To improve your experience on Fat Lama, we’ve added three shiny new badges to lender profile pages, which help borrowers know whether you’re a regular, experienced user and whether you’re likelyto get back to their requests efficiently.
1. Fast Responder
The Fast Responder badge displays your average response time, rounded to the nearest minute figure: 5, 15, 30 or 1hr. This response time is calculated by averaging two response metrics:
- Speed of response to messages
- Speed of response to rental requests
Reponse time is measured regardless of whether your item is available or not. That means that responding swiftly with a ‘Sorry, it’s not available this time’ will still positively affect your response time and increase the likelihood of future hires. Cutting your response rate to 5 minutes can increase inquiry rates by up to 25%!
⅓ of rentals on Fat Lama are booked on the first day of the rental period and the platform is designed to facilitate ‘on demand’ access. A quick response to indicate availability really helps borrowers move on with their search and waste less time searching elsewhere.
NB: if a request is made on an item of yours which is not available, it’s up to you as the lender to click the ‘Item Not Available’ button from the link in your Dashboard.
2. Reliable Lender
Quite simply, the Reliable Lender badge demonstrates that you’ve made at least one successful rental before.
3. Super Lender
Users with a Super Lender badge are veterans of the game, with at least 5 successful rentals under their belt.
What Difference Do Lender Badges Make?
In short, badges improve your chances of getting requests on your items.
Firstly, profile badges are taken into account in our search algorithm; your items are more likely to be shown to a potential borrower if the system can see that you’ve got a track record of previous rentals and a fast response rate.
Secondly, your badges will be displayed next to your listing in the browse function. This means that prospective renters can see at a glance whether you’re likely to get back to them; in turn, they’re more likely to get in touch with you, or even submit a request.
View your profile here.