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Time to First Sale (TTFS) is a metric that measures the time it takes for a new seller to make their first sale on an online marketplace platform. It is a key performance indicator (KPI) that helps marketplace operators understand how quickly new sellers are able to generate revenue on the platform and how effective the onboarding process is.
TTFS can vary depending on the type of product or service being sold on the marketplace, as well as the complexity of the onboarding process. For example, if the product requires a lot of customization or approval from the marketplace operator, it may take longer for the seller to make their first sale compared to a product that requires little to no customization.
A long TTFS can indicate that the onboarding process is too complex or time-consuming, which can be frustrating for sellers and may discourage them from continuing to use the platform. On the other hand, a short TTFS can indicate that the onboarding process is efficient and effective, and can encourage new sellers to continue using the platform.
Marketplace operators can track TTFS by monitoring the time between when a new seller signs up for the platform and when they make their first sale. By analyzing this data, operators can identify areas where they can improve the onboarding process and reduce the time it takes for new sellers to generate revenue on the platform.
