Introducing Submetrics: A Free Analytics Dashboard To Visualize All Your ReCharge Data
We are really excited to announce the launch of Submetrics Data — a new analytics platform that organizes all of your ReCharge data in one intuitive, easy-to-use dashboard. One of the best things about it? It’s completely free — with plans to incorporate premium features down the road.
Submetrics was started by the team behind The Subscription Agency, which is a full-service agency that has worked with subscription companies for more than 10 years. Needless to say, they know a lot about running a subscription business. In their own words:
“There’s eCommerce and then there’s Subscription eCommerce, and those are two entirely different propositions. You could say that subscriptions are more like eCommerce on speed, everything happens much faster and is actually measurable… The data required to run a successful Subscription eCommerce store is inherently different from your plain vanilla eCommerce store. On top of your basic sales data, you must have deep insight into the performance of your subscribers, your new acquisitions, your churn, your lifetime value, your skips, and much more.”
The Subscription Agency has always been big on data and measurability. Years in the industry taught them that bad reporting can affect every element of the business, so that’s what prompted the creation of Submetrics Data. They were already working with ReCharge and loved the platform, but they wanted to provide their subscription clients with a more intuitive analytics dashboard that would make it easier to glean actionable insights.
Phase 1 Is Live
With phase 1 of development complete, the free version of Submetrics is now live and available to all ReCharge customers. This allows you to view key metrics such as these in one dashboard:
Snapshot View
- Total Subscriptions
- Active Subscriptions
- Cancelled Subscriptions
Marketing Data
- New Sales
- Churn
- Average Subscription Value
- Lifetime Value
Sales Data
- Total Sales
- Total Recurring Sales
- Total New Sales
Coming Soon: Phase 2
In phase 2 — which should be released within the next month — Submetrics plans to introduce a paid plan that adds on premium features. This includes the ability to see:
- Skips
- Cancellations
- Cancellation Reasons
- Reactivations
- Cancellation Cohorts
- Purchase Cohorts
- Cost Per Acquisition
- Projected Monthly Sales
This is where more powerful analytics and insights come into play. For a subscription business, being able to see exactly how many people are skipping or cancelling — and why — is incredibly important. That, combined with reactivations, is what enables you to see projected monthly sales and better plan next steps for your business. It also alerts you to retention issues so you can address them as quickly as possible.
Getting Started with Cohort Analysis
“Cohorts” are something not a lot of small businesses know about, but they’re another powerful metric. Cohort analysis allows you to track the behavior of a specific group over time, rather than seeing data for all your customers across the board. For example, if you segment your cohorts by when your subscribers signed up, you can gain valuable insight into how long after sign-up the biggest spikes in cancellations occur. Then you can build retention campaigns to try and prevent those cancellations right before they occur.
Big Plans for Phase 3 and Beyond
Further down the road is phase 3, which will focus on advanced date range lookups, advanced data graphs, and a full integration with Shopify. This will finally combine data from the two systems (ReCharge and Shopify) — allowing you to see all your insights in one place.
Eventually, Submetrics aims to become the business intelligence dashboard for the entire Shopify environment, giving its customers the power to integrate platforms such as Zendesk, ShipStation, and many more with just one click.
Ready to get started? Check out the Submetrics setup guide.
