Shopify Ecosystem

Peel X Bold Subscriptions: Deeper Analysis For Subscription-Based Businesses

peel-x-bold-subscriptions:-deeper-analysis-for-subscription-based-businesses

peel-bannerAnnouncing Bold’s latest integration with Peel, automating 37 subscription metrics for more detailed analysis.

Understanding customer behavior is the key to growth for ecommerce brands. This is exactly what merchants are after when they install Peel; they want to know the “who, what, when, where, why, and how” of their customers.

Peel is the automated analytics platform that helps DTC brands tap into the stories that live within their data. They do this by automating post-purchase data across critical metrics like Customer Lifetime Value (LTV), Average Order Value (AOV), Repurchase Rate, and a myriad of other essential revenue and retention metrics. 

This brings e-commerce teams closer to understanding their customer behavior while taking the heavy lifting and time sink of manual analysis off their plates. Peel’s data analytics platform is flexible and customizable to accelerate growth for e-commerce brands. 

Now they’re offering more robust analysis for subscription businesses. Peel has built a direct integration with Bold Subscriptions that provides analysis for 37 subscription metrics without users having to manage any type of data cleaning, tagging, downloading datasets or formulas themselves; it is 100% automated. 

The metrics populate onto the user’s Peel account providing them an abundance of detail and unlocking stories about their subscribers and their subscriptions – from what subscriptions they purchased, what their retention rate is, how many subscriptions they have on which products, their order frequency, whether they purchased one offs before subscribing, the number of days it took them to become a subscriber, plus so much more. 

Full Breakdown of Peel x Bold Subscriptions Metrics

When merchants connect their Peel account to Bold Subscriptions, here are the 37 metrics they get instant access to: 

Subscriptions

  1. Active Subscribers
  2. Active Subscriptions
  3. Churned Subscribers
  4. Churned Subscriptions
  5. Duration of Active Subscriptions
  6. Duration of Active Subscribers
  7. Duration of Churned Subscriptions
  8. Duration of Churned Subscribers
  9. MRR
  10. Subscribers Churn Rate
  11. Subscribers Growth Rate
  12. Subscriptions Churn Rate
  13. Subscriptions Growth Rate
  14. Net Sales – Subscribers
  15. Net Sales – New Subscribers
  16. Net Sales – Existing Subscribers
  17. New Subscribers
  18. New Subscriptions
  19. Total Sales (Subscribers)
  20. Subscription Revenue Rate

Subscription Cohorts

  1. Active Subscriptions per Cohort
  2. Active Subscribers per Cohort
  3. Cumulative MRR per Subscription
  4. Cumulative MRR per Subscriber
  5. Lifetime Revenue per Subscriber
  6. Lifetime Revenue per Subscriber Cohort
  7. Lifetime Revenue per Subscription
  8. Lifetime Revenue per Subscription Cohort
  9. MRR per Active Subscription
  10. MRR per Active Subscriber
  11. MRR per Subscribers Cohort
  12. MRR per Subscriptions Cohort

Subscription Activations

  1. Activation Rate
  2. Days to Activation
  3. New OTP Subscribers
  4. Rate of One-Time to Subscriber
  5. Subscribers Rate

Some of the most important discoveries for e-commerce merchants lie within these metrics. Users can look at subscription staple metrics like Monthly Recurring Revenue (MRR), Cumulative MRR, Churn Rate, Growth Rate, Subscribers Rate, (plus so much more) for an overall snapshot of their business. 

They can also access more nuanced and detailed metrics like Lifetime Value per Subscriber, which groups customers into monthly cohorts (based on the month in which the customer was acquired) and shows the revenue those cohorts have brought to the business over the duration of their time as subscribers.


LTV subscriber table

Lifetime Value per Subscriber Cohort Table

Most importantly, Bold Subscriptions users won’t be boxed into just a single view of these subscription metrics. Peel empowers users to dig deeper and get the granularity they need with segmentation. All 37 subscription metrics can be segmented by products, locations, or subscription types (identifiers include: cancellation reason, day of the month, day of the week, order frequency, and pre-paid). 

