How a Pricing Meter Improved Acceptance Rate
How a Pricing Meter Improved Acceptance Rate
The pricing feedback meter designed to help load owners align offered prices closely with market expectations, reducing negotiations and increasing bid acceptance.
The pricing feedback meter designed to help load owners align offered prices closely with market expectations, reducing negotiations and increasing bid acceptance.
Role
Role
I led the research process to identify core issues impacting bid acceptance of load and vehicle owners. Analysing user behaviors and conducting interviews to discover actionable insights. Using these findings, I conceptualised and designed features such as the pricing meter, verified market rate tags and also revamped listing & detail pages for both load and vehicle owners. I also was in charge of the UI design, creating a reliable visual hierarchy and improving usability across the platform. I collaborated closely with cross functional teams to ensure that the designs aligned with business objectives and were implemented effectively. This end to end ownership resulted in a significant boost in key metrics, enhancing the user experience and achieving business goals.
I led the research process to identify core issues impacting bid acceptance of load and vehicle owners. Analysing user behaviors and conducting interviews to discover actionable insights. Using these findings, I conceptualised and designed features such as the pricing meter, verified market rate tags and also revamped listing & detail pages for both load and vehicle owners. I also was in charge of the UI design, creating a reliable visual hierarchy and improving usability across the platform. I collaborated closely with cross functional teams to ensure that the designs aligned with business objectives and were implemented effectively. This end to end ownership resulted in a significant boost in key metrics, enhancing the user experience and achieving business goals.
Discipline
UX Design, UI Design
Team Structure
2 Product Designers & 1 Product Manager
Platform
Mobile
Research Methods
User Interviews, Survey, Usability Testing
Time Frame
6 Weeks
Overview
Overview
The goal was to address the low bid acceptance rate in our truck booking marketplace, where load owners post loads with specific vehicle requirements, and vehicle owners place bids on them. While performing user research, we identified a major issue, which is the pricing set by load owners. Pricing often didn't align with market standards which was leading to low bid acceptance. To address this issue, we introduced a "price meter" feature that provides load owners real time feedback on the competitiveness of their pricing. This change led to a significant 53% increase in bid acceptance rates, a 32% reduction in negotiated bids, and decreased the average truck booking time to just 10-15 minutes. Additionally, the overall quality of loads in the marketplace also improved by 24%, as more loads were priced competitively.
The goal was to address the low bid acceptance rate in our truck booking marketplace, where load owners post loads with specific vehicle requirements, and vehicle owners place bids on them. While performing user research, we identified a major issue, which is the pricing set by load owners. Pricing often didn't align with market standards which was leading to low bid acceptance. To address this issue, we introduced a "price meter" feature that provides load owners real time feedback on the competitiveness of their pricing. This change led to a significant 53% increase in bid acceptance rates, a 32% reduction in negotiated bids, and decreased the average truck booking time to just 10-15 minutes. Additionally, the overall quality of loads in the marketplace also improved by 24%, as more loads were priced competitively.
Product & UX Objectives
Product & UX Objectives
Identify the major factors causing the low bid acceptance rate.
Reduce the time and effort required for load owners to secure a vehicle.
Optimise the acceptance experience with research and data driven insights.
Challenges
01
01
Load owners frequently encountered rejections of their loads due to misaligned pricing, causing frustration and delays in securing vehicles.
Load owners frequently encountered rejections of their loads due to misaligned pricing, causing frustration and delays in securing vehicles.
02
02
Both Load owners and Vehicle owners spend excessive time in back-and-forth negotiations, resulting in significant delays in securing a truck.
Both Load owners and Vehicle owners spend excessive time in back-and-forth negotiations, resulting in significant delays in securing a truck.
03
03
Load owners frequently received negotiated bids far outside their price range, leading to an overwhelming number of unsuitable offers.
Load owners frequently received negotiated bids far outside their price range, leading to an overwhelming number of unsuitable offers.
