![]() ![]() One thing that is clear from reading Xero’s financial reports is that they are big on recording and improving metrics. Though this undoubtedly is a factor in their success, this article will focus more on the marketing they do directly to small businesses. Their investor briefing back in September 2016 highlighted the strength of this approach, pointing out that more than 90% of their paid subscriptions in Australia & New Zealand (their most developed markets) came from accounting partners. As well as doing what it can to help their partners generate more clients, Xero offers exclusive events and even awards to provide as much value to their partners as possible. It’s an approach that they execute very well by providing an extensive partner program. As a result, promoting their product directly to the end user wasn’t the most effective way to grow fast.Įarly on in their timeline, Xero understood that if it could reach accountants and bookkeepers, and have them buy into the value of their product, then Xero could accelerate its growth and bring in the revenue to help them grow elsewhere. ![]() Though their end users (customers) are small business owners, many of these people have their business finances managed by an accountant or bookkeeper. ![]() I’ll then introduce each member of our in-house growth team and allow them to break down what Xero are doing across their respective specialisms. I’ll start by giving an overview of how Xero has gotten to this stage, what their product is like, and how their website drives their growth. 30% growth for a business that already has a million subscribers is a fantastic result, so we wanted to figure out how they do it. Back in 2006, he felt that traditional desktop accounting software had become outdated and set out to create a cloud-based product.įast forward to 2018 and Xero has more than 1.3 million subscribers and a market cap of approximately $6 billion.ĭespite scaling up to such a large user base globally, Xero shows no sign of slowing down with 351,000 subscribers added in the past 12 months. Like many great businesses, Xero was founded when founder Rod Drury was having issues with his existing solution. Partly because its platform has helped so many new businesses launch and succeed, but also because they’ve been there and done it themselves. Xero is one of the darlings of the startup world. ![]() | Tam Al-Saad - Get more articles like this sent to your email here ![]()
1 Comment
3/13/2023 10:46:22 pm
If you (or one of your employees) make personal use of something that belongs to the business, you also need to report it as a benefit and then pay any tax due. It’s quick and easy.
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