Sublytics VP of Business Development, Walter Long, Talks about the Value of In-depth Analytics on Leading Subscription Podcast
Walter Long, joins Eric Musick of the Subscription Box Show to discuss subscription analytics – and what your numbers mean for your business. Walter specifically covers what it means to dive into customer retention metrics and how to cut to the heart of your retention data in just 2 steps. The two subscription industry vets and long-time SUBTA members dive into the core issues merchants face today with disparate data across their eCommerce stores, billing providers, ad tech platforms, and postal carriers making it difficult to analyze what efforts are driving high LTV subscribers and pinpoint where to scale efficient operations.
Walter provides a great analogy: imagine you are parents of a 10th grader and at the end of the semester your child just gets one letter grade for all of their classes. You wouldn’t know what parenting decisions to make.You could make sweeping suggestions of less video games and more studying to raise the overall average from a B to an A, but there is a much more efficient approach. You would want to know in which subjects your student is doing well and in which they are suffering, so you can determine whether to hire a math or an English tutor. That is how a lot of merchants come to Sublytics – with an overall snapshot of their customer lifetime value (LTV) but they don’t understand the breakdown of their LTV by source, campaign or ad level.
The same granular approach goes for customer retention and churn metrics. As Walter points out, and that Chapter 1 of the Essential Subscription Data Guide covers more in-depth, breaking out retention by discount rate, acquisition source, and even product will provide invaluable insights to effectively optimize your product and acquisition efforts.
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