Consulting and product development company, Expected Behavior has announced the release of Pirate Metrics, an application that helps marketers track and utilize information from SaaS-based software.
How's Your SaaS Service Doing?
You have tons of analytics to track your digital marketing efforts, especially when it comes to your website and social media activity. But what about your subscription-based software? How are you monitoring and improving on customer acquisition and retention with that?
A word of warning, according to a statement from Expected Behavior, SaaS-based services aren't where they should be. By creating Pirate Metrics, the company provides its customers with tools that track events relating to SaaS services, such as a user signups, referrals and customer payments — in turn, boosting business reputation and revenue.
This is a straightforward API that you connect to your application, and it will start tracking metrics on subscriptions and usage of your service. Marketing reports are a part of this offering — giving you a bird's eye view of what's working and what's not.
The Pirate Metrics Philosophy
With this in mind, there are five key metrics that Expected Behavior tracks. They are:
- Acquisition: With this metric, businesses have to find a way to draw in the user, for example a sign up option to test a product.
- Activation: While a test offer may seem enticing to some, not everyone who sees the offer will use it. Activation data shows a company exactly how many users went beyond the landing page and filled out the sign-up form.
- Retention: This data shows how many users actually liked the product enough to continue using it on a regular basis.
- Referral: While some users will just use the product once or twice, others will tell their friends and family, which can lead to more acquisition, activation and retention.
- Revenue: Data shows how many users are willing to go beyond the test or trial version and pay for continued use of the product or service.
An example of acquisitions data
How the Application Works
With Pirate Metrics, information is sorted into a specific data group and then compared to the group's average — giving companies a clear picture of where they are garnering the most revenue, and which areas need improvement. To help users boost sales, Pirate Metrics also offers personalized suggestions on how to increase consumer base and company revenue.
Pirate Metrics is available for a 30 day free trial or starts at US$ 29 per month for a full subscription.