The Churn Dashboard was designed to help you navigate churn patterns for your subscription program. There are truly unlimited use cases for these graphs, so let's dive in with some key examples.
Cohort Comparison Graph
The Cohort Comparison graph is the first of its' kind in the subscription platform space. Stay provides over 15 metrics to create comparison views against. For instance, let's say you compare Order Growth Rate to Revenue Growth Rate. You see that Order Growth Rate is increasing at a significantly higher rate than Revenue Growth Rate. This tells you that subscription purchases are probably lowering in value, and it may be time for an Add-On campaign.
Or, you compare Revenue Retention to Subscriber Retention and see that both are steadily decreasing for the September cohort. Let's say your subscription program typically runs on 1 month order cycles - given this data, it is likely time to run a free product Experience on order 2 through our Experience Engine to help retain subscribers in November.
Like I said, the options are nearly endless when it comes to the Cohort Comparison graph, so feel free to checkout these data definitions so you can determine exactly how you want to look at use this tool.
Revenue and Order Retention
This graph succinctly outlines revenue and order retention based on monthly subscription cohorts. Within this graph, you have the ability to toggle between the Subscription or Subscriber retention. Simply do so by navigating to the dropdown and selecting between Revenue and Subscriber or Revenue and Subscription Retention.
Additionally, you can sort within the graph to see exactly which cohorts are performing the best, and actually export data to campaign towards or reward the cohorts accordingly.
Churn By Order Graph
We are extremely excited to be able to offer drilled down analytics, integrated with our machine learning model to help you drill down into exactly where your subscription program is at it's highest churn risk.
We have segmented out amount of upcoming orders your program has for a specific order cycle, how many orders have been successfully placed within the cycle, and the amount of customers that have churned after that order.
Where machine learning comes in is the following - given factors such as inconsistent ordering, customers pushing order dates, skips prior to an order, and more, we identify a Churn Risk per order cycle. We also call out the Churn Risk Difference, which outlines how much variance there is for a subscriber to churn from the previous order cycle. Use this data to power your Experience Engine promotions! If you see that a jump in churn risk from order 3 to 4, it is likely time to launch a free product promotion after that 3rd order.
Ported over from our previous Executive Dashboard, these analytics call out the Retention Engine metrics and point out the success of this tool. Here you will see Subscription Save Rate, Estimated MRR Saved, and Same Day Cancellation metrics. Additionally, you can access your Survey performance metrics to drill down into improvements that may need to be made within your program.
New & Churned
You asked, and we answered! A simple view where New Subscribers and Churned Subscribers can be viewed on a per-day basis was requested from many of our merchants. See how the percentage of New and Churned subscribers is increasing or decreasing per day, or export the data to use how you need.
Please Note: This graph is aggregated based on the status of subscribers at the end of the day. Therefore, if a customer begins their subscription, then churns, they will be listed in the Churned category.
Overall Cohort Performance
This graph was created to pull out specific metrics to give you a high level view across monthly cohorts. So where the Cohort Comparison graph is made to hone in on specific metrics and point out trends, the Overall Cohort Performance graph is to get a birds' eye view across LTV, LTO, Cumulative Revenue, and Cumulative Orders across the months.
Forecasting per Order
We know how important it is for inventory tracking and financial planning to understand when orders are going to fire. You can segment this data within the Churn Dashboard by first, second, and third recurring order! Navigate month over month to upcoming dates, and export as needed.
We are so excited to see all of the amazing updates you can make to your subscription program using the new Stay Churn Dashboard! Please reach out to your CX representative with any questions or concerns.