04
04
Vehicle owners facing issues due to low quality loads posted by load owners, who often post loads just to check market prices without genuine intent to book.
Vehicle owners facing issues due to low quality loads posted by load owners, who often post loads just to check market prices without genuine intent to book.
Research & Insights
Research & Insights
We conducted surveys and user interviews with both load owners and vehicle owners to understand the underlying reasons behind low bid acceptance rates. We also analysed marketplace & bidding journey data to identify patterns in bid acceptance behaviour. This combination of research helped us gather valuable insights, especially into how the misaligned pricing and extended negotiations were affecting the bid acceptance & overall user experience.
We conducted surveys and user interviews with both load owners and vehicle owners to understand the underlying reasons behind low bid acceptance rates. We also analysed marketplace & bidding journey data to identify patterns in bid acceptance behaviour. This combination of research helped us gather valuable insights, especially into how the misaligned pricing and extended negotiations were affecting the bid acceptance & overall user experience.
User Interview Findings
User Interview Findings
We conducted in depth semi structured interviews with a selected group of load and vehicle owners to understand their experiences, challenges, and motivations with bid acceptance. These interviews provided valuable insights into bid acceptance, negotiations, and the role of pricing in decision making. And some of them are:
We conducted in depth semi structured interviews with a selected group of load and vehicle owners to understand their experiences, challenges, and motivations with bid acceptance. These interviews provided valuable insights into bid acceptance, negotiations, and the role of pricing in decision making. And some of them are:
Many load owners struggled to set a competitive price for their load, often leading to bid rejections and extended negotiations.
Many load owners struggled to set a competitive price for their load, often leading to bid rejections and extended negotiations.
Vehicle owners frequently said that they spent excessive time negotiating due to unrealistic pricing set by load owners.
Vehicle owners frequently said that they spent excessive time negotiating due to unrealistic pricing set by load owners.
Vehicle owners demanded the need for better pricing transparency to reduce the extended negotiations.
Vehicle owners demanded the need for better pricing transparency to reduce the extended negotiations.
Some vehicle owners felt that load owners were intentionally lowballing their prices, which led to reluctance in engaging with loads that seems to have too far below market rates.
Some vehicle owners felt that load owners were intentionally lowballing their prices, which led to reluctance in engaging with loads that seems to have too far below market rates.
Some load owners said that they felt some vehicle owners were intentionally prolonging negotiations especially in the case of vehicle owners looking for return loads.
Some load owners said that they felt some vehicle owners were intentionally prolonging negotiations especially in the case of vehicle owners looking for return loads.
Some load owners admitted to posting loads just to look at market rates. They engage in negotiations without any real intent to find a vehicle. This practice lowered the overall quality of load postings and created unnecessary noise in the marketplace.
Some load owners admitted to posting loads just to look at market rates. They engage in negotiations without any real intent to find a vehicle. This practice lowered the overall quality of load postings and created unnecessary noise in the marketplace.
Survey Findings
Survey Findings
To better understand the patterns and pain points in the bidding process, we reached out to load owners and vehicle owners through surveys combining multiple choice questions with open ended questions. Our goal was to gather insights into how they see pricing, bidding, and negotiations. With over 50 participants sharing their experiences, we were able to capture a diverse range of perspectives on the challenges they faced.
To better understand the patterns and pain points in the bidding process, we reached out to load owners and vehicle owners through surveys combining multiple choice questions with open ended questions. Our goal was to gather insights into how they see pricing, bidding, and negotiations. With over 50 participants sharing their experiences, we were able to capture a diverse range of perspectives on the challenges they faced.
60% of load owners admitted they are unsure about setting competitive prices.
60% of load owners admitted they are unsure about setting competitive prices.
72% of vehicle owners said price mismatch as the reason for rejecting bids.
72% of vehicle owners said price mismatch as the reason for rejecting bids.
76% of vehicle owners said they spent excessive time negotiating due to bad pricing.
