Provide new opportunities to Thumbtack Pros.
With a recent valuation of around 1.3 billion, Thumbtack is the billion dollar unicorn you've probably never heard of. What do they do? Thumbtack has clearly identified their niche in the local (and digital) commerce marketplace for service providers, and they have been hard at work distinguishing themselves as an authority in the industry.
The question is not "will this work for people," but rather "have they found the right model to maximize profits?"
In my opinion, there's money being left on the table.
So how does it work currently?
Without getting into too much detail, Thumbtack makes money through the Pros that use the platform to find work. A Pro can create an account, customize their profile, get reviews, and browse job requests. Pros buy credits for real money and then spend those credits to submit quotes on relevant jobs in hopes of securing new business. The areas of expertise for Pros include music lessons, personal training, sales coaching, web development, career coaching, business consulting (heyo!), and much more. You can find nearly anything your heart desires!
As a recent Pro on Thumbtack, I love it!
That being said, there's always this lingering feeling of wanting more, more freedom, more control, more functionality, and more ways for me to stand out from the rest of the Pros using the site, all 250,000 of them. So, that got me thinking "I am a consultant by profession, how would I solve this problem?" As the answer hit me, I realized that I would not only be solving my own problems, but I'd be helping Thumbtack overcome some of their profitability and relationship challenges as well! Two birds, one stone.
You know those times where you think to yourself "if only they would do these few things, it would completely change the user experience and they'd make so much more money!?" This is one of those moments.
A strategy that creates a new revenue source, and in doing so, makes Pros feel all warm and fuzzy!
How would it work?
Well, as for those details, that's between Thumbtack and me. Suffice to say that Pros would have the option to pay Thumbtack more money, and in return, see an array of added value. If Thumbtack can recognize the challenge, see the potential, and are hungry to go after it, then I'm ready to team up and work out the solution.
Why am I so confident? Because I'm a Pro with Thumbtack, it's that simple. I know a) what I want and b) what I'm willing to pay for.
I've also spoken to other Thumbtack Pros about their issues with the platform, and I've read through hundreds of reviews from current and "ex" Pros. The mission is clear, it's just a matter of tenacity and keeping an open mind.
I hope you've enjoyed reading! If you've ever had similar feelings about companies you know, love, or otherwise work with, share them in the comments below (just don't give away all the details, it may be worth something to someone!).
Co-Founder of True MAS Media