Car Next Door and the 2nd Law of Marketplaces – Trust is The Product

By: Jeff Nolan | November 29, 2018 | Marketplaces

Car Next Door Growth Team Leader Keal (pronounced “kale” like the vegetable everyone likes to hate) Wilson joined me on a video call to discuss the dynamics of their peer to peer car sharing marketplace that enables car owners to rent their vehicles to individuals they choose.

Car Next Door is an exciting car sharing service operating in Australia. 90,000 members strong, they have paid car sharers over $5 million (AUD) for loaning out cars that would otherwise be sitting idle.

When I did my research on the company, I was struck by how far they go to create a safe environment for people sharing AND borrowing vehicles. This is the heart of the 2nd Law of Marketplaces, and they are an excellent example of a company embracing the notion that trust is the product they are offering.

Keal is insightful and knowledgeable about what has worked well for Car Next Door and where their sweet spot is for value on each side of the marketplace platform.

Here’s a sample of what we managed to fit into the relatively limited slot of this interview. Just imagine what would’ve been covered if we had more time!

  • Achieving ideal root density and how it helps make the car sharing marketplace platform more efficient.
  • Strategies to recruit owners, and ways to increase the amounts of borrowers on the marketplace platform.
  • How to approach customer service and support in such a complex arena.

 

 

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Author: Jeff Nolan

Jeff Nolan is a proven Bay Area based marketing executive with a track record of transforming marketing teams and strategy in enterprise software growth companies. Jeff leads the marketing team at Kahuna, which includes the four corners of successful marketing teams: content, product marketing, demand, and brand.

With extensive experience in security technology and CRM companies, and a founding partner at SAP Ventures, the venture capital affiliate of SAP AG, Jeff is well-equipped to manage the complex tactical and strategic marketing challenges facing companies today.

Fun fact:

Bay Area native, Jeff lives with his family on the mid-Peninsula where he has transformed his home into an urban farm featuring gardens, orchards, chickens, and a thriving beekeeping operation.

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