Lyft rider booking conversions plateaued when driver ETAs reached three minutes
Benjamin Lauzier · How marketplaces win: Liquidity, growth levers, quality, more | Benjamin Lauzier (Lyft, Thumbtack) · Sep 29, 2024 · at 19:32
Former Lyft product leader Benjamin Lauzier explains the market health metrics and ETA thresholds that dictated rider conversion.
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“What will predict you deciding to book a ride for Lyft and for Uber, it was ETAs. So we knew that if we had if the closest driver was at least three minutes away from you or closer, then we had hit a ceiling. You were more than like X percent likely to, you know, to convert and book a ride. If it's more than three minutes, if it's five, then maybe you check at Uber, maybe you walk, maybe you take the bus. If it's two minutes, it doesn't make a big enough difference. You're just gonna book the ride anyway.”
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