Today Freshbooks announced that they will be publishing aggregate benchmark data on a quarterly basis. They’ve been sending out this data and more to customers for some time now, but now they’re going to publish some of the data to the general public.
It’s an online time tracking and invoicing solution.
I’ve played with it a lot, and used it briefly in the past and I love it. Though I do not have a use for it at the present time, I plan to use it in the future when I do, and I recommend it to anyone that does have a use for it.
Aside from being an excellent application on so many levels, Freshbooks the company is in my opinion a great example of an ISV who has leveraged the SaaS delivery method very well from a business model perspective.
I’ll use some screenshots to explain.
Initial Home Page:
Freshbooks uses the initial homepage upon login to:
1) Post simple announcements
2) Advertise special offers for their own, useful services. (Snail Mail Invoice)
As mentioned in a previous post, this is something that all SaaS ISV’s should do. It should be done in a way that is targeted as well, based on the individual user. I wonder if I actually used snail mail invoices, if that ad would go away for good?
Now don’t get me wrong, there is a fine line between providing relevant unobtrusive announcements and advertising and polluting the application with ads. It has to be done right, and I believe Freshbooks gives us one example of how to do it right.
Freshbooks gives their users a very easy way to refer their product to others, from within the application. Yet they don’t stop there. They also provide incentive AND a way to easily track the referrals you send.
Freshbooks gives their users a way to instantly upgrade their account from inside the application. They also provide access to their FAQ’s and prominently display their phone number on this page as well, to ensure that if someone is even considering upgrading, they have multiple ways to have their questions or concerns addressed right then and there.
Freshbooks gives their users a way to instantly purchase credits for a commonly used add-on service of theirs (Snai-Mail Invoicing), from within the application. They also prominently advertise their offer to allow users to test the service out on themselves for FREE on this same page.
Report Cards in Account Info:
From the account info section, Freshbooks provides a quarterly report card for their users.
As you can see, this report card provides aggregate benchmarks for some key metrics associated with the application’s purpose and function. It shows the user what their results were as well as what the average results were for the other users in the same profession.
They also provide the user with a score that can then be displayed on their website if they desire, and they ask for feedback as to how they can improve the report card system right on the same page.
Taking it one step further, they actually get feedback from their top performers about their business practices, and share them here on their company blog.
This is one place where Freshbooks REALLY excels, and does one of the things that many of us had talked about last week in the discussion originating over at SaaSBlogs.
They create a way for their users to gain value from each other.
In case you missed it, you can view my detailed post about this here
Last but not least, they ask for feedback at the appropriate time. When someone is logging out, in most cases they have just finished working with the application. This is a prime time to get honest feedback and gain valuable insight regarding how to continue to improve the product, as well as what things users like most about the product.
Metricz was started as a way for me (Jesse Kliza) to communicate my thoughts and feelings about business process, strategy, marketing, entrepreneurship, and anything else that may be on my mind related to my professional life. I currently head up marketing at Apprenda – the leader in enterprise platform as a service (PaaS).
Email: jkliza at metricz dot com Phone: 518.229.1723