We have a big update that we're so excited to share with you: our new Subscriptions platform is here! Subscription analytics are notoriously difficult to calculate. Not only do you need to understand your revenue, profit, orders and conversion - you need to layer subscription-specific metrics on top of that, like monthly recurring revenue, churn, and retention, along with individual subscriber and plan data points. It's not easy to get all that information in one place - much less in a way that makes sense. The good news? That's exactly what we specialize in at Glew.
Subscription analytics, redefined
We launched our previous subscription analytics offering a little over a year ago. But after working with a few of our longtime merchants, we realized that there was a lot more we could be offering subscription businesses to help them grow. More importantly? We realized that no one had really figured subscription analytics out yet - and there were a lot of frustrated subscription merchants out there. So we decided to completely overhaul our existing subscriptions platform. Over the course of the last few months, we added:
- Dozens of brand-new and updated metrics, including many that are unavailable natively in most subscription platforms
- Full KPIs, Insights, and Tables reports for subscriptions, subscribers and plans
- Powerful new functionality, including filtering and custom segmentation across subscriptions, subscribers and plans
- Additional data visualization options, including the ability to view data in line, bar or horizontal bar charts
Read on for more about our new Subscriptions platform. If you're a current Glew user, you can see these updates in the Subscriptions tab in Glew (you'll just need to have ReCharge connected). Not a Glew user? Start a free trial and connect Shopify and ReCharge to check it out!
Our retention cohort, showing how many subscribers you're retaining month-over-month
We added several brand-new metrics and some powerful new functionality, designed to help merchants access more and better subscription insights.
- We added critical revenue metrics like new MRR, churned MRR and net MRR. We also blended Shopify and ReCharge data to provide subscription COGS, profit, and margin, so you can understand your true subscription profitability.
- We added metrics to help you distinguish between new and repeat subscribers, as well as report on subscriber discounts and refunds.
- See MRR, churn rate and LTV on the subscription plan level, as well as COGS and profitability on a plan level from blended Shopify data.
- We added several prebuilt segments for subscriptions, subscribers and plans, including active, churned, weekly and monthly. You can also create or modify any segment by filtering the tables on each page.
Subscription KPIs, including revenue, profit, MRR, average MRR per subscription and churn rate
We updated our calculations for several metrics to be more consistent with ReCharge. You may notice a slight change in your data for the following:
- MRR: MRR is now calculated taking into account various subscription frequencies, as well as prepaid subscriptions (this change took affect a few weeks ago, and we notified you in the app).
- Revenue: We previously calculated revenue based on subscriptions started in a selected date range. Now, we're calculating it based on all active subscriptions and charges in a selected date range. This provides a more accurate representation of all revenue earned during a date range - not just from new subscriptions. This will also impact revenue-based metrics like LTV and average revenue per subscription.
- Subscriptions: Similar to revenue, subscriptions will now be counted based on all subscriptions that are active in the date range selected, not only those that were started in the date range selected. (PS: Want to get to your previous subscription or revenue calculations? Just set a filter based on subscription start date).
Subscriber KPIs, including average revenue per subscriber, first-time subscribers, subscriber churn and LTV
Here's what we're most excited about. There are several metrics and features in this update that are totally unique to Glew - you'll have a hard time finding them anywhere else, giving your business a major leg up when it comes to subscription and growth.
- Costs, profit and margin: Because we pull product cost directly from Shopify, we can blend that with your ReCharge subscription data to get to your COGS, profit and margins. This allows you to get to the holy grail of ecommerce analytics: your true profitability.
- Lifetime value: We're all about LTV at Glew, and it's no different for subscriptions. Understand how much your subscriptions, subscribers and even your individual plans are adding to your bottom line - in the short-term and the long-term.
- Segmentation: Get prebuilt subscription segments, create custom subscription segments on the fly, and automate reports based on those segments.
Example insight: Subscription MRR, including previous period comparisons[/caption] Want to see our updated Subscriptions platform? Start a free trial today. You can also check out our FAQs for more information on our new subscriptions update, see our recent subscription analytics webinar, and stay tuned for more subscription resources coming soon!