Rabbu Marketplace
A platform where investors can find and evaluate profitable investment properties.
TEAM
Rabbu (3 PMs), Drip Design (2 Designers)
Role
Design Research, UI & UX Design
TimeLine
Mar 2022 - Feb 2023
Overview
Introduction
Rabbu engaged Drip Design to enhance their short-term rental (STR) platform. The collaboration focused on integrating existing tools and introducing new features to assist investors in finding and managing properties effectively.
This case study follows the work for Rabbu Marketplace and Rabbu Portfolio can be found here.
Outcomes
Creation of a holistic platform of tools for assessing and acquiring successful short-term rentals.
MVP launched in October 2022, within one month the platform had 33,000+ unique users who ran estimates, and 2,000+ accounts were created. The project delivered a unified platform of tools for property acquisition and management.
Design research
The Short-term Rental Space
The STR industry is experiencing growth with the rise of platforms like Airbnb and VRBO. There is an opportunity for a new platform that can assist new to experienced investors in finding, acquiring, and managing properties.
Landscape Review
We benchmarked relevant and competing platforms to understand user expectations in functionality and common interaction patterns.
Airbnb
Zillow
Awning
AirDNA
Previous Design Analysis
We evaluated Rabbu's launched tools to better understand product features to identify improvements when integrating them into a holistic platform.
Design Process
Hypothetical User Journey
During our regular meetings with the Rabbu team we were aligned with their ideal user journey, which helped with informing the platform's navigation. Although hypothetical this journey is informed by Rabbu's interactions and user interviews with customers thus far.
1
Learning
A user researches STRs, reading about our services, and discovering free tools we offer.
2
Research
Delving deeper into STRs, using Rabbu for revenue calculations and discovering tools for understanding the market.
3
Investment
The user, now familiar with potential revenue and the market looks to invest in an STR, exploring the out marketplace.
4
Operation
After acquiring an STR, the user is lead to Rabbu's property management services.
5
Expansion
Pleased with the success of their first STR, the user looks to invest in more properties.
Free Trial vs. Freemium
We compared two models for user engagement prior to users committing to a full subscription. The Free Trial model provided a limited-time access to all features, and in contrast, the Freemium model offered fully free features with the option for users to upgrade to premium for advanced features.
General Trends
This is a comparison of general trends when it comes to comparing the two options.
Free Trial
Yields higher activation rates, attracting actively searching users.
Achieves higher conversion from free to paid due to urgency.
Demands more marketing outreach, reducing resource efficiency.
Freemium
Allows self-paced conversion, gradually highlighting premium features.
Results in a higher volume of free accounts.
Improves resource efficiency by reducing the need for aggressive marketing campaigns.
May lead to lower activation rates without immediate pressure to explore all features.
Improves resource efficiency but can reduce direct revenue increase.
Motivations For Choosing Freemium
1
Multiple Features for User Exploration
The platform will offer a mix of free and paid features. The free features will still provide users with significant value, as demonstrated by the successful utilization of Rabbu's previously launched tools.
2
Goal of Increasing User Base
A freemium model is effective when the objective is to expand the user base by attracting more free accounts.
3
Resource Efficiency and User Outreach
Rabbu aims to enhance resource efficiency and explore alternative methods, moving away from the intensive user outreach efforts employed thus far through direct sales teams.
4
Gradual Activation of Paid Tiers
Frequent users can take their time to explore the platform before deciding to upgrade. This flexibility ideally contributes to more organic and sustainable user growth.
Designing for Freemium
Adopting the freemium model influenced our designs, we determined that it would be important to communicate the added benefits of subscribing to a premium account and doing so needs to be a seamless process.
In the example below the user is still able to see the ratings, average daily rate, revenue, etc. for this property but will need to subscribe to see more comparable listings and additional advanced features.
Final Design
Rabbu Marketplace
Rabbu Marketplace is composed of three different sections, Revenue Estimates, Market Data, and Properties for Sale.
Revenue Estimates
Users can run revenue estimates for any US address based on data that utilizes nearby rentals.
Market Data
Users can access real-time and historical rental statistic trends in any given area.
Properties for Sale
Users can view on-market properties and easily filter investment opportunities based on their own criteria.
Key Features
Revenue Estimates
Investment Return Calculator
A tool for investors to determine equity required to acquire a property as well as estimated potential earnings. This calculator can be personalized with custom financial information.
Market Data
Identifying High-Performance Investments
Investors can efficiently compare properties based on their investment goals such as cash flow vs. long term property appreciation. As well as access to Rabbu's property recommendations.
Properties for sale
View On-Market Rental Properties
Investors can browse properties to invest in with underwriting provided by Rabbu.
Design System
Early Stage Design System
Recognizing the need for a cohesive and consistent design approach, this system aims to streamline the design process, ensure consistency across the platform, and facilitate smoother handoffs to the client.
