyze as oppose to revenue amounts that fluctuate depending on the items purchased. From thereon; they can easily calculate their average user Lifetime Value (LTV) and the levers they need to pull to impact this figure.

Event and trigger conditions breakdown

Event name Trigger when
Subscription Plan Upgrade to Paid Started User’s account changes by upgrading, downgrading or deleting account.
Subscription Plan Upgrade to Basic Plan User tapped ‘continue’ button after selecting charge duration from the ‘basic’ subscription plan.
Subscription Plan Upgrade to Unlimited Plan User tapped ‘continue’ button after selecting charge duration from the ‘unlimited’ subscription plan.
Subscription Plan Upgrade to Paid Completed User adds credit card details and successfully subscribed to paid plan.
Subscription Paid Plan Downgraded User downgraded from paid plan.

Marketplace KPI Examples and Questions Meetup Will Be Able to Answer:

  • What is the total of new paying users?
  • What is our total paying customers?
  • Which subscription plans are most popular amongst users?
  • What is our total revenue (monthly/quarter/annual)?
  • What is the lifetime value of our average customer?

5. Conclusion:

Your marketing and product team need to maintain and manage your data quality.

It starts with a solid tracking plan to help you:
a) pick the right events to track;
b) set the correct trigger condition;
c) add the best event properties (attributes) and
d) push event properties to your analytics platform to learn more about your users.

You will be in a much better position to answer tough business questions, reduce your churn and grow in order to reach your targets.


6. Next steps you can take:

If you enjoyed this breakdown, you can get the full tracking plan template through our Web & Mobile App Analytics Bundle. It also includes 3 other industry type plans plus other resources around and Mixpanel. It’s everything you need to get started in analytics.

One more thing before you go! Are you getting the data you need to grow your company?

I find most companies are stuck with high-level metrics and they aren't able to properly understand what actually drives user growth for their web and mobile products. To do that, you need the right data and the right tools.

If this sounds like your situation, then you should download our free tracking plan (and tutorial video). This is the document that you should create before you ever implement tools like Mixpanel, Amplitude, Segment, and Intercom. Click the image below to download your own free tracking plan (and tutorial video).

Wiehan Britz
Wiehan Britz
Husband, Father, Optimizer & Analyst. I help Marketers and Product Managers gain the right access to quantitative and qualitative insights to help drive their business forward. My life consist of a good balance between technical implementations, report generation and spending time with my lovely wife.

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