We asked pros from 60 SaaS businesses to share tips for converting trial users to paid customers. Here’s how they’ve improved their paid activation rates.
Product and Design | Jun 26
John Bonini on October 26, 2018 • 3 minute read
Pretty much every point in the customer journey is measurable, from free trials to churn to reactivations (and everything in between), subscription companies have a wealth of data to monitor.
You can track anything and everything.
(Bonus points if you got the Anchorman reference right away.)
ProfitWell is a free tool that helps SaaS companies track these metrics. Starting today, you can now track and visualize your ProfitWell data in Databox, too.
Things like active customers, new recurring revenue, active trialing customers, upgraded customers, downgraded customers, total churn, and much (much) more. You can also segment metrics like new recurring revenue, churned recurring revenue cancellations, etc., by plan ID so you can visualize specific accounts that may need your attention in one spot.
Note: ProfitWell integrates with Stripe, Braintree, Chargebee, Zuora, and Recurly. While Databox also has a native integration with Stripe, now Databox users (via ProfitWell) can also visualize their financial data from Braintree, Chargebee, Zuora, and Recurly, too.
At launch, there are over 73 ProfitWell metrics that you can now visualize in Databox, including pre-built Datablocks that you can drag-and-drop right into your dashboard. The coolest part about the pre-built Datablocks? Once you drop them in your dashboard, the data will populate with the visualization automatically.
Here’s how it works…
We’ve created a few pre-built reports to get you started as quickly as possible. All you’ll need to do is connect your ProfitWell account and you’ll be good to go.
Here’s just a few to get you going…
Whether you’re looking into macro trends (like recurring revenue) or looking to go deeper into specific metrics like reactivations, downgrades, voluntary churn (and more) in order to see exactly where you’re growing (or not), now you can view all of your critical revenue metrics on one screen.
Track individual MRR inputs (like reactivations, upgrades, downgrades, churn, and much more) as well as their performance month-over-month in one place to see which areas need attention.
Get an overview of churn, including total churn, voluntary churn, delinquent churn as well as their corresponding churn rates.
See your company’s growth in key areas year-over-year, and more.
Churn is unavoidable for any subscription business. However, reducing churn often presents greater opportunities for growth than adding new business would.
Reducing churn starts with awareness for everything that influences churn.
Track total, voluntary, and delinquent churn–as well as how each is trending month-over-month–to zero in on areas that need attention.
Track total churn year-to-date (by month) in order to identify important trends in your strategy and how it’s influencing (or not influencing) churn.
Track incoming sources of revenue, churn metrics, upgrades, downgrades (and more) and see how fast your company is growing.
On one dashboard, you can track your growth rate year-to-date (by month) to draw a correlation between strategy and its impact on growth.
You can browse our complete list of pre-built reports for ProfitWell here.
Or, you can create a dashboard from scratch and start visualizing all of the metrics from ProfitWell that you need.
Create your free Databox account to get started.
Not using Profitwell yet? Why not? If you’re running a Software-as-a-Service or any other type of subscription business, it’s free and immensely valuable. Create a free Profitwell account here.
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