At Peerwith, we are trying to make the researcher services market more collaborative, affordable and transparent. Therefore we share information and KPI’s from our marketplace. Like some intesting KPI’s and more interesting KPI’s that we posted on our blog earlier. Here are some interesting 2017 results.
Impressive author satisfaction – trend is up
Of all the clients in 2017 that completed a request, 56% rated the expert with an average of 4,92 out of max 5 stars. Which is incredible. The last-3-month average is actually 4,96, so even with those high ratings, we see an upward trend. The same counts for the NPS score. We started of with 40, going up to 58 and measured over 2017 it is 78. The last-3-month NPS score is 82. So clients rate both the expert services and platform as very high, with an upward trend still. And we are very proud.
Expert pool developing
We are now at 1350 experts. These experts offer their services on the smartest platform for researcher services in a transparent peer-2-peer marketplace model. The majority of those experts is active in editing services (60%), but manuscript reviewing and other publication support categories are well serviced. Around 55% of these experts indicate they have a PhD. The actual percentage might be higher, because 30% didn’t fill in the field which is a non-required field in the profile. So truly, the majority of our experts is PhD.
Measured over 2017, about one-third (35%) of the request on Peerwith is a “direct request”, which is a request with one specific expert. That is either a recurring request from a client that worked with that expert before. Or a request originating on the Peerwith Expert page. The number of recurring requests is pretty high. Once a client works with Peerwith, over 40% of them come back for a second, third, etc, request. On average they post 1,8 requests per year. Peerwith is about collaboration between clients and experts and these KPI’s proof that.
About 50% of the requests on the Peerwith platform come in via Branded marketplaces from partners, powered by Peerwith. Approximately 25% comes in via Landing pages from partners. And the remaining 25% comes in through peerwith.com directly. We are very happy to work with our partners like Emerald, Brill, Hindawi, FEMS, and others. And we welcome new partners in 2018.
The most active categories on Peerwith are still the editing services. Language-, Copy- and Scientific editing. That is 70%. The rest is only 30%. The trend is a growth in categories like Manuscript writing support, Manuscript reviewing and Data and Statistics related services. And interesting development is the growth of Manuscript reviewing. Authors seem willing to pay for a review pre-submission in order to accelerate the process post-submission. Clearly the review that we see on Peerwith is different. It includes Journal guidance and often leads to a follow-up request for additional services like editing.
We’ve learned that potential clients from our unique peer-to-peer model are worried about the speed of the process. We very much understand the urgency of deadlines and that’s why we can’t stress this important fact enough: most service requests in editing receive a quote within 30 minutes and 4 – 5 quotes within a few hours. Over 50% of the connections are made within 48 hours after posting it and the total turn around time is usually within 7 days. To add to this, we see negotiations on that term between the author and expert(s) who make good use of different timezones, which results in turn around times under 24 hours to deliver a full revision of a manuscript.
What is the price? What is the average price per word? We hear that often. The average price for a transaction on the platform has gone up from around $230 early 2017 to almost $250 measured over 2017. In general, experts with little or no ratings, charge less. Experts that establish a profile on the marketplace, charge more. So over time, transaction values move up if you work with active experts primarily.
If you want to know averages per category, watch the price indication per category on the website. We update is regularly. Or look at the Standard services that are setup with fixed prices. Language editing for example is offered at a rate of $0,04 – $0,06 per word, depending on the level of English. Peerwith guarantees for these prices that experts offer their services at these rates. If you negotiate, lower prices are possible, depending again on your input, the type of expert you need and the number of words of course.
It is also interesting to tell you that 80% of the clients that receive two or more quotes, do not pick the lowest available quote. Clients pick the right expert for the right job and the price is not always the decisive factor.
We are the Smartest platform for researcher services. If you want to know more, contact me personally at email@example.com.
Co-founder & Director Peerwith