Wave Accounting is an online company providing free accounting software built specifically for companies with 9 or fewer employees. There’s no up-sell. There’s no freemium/premium. It’s free and stays free. CEO Kirk Simpson tells us about the metrics that are important to them.
What are the metrics that you track? What metrics are useless to you? What metrics are misleading?
Kirk is CEO of Wave Accounting. They offer a free online accounting application built for small business owners.
“We track a couple of key metrics. The first is, what’s the top of the funnel look like? How many new customers are we signing up every day? We look at the conversion percentage of our home page and other pages on our site to say “OK, we’re getting them there, are we converting them at percentages that we’re happy with?”
Then it comes down to, of course, are we converting them into active users? So are we making it easy for them to get set up? Do they understand what to do next in the application in order to get them really comfortable with the application?
All of those sorts of things sort of influence how we look at that position. Are we ahead of the curve, as it relates to some of those conversion percentages? Are we languishing?
And what we’ve found is that when we look at those percentages, whether or not it’s top line signups down to converting into registered down to converting into active, we’re really thrilled with the results thus far.”