76% of vehicle owners said they spent excessive time negotiating due to bad pricing.
43% of load owners expressed a desire for a feedback tool that would indicate whether the prices they set were competitive.
43% of load owners expressed a desire for a feedback tool that would indicate whether the prices they set were competitive.
Findings from Data Analysis
Findings from Data Analysis
We analysed user behaviour, pricing trends, and bid acceptance patterns to find issues affecting marketplace efficiency. By examining both successful and unsuccessful transactions, we identified how pricing misalignment and extended negotiations were impacting the overall user experience and acceptance.
We analysed user behaviour, pricing trends, and bid acceptance patterns to find issues affecting marketplace efficiency. By examining both successful and unsuccessful transactions, we identified how pricing misalignment and extended negotiations were impacting the overall user experience and acceptance.
Loads with prices significantly above or below market rates had only 3% bid acceptance.
Loads with prices significantly above or below market rates had only 3% bid acceptance.
Loads that involved more than two rounds of negotiation had only a 7% bid acceptance rate, shows that prolonged negotiations reduced the chances of securing a deal.
Loads that involved more than two rounds of negotiation had only a 7% bid acceptance rate, shows that prolonged negotiations reduced the chances of securing a deal.
Loads that were accepted without any negotiation had pricing within 5-8% of the market average. These competitively priced loads had a higher acceptance rate compared to those requiring negotiation.
Loads that were accepted without any negotiation had pricing within 5-8% of the market average. These competitively priced loads had a higher acceptance rate compared to those requiring negotiation.
Solutions - For Load Owners
Solutions - For Load Owners
Introduction of ‘Price meter’ for pricing feedback to help load owners know whether the price they are setting for the load is competitive enough based on the market conditions.
Introduction of ‘Price meter’ for pricing feedback to help load owners know whether the price they are setting for the load is competitive enough based on the market conditions.
Before the redesign, load owners had no indication of whether the price they are setting for their loads is competitive with market rates. This led to frequent bid rejections & extended negotiations leading to frustration for both load and vehicle owners.
Before the redesign, load owners had no indication of whether the price they are setting for their loads is competitive with market rates. This led to frequent bid rejections & extended negotiations leading to frustration for both load and vehicle owners.
Dynamic Feedback on Pricing
Dynamic Feedback on Pricing
As load owners input their price, the meter provides immediate feedback, telling whether the price is too low or within an acceptable range based on market rate.
As load owners input their price, the meter provides immediate feedback, telling whether the price is too low or within an acceptable range based on market rate.
Visual Indicator on Pricing
Visual Indicator on Pricing
Clear visual cues, such as colour coding green for competitive, yellow for moderate & red for uncompetitive price. This help load owners instantly understand where their price stands.
Clear visual cues, such as colour coding green for competitive, yellow for moderate & red for uncompetitive price. This help load owners instantly understand where their price stands.
Comment Feedback
Comment Feedback
In addition to the visual meter, a feedback comment accompanies the indicator, telling if the price is right or needs adjustments based on market rate. This helps load owners make informed decisions, reducing the confusion & guesswork.
In addition to the visual meter, a feedback comment accompanies the indicator, telling if the price is right or needs adjustments based on market rate. This helps load owners make informed decisions, reducing the confusion & guesswork.
Redesigning the load detail page to make it a centralised hub where load owners can manage and track all aspects and updates of their load. This improved visibility helps load owners stay organised & make decisions easily
Redesigning the load detail page to make it a centralised hub where load owners can manage and track all aspects and updates of their load. This improved visibility helps load owners stay organised & make decisions easily
Before the redesign, the load detail page lacked a clear structure, overwhelming users with excessive information in which some of them are not really needed. This cluttered layout made it challenging for load owners to efficiently manage their loads or stay updated on updates like bids.
Before the redesign, the load detail page lacked a clear structure, overwhelming users with excessive information in which some of them are not really needed. This cluttered layout made it challenging for load owners to efficiently manage their loads or stay updated on updates like bids.
