Gross merchandise value (GMV) - an all time high
more tasks posted
new user sign ups
For the full story, read on...
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THE FULL STORY
Airtasker connects people who need to get stuff done with people looking to earn money. The digital platform has to simultaneously acquire task ‘Posters’ (demand) and make sure there are enough ‘Taskers’ to satisfy their needs (supply).
The Airtasker team came to us with the desire to experiment with methods to deliberately drive growth on its platform, and leverage these learnings to scale into future markets.
Specialities: assembly, pet care, gardening
WHAT THE REVIEWS SAY
“Very nice and caring in trying circumstances! Thanks again”
- Tim S.
To be self-sustaining and profitable as a two-sided marketplace, Airtasker needs to acquire and retain a balanced volume of both Posters and Taskers, which is a challenge in itself. In addition, after listing on the ASX, Airtasker had aggressive goals for global expansion and a desire to prove the brand and business in other markets. To achieve growth they needed to overcome a few critical challenges.
The young Australian-based company and its marketing team were still focused on the primary local market. In addition there was a lack of paid media experience and previous paid advertising efforts had failed to deliver the desired increase in GMV.
Stretching resources to cover the UK would create challenges for the Australian team, and recruiting was difficult in the covid environment.
We had the final 2 months of the 2020/21 Financial Year to convince stakeholders to continue investing in the UK, and to support expansion into other future markets. This required a proven business case, key insights, and a scalable growth template.
The formulation of a highly skilled project team immediately filled the knowledge and skills gap across Paid Social, Paid Search, Strategy and Project Management.
In the UK we applied our Digital Growth Framework to Airtasker’s complex business model, and developed, experimented with, and optimised digital marketing activities to drive ROI.
For the UK market we developed a three point marketing strategy, that was focused on creating demand by recruiting Posters:
Through regular weekly sprints we were able to:
Airtasker gave us their biggest growth challenge and the Webprofits team helped the business to successfully navigate its expansion into new markets during the unpredictable and unprecedented COVID pandemic, setting a UK growth record and establishing a foundation for Australian and US growth in just 10 weeks.
In just 10 weeks Airtasker’s Gross Merchandise Value (GMV) - the key revenue metric - reached an all time high of 76% in the UK. Task posting increased by over 60% and platform sign-ups tripled.
The volume of activity in the UK made it possible for Airtasker to gain valuable insights into audience behaviour and the interplay between supply and demand, which in turn opened doors to scale into the Australian and US markets.
We started working on the Australian market just as the country went into lockdown. Under tough circumstances we fine-tuned campaigns to discover new ‘virgin’ task categories that allowed Airtasker to maintain marketplace activity.
As restrictions eased we implemented and fine tuned a ‘Rejuvenation’ campaign on paid media that successfully retargeted inactive users to get as many Taskers back onto the platform.
The Rejuvenation Campaign saw new user sign-ups increase by 387% and conversions increased by 293% at a cost per acquisition (CPA) 77% lower than the target.
... factoring in market differences, we ran top of funnel brand messaging campaigns to test and learn, to validate USPs and help Airtasker decide where to play and who their brand would resonate with most successfully. We then overlaid these learnings with what we had just validated in the UK.
Launching simultaneously in three key cities (Kansas, Miami and Atlanta), through our structured experimental framework, we rapidly and cost-effectively identified the most successful USPs against specific age groups and locations. This set the foundations for Airtasker to be successful in this new market.
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