Driving Subscription Growth with Peel x Bold Subscriptions

The integration between Peel and Bold Subscriptions is about bringing more dynamic subscription options to the end user while providing the merchant with more tools to understand what makes their subscription customers tick. 

All of this brings into focus the efficacy and impact of different business decisions and marketing strategies. 

For example, if a brand notices a strong retention trend in their Active Subscribers per Cohort metric for a given month, there’s a whole line of strategic questioning that should crop up in the merchant’s mind:

Subscriber per cohort table

Active Subscribers per Cohort table

“What products did that cohort subscribe to?” 

This should lead to segmentation by products to find out if there is a trend there; were there certain new product offerings that helped acquire more valuable subscribers that are being retained over a longer period? How long do people stay subscribed to different product offerings? What are their cancellation reasons, etc?

Segmenting by Products in Peel

“Did we attract these subscribers with a discount strategy?” 

What campaigns were they running during that month? Did they send a “subscribe-and-save retention” email to recent purchasers? Does this drive in more loyal subscribers?

“What portion of these subscribers were one-time purchasers?” 

This question should lead to looking at the New OTP Subscribers, which will show the newly acquired subscribers who previously made a non-subscription purchase with the brand. They can also reference Rate of One-Time to Subscriber to understand the pacing at which one-time purchasers are converting to subscribers. This can inform marketing strategies like email and SMS for better timed messaging.

Rate of one-time to subscriber chart

Rate of One-Time to Subscriber Chart

This line of questioning also leads to a whole host of general questions about subscribers and subscriptions that merchants can quickly answer with Peel. Common among those include: 

“What proportion of our customer base are subscribers?”

The Subscribers Rate metric shows this. This helps brands understand the number of customers who become subscribers over time. This is calculated by comparing subscribers to the total number of customers. This is important information for retention and conversion campaigns when targeting subscribers vs. regular purchasing customers.

Subscriber rate chart

Subscribers Rate Cohort Table

“How can we measure MRR?”

With MRR being the chief benchmark for countless subscription brands, Peel automates the metric for both overall subscriptions as well as subscription cohorts. This provides a snapshot of the overall business as well as more specific MRR per cohort, which makes it easy for merchants to discover what drove more valuable customers in certain months over others.

How does our churn compare to our retention?

Churn and retention are both high-priority metrics for subscription businesses. Peel automates Duration of Active Subscriptions and Subscribers along with Churn Rate for brands to understand how long their customers are subscribing for. This can lead to important discovery for reducing churn and improving retention via better product offerings, better timed retention messaging and more.

The answers to these questions should reveal opportunities for strategic improvement across product/subscription offerings, marketing/advertising campaigns, and user experience on a brand’s website. Being able to look at subscriber vs. subscription metrics is highly relevant as well, as some subscribers may have multiple subscriptions.

It’s all about repeating successful actions and eliminating or improving less successful ones. Ultimately, this should serve as the fuel for brands to build loyalty and increase retention across their subscriber base. 

Whether the user is looking to get a better understanding of their subscribers and subscriptions, aiming to convert more one-time-purchasers to long-term subscribers, or trying to reduce subscriber churn, the Peel x Bold integration allows them to push their subscription data into Peel to analyze the customer data needed to understand and grow the business.

Getting Started with Deeper Analysis of your Bold Subscriptions

When you’re looking into a data analytics platform, it’s always best to start with a free trial if one is available. Peel offers a 15-day free trial that you can start with just a couple clicks in the Shopify App store.

It is absolutely essential that you connect as much of your tools as possible to Peel to get the full experience and value that their analysis brings to the table. 

As for connecting Bold Subscriptions, it’s easy. Once you’ve started your Peel trial, find the “Data” section toward the bottom of the left menu. Select “Connections and Datasets” then select the purple “Add Datasource” button. From there, simply find Bold v1 or V2 and select it to connect! Then wait a day, and the 37 metrics will be automatically populated on your account!

Once your Bold Subscriptions data is integrated into your Peel environment, you’ll be equipped to learn more about your subscribers, subscriptions, churn rate, subscription cohorts and more to drive major growth for your subscription strategy.

This originally appeared on Bold Commerce and is made available here to cast a wider net of discovery.
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