Load Detail Page as a Centralised Hub
Load Detail Page as a Centralised Hub
All essential updates like price suggestions, accepted offer are clearly displayed, allowing load owners to easily monitor the progress of their load without navigating multiple sections
All essential updates like price suggestions, accepted offer are clearly displayed, allowing load owners to easily monitor the progress of their load without navigating multiple sections
Prioritised Information
Prioritised Information
Low priority details are removed, focusing only on the most important actions, such as load status and pricing suggestions.
Low priority details are removed, focusing only on the most important actions, such as load status and pricing suggestions.
Improved "My Load" page to give load owners a quick overview of ongoing activities, including price suggestions, responses and accepted offers. This ensures that they stay updated without digging through multiple screens.
Improved "My Load" page to give load owners a quick overview of ongoing activities, including price suggestions, responses and accepted offers. This ensures that they stay updated without digging through multiple screens.
Before the redesign of the My Load section, there was a separate section for all bids received, with bids from multiple loads mixed together. This lack of load level segregation often caused confusion, as load owners struggled to differentiate which bid corresponded to which load. Sorting or viewing bids for a specific load was difficult and and it took a lot of time for them to know updates.
Before the redesign of the My Load section, there was a separate section for all bids received, with bids from multiple loads mixed together. This lack of load level segregation often caused confusion, as load owners struggled to differentiate which bid corresponded to which load. Sorting or viewing bids for a specific load was difficult and and it took a lot of time for them to know updates.
Load Level Segregation of Price Suggestions (Bids)
Load Level Segregation of Price Suggestions (Bids)
Price Suggestions are now neatly categorised by load, allowing load owners to quickly view and manage bids for each individual load without looking through a mixed list.
Price Suggestions are now neatly categorised by load, allowing load owners to quickly view and manage bids for each individual load without looking through a mixed list.
Quick Overview of Updates
Quick Overview of Updates
The new layout provides quick visibility into updates on price suggestions and responses without going into load detail page to look for updates and status.
The new layout provides quick visibility into updates on price suggestions and responses without going into load detail page to look for updates and status.
Enhanced UI for Load Owners to improve visual hierarchy and usability by prioritising important elements like price suggestions. The cleaner design to ensure that essential information stands out, improving clarity and reducing clutter.
Enhanced UI for Load Owners to improve visual hierarchy and usability by prioritising important elements like price suggestions. The cleaner design to ensure that essential information stands out, improving clarity and reducing clutter.
Solutions - For Vehicle Owners
Solutions - For Vehicle Owners
Redesigning the bidding form to shift focus from making counter offers to accepting the right priced loads, encouraging load acceptance on right loads rather than negotiations.
Redesigning the bidding form to shift focus from making counter offers to accepting the right priced loads, encouraging load acceptance on right loads rather than negotiations.
Before the redesign, the bidding form automatically prompted vehicle owners to re-enter the price, even if they didn’t intend to negotiate. If they submitted the same price, it counted as acceptance, but the design subtly influenced users to change the amount, leading to unnecessary negotiations. This process often caused confusion and led vehicle owners to feel obligated to suggest a counter price, even when the load price was fair. This design flaw inadvertently prolonged the negotiation process, reducing efficiency and delaying load acceptance.
Before the redesign, the bidding form automatically prompted vehicle owners to re-enter the price, even if they didn’t intend to negotiate. If they submitted the same price, it counted as acceptance, but the design subtly influenced users to change the amount, leading to unnecessary negotiations. This process often caused confusion and led vehicle owners to feel obligated to suggest a counter price, even when the load price was fair. This design flaw inadvertently prolonged the negotiation process, reducing efficiency and delaying load acceptance.
