What key metrics would you look at as a product manager for Airbnb's booking system?

Define Feature:‍

Airbnb's booking system is the feature that allows guests to reserve accommodations or experiences hosted by others on the platform.

Goal of Feature:‍

To facilitate successful and seamless transactions between hosts and guests, ensuring high satisfaction levels on both ends.

User Journey:‍

Guest searches for accommodation/experience -> Guest finds suitable option and sends a booking request -> Host accepts the booking -> Guest stays/experiences and leaves a review.

Metrics:

Adoption

• Number of bookings: Shows how frequently the booking feature is used.
• Number of new users making bookings: This indicates the feature's ability to convert new users into active ones.

Engagement

• Number of messages exchanged between guests and hosts: High interaction can indicate a good match between guest and host.
• Booking acceptance rate: A high acceptance rate indicates that the system is effectively matching hosts and guests.

Monetisation

• Total revenue from bookings: A primary source of income for Airbnb.
• Commission from bookings: Airbnb's cut from each transaction.

Retention

• Repeat booking rate: The proportion of users who make multiple bookings can indicate user satisfaction and loyalty.