ARPU is my private metric, Average Revenue Per User (per Active...

ARPU is my private metric, Average Revenue Per User (per Active Trader, Annualised). SWF would have a similar metric, but probably calculate it differently.

Mine is -
=D2/D6*4
=(Quarterly Revenue)/(Active Clients)*4(to annualise it)

That is using the total quarter revenue, but the active clients count on the last day of the quarter. The client count at the middle of the quarter would be more accurate, to get a better average. I'll actually change the formula now.

New formula =
=D2/(D6-(D6-F6)/2)*4
=(Quarterly Revenue)/(Half way between this quarter's end-of-quarter active clients and last quarter's)*4

This quarter's ARPU changes from $262 to $296. $296 is likely more accurate.

Sounds good. '$67 cost per new client' vs $296 ARPU (annualised from quarterly numbers).


You've screenshot the right thing. 464 people entered their referral ID. Upon clicking that link, it chooses a random referral ID to use. If I managed to get 4 random referrals from that in 2 months, if there were just 400 referral IDs in the system at the mid-point of the 2 months, then each of those 400 would have got about 4 referrals in the 2 months (same as me, since it's randomised). ~1600 total through OzBargain in a little over 2 months. Extrapolate that to the full quarter and it could be 2100.

Active clients increased by 4200 in the quarter. 2100 through OzBargain? The definition of an active trader and a successful referral could vary, I'm not sure. Maybe not all 2100 are counted as active traders if they just made free trades so far.

So OzBargain looks to be playing a big part in 'sign-ups', but I'm not sure how many are classified as 'active traders'. Even if the cost of providing free brokerage to OzBargain members is higher than average, it's good for quick growth and word of mouth.

If SWF runs another promotion, we could put it up there. They're strict about their rules, so it'll have to be an actual bargain/promotion, but it should get good feedback. The EOFY promotion might have worked, though they might not be as 'in to' subscription fees for premium, even with bonus trades covering most of the cost.