10 Things Most Forum Owners Don’t Know About Community Commerce
Thursday, April 11th, 2013
Cross-posted from the ForumCon blog. ForumCon is the only conference dedicated to the business of Forums and will be held this year in San Francisco on June 13.
When Rachel Blaustein wanted to improve the buying and selling experience in her forum, Bhuz.com, she turned to Panjo. “Before Panjo, we tried a mix of rules and plugins. Sellers were getting buried in a confusing pile of emails and private messages. Buyers suffered from poor search tools, terrible product presentation, and lackluster communication from sellers. As the community owners, we got sucked into dispute resolution. Panjo helped us improve the classifieds for everyone.”
Increasingly, forum owners are turning to Panjo to help grow revenue, increase engagement and reduce the administrative burden of running a community. Panjo makes a free marketplace plugin for popular forum software platforms. Panjo also provides payment processing solutions that allow a forum to optionally collect listing, promotion, and final value fees.
Exclusively for ForumCon, Panjo opens the kimono to reveal fascinating statistics that are coming to light based on Panjo’s partnerships with forum-based marketplaces.
- Sellers successfully sell 45% of the items listed for sale in a forum.
- Fellow forum members buy 75% of the sold items. Neighbors, eBay shoppers, and members of other forums purchase the remaining 25% of the items that sell.
- Slightly more than half the sellers list just a single item for sale. The other half of sellers list two or more items a year.
- Nearly 90% of the listings come from the minority of sellers who list more than one item for sale a year.
- Excluding items that cost over $5,000, the average sales price of sold items is $200.
- It takes 15 days on average to sell an item. After 15 days, an item’s chances of selling drop precipitously.
- 40% of community members buy, browse, or sell in the marketplace.
- Including payment processing, eBay’s average take rate (the percent of revenue they make on the gross value of a sale) is 11.6%; Etsy’s take rate averages 9%.
- 23% of forum members browse marketplace listings on a mobile device.
- Each monthly active unique forum user exchanges $10 in gross merchandise volume a year with another forum member. In other words, if your forum has 50,000 monthly active uniques, your members will sell $500,000 of goods to other members of your forum.
All the statistics above reflect averages across Panjo’s network of partners. You can partner with Panjo to unlock a treasure trove of commerce data for your community. To learn more about Panjo’s classifieds plugin for forum software platforms like vBulletin, XenForo, SMF, and phpBB, contact firstname.lastname@example.org or call 1 (424) 272-0291.