Pirate Metrics, also referred to as the AARRR model, is a framework developed for businesses to track and analyze critical metrics that drive growth and success. The name "Pirate Metrics" comes from the lighthearted representation of the acronym AARRR, mimicking a pirate's call. These metrics include: Acquisition (how customers find a business), Activation (the initial experience of a customer with the business), Retention (keeping customers coming back), Revenue (monetary gain from customers), and Referral (when customers bring others to the business).
The model is universally applicable to various types of businesses, particularly in the software and online services industries. For Easy Month End, tracking these metrics can help optimize the software's adoption, improve user experience for first-time users, ensure users continue using the software, increase revenue streams, and enable users to recommend the software to colleagues.
For example, for Acquisition, Easy Month End might track website visits and sign-ups. For Activation, analyzing how many users complete their first month-end close using the product could be a metric. Retention can be measured through the percentage of users who renew their subscriptions, and Revenue and Referral can consider the earning per user and how many users invite colleagues to the platform.