WaveMaker CEO Chris Keene has an excellent, and surprisingly open, post on WaveMaker’s business results.
While Chris mentions that WaveMaker has secured 700 customers out of 300,000 website visitors, I’m more interested in the download to customer conversion rate. Well, 700 paying customers out of 90,000 downloads = a 0.8% conversion rate. That’s an incredibly high conversion rate. Chris explains:
“These conversion numbers are pretty lumpy – a small number of channel partners can have a big impact on customer numbers, particularly at the beginning. Most of our leverage at WaveMaker has come from small systems integrators and ISVs, both of which act as channels to amplify the activity that is already being generated by our open source channel.”
Interested in increasing downloads of your open source product? Chris explains WaveMaker’s experience:
“The percent of web visitors who download has inched up from roughly 20% of visitors to 28% of visitors as we have gone through various iterations of our home page. As the messages have gotten simpler and the graphics more compelling, the download rates have climbed.”
Very cool Chris & team. Keep up the great work and thanks for sharing your experiences for others open source startup to learn from.