The form was redesigned to deprioritise price suggestions (negotiations), as the goal was to reduce unnecessary negotiations and prompt vehicle owners to accept the load if the price is by market standards. By shifting the focus from making counter offers to accepting the right priced loads, the process became faster and more streamlined, helping to minimise back and forth bidding.
The form was redesigned to deprioritise price suggestions (negotiations), as the goal was to reduce unnecessary negotiations and prompt vehicle owners to accept the load if the price is by market standards. By shifting the focus from making counter offers to accepting the right priced loads, the process became faster and more streamlined, helping to minimise back and forth bidding.
No Default Price Re-Entry
No Default Price Re-Entry
The redesigned bidding form removed the default option for vehicle owners to re-enter the price, which previously led to unnecessary negotiations. Now, the negotiation form is hidden by default and is only accessible if the vehicle owner expresses dissatisfaction with the offered price. This change streamlines the acceptance process, encouraging vehicle owners to agree to competitive price. This approach is also taken because as the pricing becomes more accurate over time, the business goal is to eliminate the entire negotiation flow, moving towards a model similar to that of Uber.
The redesigned bidding form removed the default option for vehicle owners to re-enter the price, which previously led to unnecessary negotiations. Now, the negotiation form is hidden by default and is only accessible if the vehicle owner expresses dissatisfaction with the offered price. This change streamlines the acceptance process, encouraging vehicle owners to agree to competitive price. This approach is also taken because as the pricing becomes more accurate over time, the business goal is to eliminate the entire negotiation flow, moving towards a model similar to that of Uber.
Very Clear CTA
Very Clear CTA
The Pay Deposit & Book CTA has been strategically added to provide clearer guidance to users. Previously, this CTA was hidden and was only visible after the bid acceptance which made acceptance an unnecessary additional step because the vehicle owner anyway have to pay deposit for actual acceptance. But now, it is prominently displayed as the primary action, making it clear that paying the deposit and booking the load is the acceptance process. This removes any ambiguity about the next steps.
The Pay Deposit & Book CTA has been strategically added to provide clearer guidance to users. Previously, this CTA was hidden and was only visible after the bid acceptance which made acceptance an unnecessary additional step because the vehicle owner anyway have to pay deposit for actual acceptance. But now, it is prominently displayed as the primary action, making it clear that paying the deposit and booking the load is the acceptance process. This removes any ambiguity about the next steps.
Redesigned the "My Lorry" page to make it easier for vehicle owners to easily track updates & price suggestion responses
Redesigned the "My Lorry" page to make it easier for vehicle owners to easily track updates & price suggestion responses
Before the redesign, the "My Lorry" page presented couple of challenges for vehicle owners. The interface was cluttered with information that are of less priority and vehicle owners also had to navigate to separate screens to view any updates on their vehicles. In the redesign, we are addressing these inconveniences.
Before the redesign, the "My Lorry" page presented couple of challenges for vehicle owners. The interface was cluttered with information that are of less priority and vehicle owners also had to navigate to separate screens to view any updates on their vehicles. In the redesign, we are addressing these inconveniences.
Keep Track of Suggestion Updates in My Lorry
Keep Track of Suggestion Updates in My Lorry
Now, vehicle owners can conveniently track their suggestion updates directly from "My Lorry" page without needing to navigate to different sections. This improvement allows for a more streamlined experience as users can monitor the status of their price suggestions and any corresponding updates all in one place.
Now, vehicle owners can conveniently track their suggestion updates directly from "My Lorry" page without needing to navigate to different sections. This improvement allows for a more streamlined experience as users can monitor the status of their price suggestions and any corresponding updates all in one place.
Revamped the Marketplace Listing Card to Introduce Verified Price Tag and some urgency.
Revamped the Marketplace Listing Card to Introduce Verified Price Tag and some urgency.
Before the marketplace card was revamped, vehicle owners lacked a clear indication of whether the prices offered by load owners were aligned with market rates. It lacked informations that could create a sense of urgency, leaving vehicle owners no motivation to secure loads quickly.
