Over the weekend we’ve been working on a cool addition to our site and it’s something we’re very excited about. We’d like to introduce you to Open Metrics – our real-time business metrics dashboard which publicly displays important metrics such as total revenue, number of sales, average order value and much more. If you’re wondering why we display this information then read on…
Our open metrics provide real-time insights into our business and allows you to see exactly how our business is performing on various fronts. Our metrics show important e-commerce metrics including: revenue, customers, average spend per customer, average order per customer, sales, orders, average order value and more.
Live sales stream
Taking inspiration from Buffer‘s transparency culture and in particular their Baremetrics live dashboard we have added a live sales stream to our metrics dashboard. Our sales stream allow you to see exactly when a sale is made, what the person bought, the order value and whether a discount has been applied.
We’ve also added a couple of charts to the metrics dashboard which show the total sales for each extension and also shows our daily revenue figures for the current month. We plan on adding more charts to the dashboard as more data becomes available.
Why we are publicly displaying our metrics
Ultimate Member has always had a business model behind it from the day the plugin was conceived. We knew from the beginning that we would monetize the business through extension sales. We felt that the market was lacking a plugin such as Ultimate Member so we decided to build it but when it came to evaluating the market it was harder to see how financially succesful other plugins were.
The majority of WordPress businesses do not reveal their figures but thankfully some businesses do and we were especially lucky some of the plugins that revealed their figures also used the free core version + paid extensions model (EDD, Ninja Forms). These plugin’s figures were of massive help when it came to deciding whether or not to proceed with building Ultimate Member as they showed it is possible to run a successful and sustainable WordPress plugin business.
Deciding to display our metrics to the whole World was not a tough decision. We’re big believers in openness and transparency and we feel 100% comfortable sharing them with our paying customers, free users and the WordPress community.
We hope by publicly displaying our metrics it will provide useful insights for other entrepreneurs, developers and business owners and enable them to make more informed decisions when it comes to building a WordPress plugin business.
We’re trying to take openness and transparency within the WordPress community to a new level. We’d love to hear your thoughts on our Open Metrics Dashboard. If you have any questions or want to see some more data added then post a comment below.