This article explains how campaign renewals and campaign conversion rate metrics work in ChurnIQ.
How are campaign renewals tracked?
Firstly, campaign renewals are only tracked for offers that can be renewed - which means recurring subscriptions.
For campaign renewals the focus is on whether or not the customer renewed their subscription after the coupon expired. For example:
Max receives a coupon which gives him 50% off for the first month of his monthly
At the end of the month, his coupon will expire and will no longer apply to his \
(1) renews his subscription paying the full offer price
(2) does not renew the subscription, and the subscription expires
A 'campaign renewal' is when Max takes option 1. A renewal is counted in the same way, regardless of the coupon details. Whether it's 3 free months, or 50% off for 3 months, the question is whether or not the customer renews at the full price once the coupon is no longer in effect.
So what is the campaign conversion rate?
The campaign conversion rate is the percentage of subscriptions that are renewed for any campaign after the coupon period has expired, as a proportion of all subscriptions discounted through that campaign.
Calculation: (Subscriptions that renewed after discount ended/Total coupons used)*100
For the campaign 'Summer2020', 1,000 coupons were redeemed.
Of the 1,000 individual subscriptions, 300 have been renewed after the coupon period
ended, and 700 have not.
The campaign conversion rate is:
(300/1000)x100 = 30%
The campaign conversion rate makes comparison between campaigns much easier. Tracking coupon usage alone tells you how popular the campaign is, but it doesn’t tell you how effective the campaign has been at generating fully paid up customers.
Knowing the percentage of subscribers that actually renew at full price really helps you to calculate the return on the value you have discounted. To make this dimension of campaign performance even clearer, you can use the campaign revenue feature.
Important! - Recently launched campaigns will always have low conversion rates because customers are still in the discounted period. This does not mean the campaign is performing badly in terms of conversion, just that few conversions have been observed so far.
Campaign Renewals Visualized
Campaign renewals are visualized as a stacked bar. The first part of the bar is a count of subscriptions that were renewed after the coupon period ended.
The second part of the bar is a count of those subscriptions that have not been renewed outside of the discounted period. Depending on when your campaign started, this might be because the renewal date has not been reached yet.
At a glance, this chart will give you a sense of what proportion of subscriptions have been renewed after the discount ended for each campaign.
You can use the exact numbers to calculate the conversion rate itself. Or alternatively you can use the campaign name filter to select the campaign you are interested in. The campaign conversion rate scorecard will show you the number automatically.