Upwork: Product Developments: Difference between revisions

Upwork: Product Developments (view source)

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 === 2021 ===
-* Upwork introduced '''Project Catalog''', which is simply ready-made projects built by talent A client can compare project catalogs side by side and even customize them using ad-ons such as additional rounds of revision. The catalogs also carry ratings and reviews from clients<ref name=":1">https://www.upwork.com/blog/top-2021-upwork-features-and-updates-for-clients</ref>.
+* Upwork introduced '''Project Catalog''', which is simply ready-made projects built by talent A client can compare project catalogs side by side and even customize them using ad-ons such as additional rounds of revision. The catalogs also carry ratings and reviews from clients<ref name=":1">https://www.upwork.com/blog/top-2021-upwork-features-and-updates-for-clients</ref>. In Q1 2022, Upwork said in the shareholder letter that Project Catalog was converting visitors to light wait customers and improving their retention. ". For example, '''47% of clients who bought a Project Catalog project in 2021 made a repeat purchase later in the year. Of those repeat purchases, 72% were made on the Talent Marketplace and 50% were another Project Catalog project''', suggesting up to 22% made repeat purchases on both. More than half of clients who hire again are working with the same talent."<ref>https://investors.upwork.com/static-files/28d7a49a-75bd-4eb9-b57f-96b0ec3ed378</ref>
 * Upwork introduced innovations to build and manage hybrid team such as faster freelancer verification process, more payment options, more features on Bring Your Own Talent, seamless ayroll, etc<ref name=":1" />.
 * Upwork added features to improve collaboration between talent and clients such as Virtual Talent Bench, record with Loom, share larger files feauture, etc<ref name=":1" />.