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Offer Analytics
Offer analytics can be used to understand the performance of your subscription offers. The performance of a particular offer is affected by many variables.
Just some examples are the offer content, pricing, presentation, and messaging. At the business level, it is not easy to see how changes in any of those elements are affecting subscriber behavior. At the individual offer level, it is much more clear.
The ‘offer’ step of the Retention Journey focuses on three performance dimensions that are especially important. These are:
- Subscriber growth for each offer
- Revenue performance for each offer
- Subscriber growth by channel
Key Insights from the Offer Step
Offer Subscribers
These are some of the most important insights you can access about your offer performance from a subscriber perspective:
- How many subscriptions are there to each offer?
- How many annual/monthly subscribers do we have?
- How many new subscribers are there for each offer in a given period?
- How many subscribers have churned from each offer?
- How is my most popular offer trending? Is it getting stronger or starting to decline?
- What was the value of the churn rate for your top 5 offers in the past 36 months?
Offer Revenue
Your Offer revenue dashboard answers the following questions:
- How much revenue has been contributed by each offer?
- How much revenue has been contributed by monthly/annual offers in any time-frame?
Channels
Your Offer channel dashboard answers questions relating to channel performance at the level of both subscriber growth and lifetime value:
- How many subscribers do I have for each channel?
- How many new/churned subscribers are there for each channel in any timeframe?
- What is the customer lifetime value for each channel?
- How are channels growing/declining in their effectiveness for subscriber acquisition?
- What was the value of the churn rate for your top 5 channels in the past 36 months?
Using Offer Analytics
Cleeng’s offer analytics covers a wide range of important retention metrics. These include subscriber growth, lifetime value, and churn. Your Offer analytics should be used as a tool for testing, evaluating, and refining your subscription packages.
Using Cleeng’s offer setup, you can test variations in content bundles, pricing, or messaging (for example) and track the effect on offer sign-up rates and CLTV over time. You may also want to experiment with subscription package durations, eg. 1 vs 3 months.
By tracking offer growth, in both subscriptions and revenue, you can test the fit of these different models with the market before making longer-term commitments. It is strongly recommended that you conduct at least a small number of such experiments every year.
Offer Metrics
You can find definitions, calculation logic, and analytical uses for each Offer metric on their respective pages.