Founded in 2011, Ventract started as a call center for property managers and authorities to help collect bids for jobs of all types — from large construction projects to small maintenance projects.
90%
MoM increase in signup completions
70%
MoM increase in contractor participation/profiles
66%
MoM increase in signup conversion rate
To launch a two-sided marketplace, it was crucial for us to establish robust engagement from both contractors and property managers.
NoGood’s squad helped us unlock active participation on both sides — in just 6 months, we saw a 70% growth in contractor profiles and an 150% increase in property manager profiles.
Ronell Owens
CEO and Founder Who is Ventract?
In 2020, Ventract leveraged everything they’ve learned over the past decade to build and launch the next iteration of how their company operates today. Ventract has replaced the limited call center model with a scalable online marketplace that enables property managers to connect directly with contractors. For property managers, the service delivers streamlined to access contractors willing to bid and provides a central tool for organization. For contractors, Ventract opens a new channel for them to build their business and reputation.
Objectives
Drive and maintain <$50 CAC on both sides of the marketplace (project owners and contractors)Establish a monthly growth rate of 30%
Grow monthly account profile numbers
Grow monthly paid users
Challenges
Pivot from a relationship-driven operation to a scalable digital enterprise.
Build a two-sided marketing place in which growth on one side (listed bids) fuels growth on the other side (contractors to bid).
Quickly establish a supply and demand balance in their marketplace by creating predictable growth on both sides (contractors and listed bids).
Squad
Mostafa Elbermawy
Growth Lead
Mark Arpaia
Growth Strategist
Ben Kuriakose
Growth Marketing Manager
Eugene Vaysberg
Growth Marketing Manager
Alek Prus
Growth Marketing Analyst
Claudia Yuan
Creative Designer
Services Provided
- Rapid full-funnel experimentation
- Conversion rate optimization
- Marketplace acquisition strategy
- Content strategy
- SEO
- Design, UX, and copywriting
- Campaign strategy
- Creative copy and messaging
- Media analytics and executive performance dashboard
- Facebook and LinkedIn ads
- Google Search, Bing ads
Approach
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Identified the most critical audience to target and leverage for launch to ensure rapid growth
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Ran optimization tests on product pages and homepage and provided redesign, UX, and copywriting support to increase their efficacy.
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Ran full-funnel experimentation across brand messaging and acquisition channels. Refined audience and location targeting to understand the right message, positioning, and demand.
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Successfully rolled out a media plan for targeted audiences across Facebook, Google, and Bing with adapted creative.
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Deployed an effective strategy for high intent, SEO-driven content creation.
Results
The unique challenges presented with launching a dual-sided marketplace required a customized approach in discovery and strategy development.
For Ventract, it was critical to ensure healthy participation on both sides of the marketplace to achieve rapid growth. Through rapid experimentation and unique growth hacks, we saw a great monthly increase in participation on both sides of the marketplace, marking a 70% growth in contractor profiles and a 150% growth in property manager profiles.
The growth extended beyond the top of the funnel. Since September 2020, when our partnership officially began, we saw a 90% MoM increase in signup conversions, as well as another 66% MoM increase in the signup conversion rate.
An essential element of compounding growth for Ventract was the contractors’ and project managers’ experience on the website. After the end-to-end audit, redesign and optimization of Ventract’s website, we achieved significant improvements in website behavior: the average session duration increased by 37% along with an
69.59%
Monthly increase in contractor participation/profiles
149.81%
Monthly increase in
property manager profiles
property manager profiles
90.06%
Monthly increase in
signup completions
signup completions
65.48%
Monthly increase in
signup conversion rate
signup conversion rate