Couldn't help but notice one thing on your home page: the price is given in $/sqft/year. Did you A/B test with other representations? It doesn't feel intuitive at all to me. I would expect people to have an idea of the total budget they have (/month or /year).
Actually $/sqft/year is a pretty standard measurement in the commercial real estate business. I used to work in another CRE based startup, and while normal users (non-CRE) liked to have monthly numbers, brokers and such preferred the traditional measurements.
The reason why most brokers, landlords, and veteran office searchers prefer $/sqft rather than $total is that $/sqft allows for easier comparison of price efficiency between spaces of different sizes. Using $/sqft is also preferable when the total size is fungible e.g., when a space can be subdivided or combined.
Several of our A/B tests have used total size but it doesn't have a big enough effect on conversion to be measurable.
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Great article, thanks for sharing.
Couldn't help but notice one thing on your home page: the price is given in $/sqft/year. Did you A/B test with other representations? It doesn't feel intuitive at all to me. I would expect people to have an idea of the total budget they have (/month or /year).
Also I'm sure it's in your backlog already, but a lot of your listing prices are way off (http://42floors.com/?page=1&order%5Blistings_rate_per_sqft_p...)
Actually $/sqft/year is a pretty standard measurement in the commercial real estate business. I used to work in another CRE based startup, and while normal users (non-CRE) liked to have monthly numbers, brokers and such preferred the traditional measurements.
The reason why most brokers, landlords, and veteran office searchers prefer $/sqft rather than $total is that $/sqft allows for easier comparison of price efficiency between spaces of different sizes. Using $/sqft is also preferable when the total size is fungible e.g., when a space can be subdivided or combined.
Several of our A/B tests have used total size but it doesn't have a big enough effect on conversion to be measurable.
$/sqft is used by most experienced people on the residential side as well.