Attacking in an emerging market –lessons from the Ukraine

Population

40M+

Net annual worth

15,9B

Internet penetration

60%

Properties sold in 2014

Over 178,000

Market data

30-35К

Agencies

Rentals

1M

Activeagents Listings Traffic

Player 1 3 057 Player 1 180 590 Player 1 1.3M

Player 2 2 949 Player 3 175 000 Player 3 660K

Mesto.ua 2 642 Player 2 104 717 Mesto.ua 370K

Player 3 1 379 Mesto.ua 102 614 Player 2 320K

OnlinepictureDec2014

Investment in design and UX

We think we have the best looking product on the market, but we keep on developing UX and design.

This not only increased conversion rates and ours are quite high at 22%, but also increased time spent on site and returning customers.

Innovation and education

You need to invest in the relationship with the customer and keep adding features which on their own would be enough for the customer to come back, but joined with a lead generating machine they have no choice but to come to you.

Keep on adding extra features to the platform and make the agents life easier. If you’re only providing leads, then someone with a bigger budget can come along and crush your business.

Educate the market – especially in an emerging market, agents don’t fully appreciate the online world and need schooling on the full capabilities of the platform and how the website can cut their time and costs and speed up the sales process.

Content quality – we take great pride in the quality of our content. We know from some aggregator partners that 89% of our listings have images where by our closest competitor has around 65%. Images as you all know are the main criteria for quality.

We think that the business should work bottom up, meaning that we need to hear what our customers really want and implement those ideas into the product and service.

Without this you lose the customer and customers are the most valuable asset you have.

Customer relations

4 keycomponents to any team:

Ability to think on their feet Outside the box thinking.

Everyone has to be on the same page. Clear vision going forward.

Invest in your team.

Our Team

Go against the flow – do the opposite of what the competition is doing.

At least this was the case for us.

Extra tips

Opinion of the agency who put these up:

The best billboard they have seen.

0

100,000

200,000

300,000

400,000

500,000

600,000

Listings

Mesto.ua Player1 Player2 Player3

010,00020,00030,00040,00050,00060,00070,000

DailySessions

Player3 Player1 Player2 Mesto.ua

Results

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

Activeagents

Mesto.ua Player1 Player2 Player3

Our most valued stat

Activeagents Listings Traffic

Mesto.ua 8 193 Mesto.ua 541 623 Mesto.ua 1.6M

Player 1 3 865 Player 1 315 472 Player 1 1.4M

Player 2 1 303 Player 2 182 339 Player 2 550K

Player 3 3 557 Player 3 213 390 Player 3 416K

Where we are now: