New release: Customers gain near real-time access to the subscription metrics that matter most
While winning new subscribers is essential to your subscription business, long-term success and growth are only possible if you can retain those subscribers. Minimizing churn and maximizing renewals are crucial, and doing it well requires fast access to the metrics that measure your progress and deliver insights into trends and missed payments. We’ve just released new advanced subscription analytics capabilities for the Recurly subscription management and billing platform designed to do just that.
Here’s what’s new — and why it matters to you.
Faster, smarter, and more flexible
The new Recurly advanced analytics capabilities incorporate three key features:
Faster data access (near real-time refreshes)
Smarter insights (new filters and drill-down capabilities)
Flexible access (easily download dashboard/reporting data for further analysis)
Here are some of the ways those features will benefit your subscription business.
Uncover what’s working — and what’s not
Give the people what they want, right? New dashboards and reports deliver insight into what products and plans are resonating, so you can promote the right option to the highest-value subscribers faster than ever.
Learn which promotions perform best
Are your coupons and trial offers delivering the results you hoped for? Find out with the ability to test and track customer incentives in real-time so you can hone your offering when you find the sweet spots.
Discover who’s leaving — and why
If only you knew, you could have taken action, right? Now you can more easily identify the subscribers with the highest risk of canceling their subscriptions and learn which products and plans contribute to churn. Use this information to target these subscribers with new offers or incentives proactively.
Get real about MRR and profitability
Looking at last month’s cash flow is helpful, but predicting next month’s is even better. New dashboards and reports will allow you to better manage cash flow and financial projections using real-time monthly recurring revenue (MRR) metrics.
Track bottom line impacts
At the end of the day, what matters most is subscription profitability and lifetime value. We’re making it faster and easier to track this data so you can better understand the true impact of subscriptions on your bottom line.
Data is the lifeblood of any business, but for fast-paced subscription businesses, timely access to decision-making data can be the difference between success and failure. While on the topic of new data analytics functionality, Recurly has been helping customers leverage their data for smart insights all along. In fact, using our machine learning algorithms, the Recurly platform recovered nearly $800 million for customers in 2021.
You can learn more about Recurly advanced analytics by watching this short video or reading the documentation here.