Here at Baremetrics, we pride ourselves on our detailed revenue analytics and actionable insights for subscription businesses. Designed specifically with SaaS brands and startups in mind, we understand that accurate, clear metrics are essential to making actionable decisions.
Getting clear data means sourcing information from each individual financial source. For that reason, Baremetrics offers easy-to-setup integrations with Stripe and multiple subscription sales platforms. In this post, we’ll explain why these integrations matter and how to get started.
Since subscription-based businesses, app developers, and startups often use multiple billing, payment processing, and subscription management tools, we knew that we needed to consider those needs when creating native integrations for Baremetrics.
In addition to Stripe, Baremetrics offers eight additional integrations for streamlined data synching and thorough financial analytics:
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Xero |
Quickbooks |
Many SaaS brands, app developers, and subscription companies commonly use multiple selling and payment processing platforms.
It’s common for a single app developer, for example, to use Stripe payment processing on their own website. They don’t have to pay a commission to app stores when users purchase through their own site.
Onsite sales are also often longer-retaining and have higher average order values compared to those that purchase on an app store.
That said, allowing customers to purchase subscriptions directly through app stores (including Google Play and the Apple App Store) can be essential. These platforms may help new customers discover your business, giving you increased reach, and the convenience of offering a customer’s preferred method of purchasing can be the difference between getting or losing a sale.
Plenty of customers also use subscription-based revenue platforms that offer automated billing or payment management. Examples include Quickbooks, Recurly, and Chargebee.
While it’s incredibly common for brands to use different payment processing or invoicing platforms, it also creates a significant issue: Your revenue data ends up spread out across multiple tools. This makes accurate revenue assessment and financial forecasting tricky— until you get them all in one platform, like Baremetrics.
Let’s look at a few key benefits subscription businesses get when using Baremetrics integrations to assess revenue analytics from multiple data sources.
When you’re assessing financial data for your business, the last thing you want to do is go back and forth between different platforms in an attempt to compile data from each. This is time consuming and can even leave you vulnerable to human error when manually inputting data into a third-party tool.
Baremetrics’ integrations allow you to see all revenue and financial data in a single dashboard, giving you a unified and holistic view of exactly what’s happening across all platforms.
Let’s talk about one of our pet peeves: Many subscription management tools count all existing subscriptions towards monthly recurring revenue (MRR). They may do this even if the account is delinquent on payment, or if the account is temporarily paused. And while it’s easy to understand how this happens, the reality is that it creates extremely skewed financial data.
Baremetrics prioritizes accuracy because businesses deserve nothing less when they’re using the data to make revenue-focused decisions.
We’ve looked at how other platforms may inadvertently deliver inaccurate or misleading revenue metrics so we can avoid those common pitfalls. Reported revenue and actual revenue should be the same thing.
And, with all of your revenue data coming into a single platform, you can rest easy knowing that the data is calculated and presented consistently.
It’s good to get a holistic view of all revenue data, but we also know that it’s important for businesses to be able to get that granular view for individual platforms.
As a result, we allow you to view key metrics on a platform-by-platform basis. See how Stripe users act, spend, or retain differently compared to those making purchases through mobile app stores, for example.
In most cases, different platforms do yield different performance both short-term and long-term. Tracking this data is important for ongoing optimization. Some businesses, for example, may choose to funnel their marketing budget to campaigns that drive users to the most profitable platforms.
Baremetrics offers 26 financial metrics that are immediately relevant to subscription-based businesses. These metrics offer clear, direct data.
We also go beyond static metrics, however, offering actionable insights that you can use to make revenue-boosting decisions:
When you’re setting up Baremetrics, the first thing that happens after creating an account is connecting your first data source. (Don’t worry— you can add additional sources immediately after the first, and if you use more platforms later on, you can add those at any time, too!)
We designed the integration process to be fast and easy.
You’ll see a pop-up asking you to choose your first data source. Click on it, and in a few clicks, you’ll be able to connect with the platform of your choice. Data synching will start right away.
We strongly recommend integrating every payment processing platform that you use, even if it’s a minimal contributor to your overall revenue. The more data you have, the better.
Baremetrics integrates with popular billing, app store, payment processing, and subscription management platforms. We truly believe that businesses and marketers should have the most thorough and accurate data possible when making revenue-impacting decisions— and that’s only possible when you get the full picture from all data sources.