Before the marketplace card was revamped, vehicle owners lacked a clear indication of whether the prices offered by load owners were aligned with market rates. It lacked informations that could create a sense of urgency, leaving vehicle owners no motivation to secure loads quickly.
Verified Market Rate Price Tag
Verified Market Rate Price Tag
To give vehicle owners confidence that the price offered by load owners are aligned with the market standards. This tag subtly reassures vehicle owners that the price is fair without overshadowing other loads that might not have the tag. By not making it prominent, we are trying to maintain a balanced marketplace where all loads will still appear equally viable, while those with the "Verified Market Rate Price" tag offers an extra layer of assurance in pricing.
To give vehicle owners confidence that the price offered by load owners are aligned with the market standards. This tag subtly reassures vehicle owners that the price is fair without overshadowing other loads that might not have the tag. By not making it prominent, we are trying to maintain a balanced marketplace where all loads will still appear equally viable, while those with the "Verified Market Rate Price" tag offers an extra layer of assurance in pricing.
Sense of Urgency
Sense of Urgency
To create sense of urgency we focused on displaying accurate, real time data to vehicle owners. This includes showing how many people are currently viewing the load, if any price suggestions have already been made & how much time is left before the load expires. These are real-time indicators that reflect actual marketplace activity, making the urgency feel authentic rather than manufactured. We avoided any artificial urgency cues, highlighting only the information we could confidently verify, ensuring that vehicle owners make informed decisions based on real data.
To create sense of urgency we focused on displaying accurate, real time data to vehicle owners. This includes showing how many people are currently viewing the load, if any price suggestions have already been made & how much time is left before the load expires. These are real-time indicators that reflect actual marketplace activity, making the urgency feel authentic rather than manufactured. We avoided any artificial urgency cues, highlighting only the information we could confidently verify, ensuring that vehicle owners make informed decisions based on real data.
User Flows
Wireframes
Final Designs
Impact
Achieved a 53% increase in bid acceptance rate
Achieved a 53% increase in bid acceptance rate
Reduced number of negotiated bids by 32%
Reduced number of negotiated bids by 32%
Reduced the average time for shippers to secure a truck to 10-15 minutes
Reduced the average time for shippers to secure a truck to 10-15 minutes
Increased quality load postings by 24%
Increased quality load postings by 24%
What I Learnt
What I Learnt
Aimed to address low bid acceptance rates in truck booking marketplace, where load owners post requirements and vehicle owners bid. User research revealed a key issue, which is misaligned pricing by load owners. To solve this, we designed a price meter that gave real-time feedback on price competitiveness. The result was a 53% increase in bid acceptance, 32% fewer negotiated bids, faster truck bookings (within 10-15 minutes), and a 24% improvement in quality load postings.
Aimed to address low bid acceptance rates in truck booking marketplace, where load owners post requirements and vehicle owners bid. User research revealed a key issue, which is misaligned pricing by load owners. To solve this, we designed a price meter that gave real-time feedback on price competitiveness. The result was a 53% increase in bid acceptance, 32% fewer negotiated bids, faster truck bookings (within 10-15 minutes), and a 24% improvement in quality load postings.
User centred solutions drive results
User centred solutions drive results
Understanding the frustrations of both load and vehicle owners with misaligned pricing was crucial in identifying the reasons of low acceptance, I learned how crucial it is to implement features that directly address core pain points. The immediate value of pricing meter resulted in a significant increase in acceptance rates.
Understanding the frustrations of both load and vehicle owners with misaligned pricing was crucial in identifying the reasons of low acceptance, I learned how crucial it is to implement features that directly address core pain points. The immediate value of pricing meter resulted in a significant increase in acceptance rates.
Importance of data driven design
Importance of data driven design
Analysing bid patterns and acceptance patterns provided foundation for designing solutions that improved the bidding flow.
Analysing bid patterns and acceptance patterns provided foundation for designing solutions that improved the bidding flow.