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Research Outline
Prepared for Adam R. | Delivered July 12, 2019
Invoicing Software
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Goals
Identify/calculate the average cost per acquisition (CPA) for new customers for each of the following invoicing tools in order to use as an industry comparison benchmark:
Wave Financial
FreshBooks
Quickbooks
Harvest
Z
o
h
o
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Early Findings
According to Google Ads Help, average cost-per-acquisition (CPA) is equivalent to the
total cost
of all ad conversions divided by the
total number of conversions
: [cost of all ad conversions added together] / [number of conversions].
Wave Financial charges
2.9% plus a 30¢ fee
for each credit card transaction; they also charge a
1% fee
for all bank payments when possible.
FreshBooks
does not say how much they charge for invoicing, but they do offer a f
ree trial
for their product online.
Q
u
i
c
k
b
o
o
k
s
offers invoicing plans that start at $
10
/month and go up to $
20
/month, $
35
/month, and $
60
/month for additional features and add-ons.
Harvest invoicing products are offered
free for 1 person and 2 projects
. However, for $
12
/month one person can run unlimited invoices. 2+ people can run unlimited invoices for $
12
/person per month.
Z
o
h
o
offers free invoicing for
1 user and 5 customers
. They also offer invoicing for 50 customers and 1 user for $
9
/month, invoicing for 500 customers and 3 users for $
19
/month, and invoicing for unlimited customers and 10 users for $
29
/month. Additionally, an extra user can be added to any plan for
$2/month or $20
/year.
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