Earlier this year, we announced a major analytics upgrade to Kajabi with a suite of new reporting that allowed our customers to gain greater insight into the key metrics of their businesses.
As promised, it was only the beginning!
We’ve got another new analytics update ready to unleash, and it’s going to be huge for anyone running an offer that involves recurring monthly payments.
Starting today, you’ll be able to see subscription metrics reporting in your Kajabi dashboard.
Metrics that matter.
We’ll let Kajabi President Jonathan Cronstedt (JCron) explain why this update is so exciting for subscription business owners.
Be warned: This video will make you want to create a subscription program, if you haven’t already…
“No Numbers, No Business. Know Numbers, Know Business”
Track what makes the most impact.
Subscription businesses operate in a way that is fundamentally different from traditional businesses, so they have to be measured differently too.
That’s why we’ve focused on giving you 3 key metrics in these reports that will provide the best sense of how your subscriptions are performing over time.
Here’s what you’ll be able to see in your subscription metrics dashboard:
#1 - Monthly Recurring Revenue (MRR)
This is the most important metric in any subscription-based business model - it’s the “heartbeat” metric you’ll use to keep tabs on the health of your business.
MRR tracks how much revenue you’re earning from recurring payments on a monthly basis. By taking all non-recurring payments out of the equation, you’re left with a clear picture of your predictable monthly revenue.
By tracking this metric, you’ll be able to tell if your subscriptions are performing better this month vs. last month, and over time you’ll be able to establish a baseline that will help you judge the success of new offers and project future growth.
#2 - Average Revenue Per User (ARPU)
ARPU tells you how much revenue you are generating from each subscriber on average. It’s especially useful if you have multi-tiered plans where customers pay different amounts.
Understanding this metric is key when you’re trying to hit a monthly revenue goal.
Do you need to attract more customers, and if so how many? Or do you need to focus on increasing how much each customer spends with you? Tracking ARPU will help you decide.
#3 - Churn Rate
Churn rate tells you what % of subscribers are canceling each month. It functions as a customer satisfaction index.
Even the best subscription services can expect a certain amount of churn, but of course, you’ll want to keep it low and hold on to as many subscribers as possible.
Paying attention to churn rate helps you test your efforts to keep subscribers happy, and lets you know if you’re headed in the right direction.
It can also provide a statistical “north star” to follow when you’re trying to interpret various customer feedback.
If you’re wondering whether that change you made to your product or service was something that the bulk of your subscriber base actually wanted, rather than just a handful of your more vocal subscribers - churn rate usually has the answer.
Where to find these new reports in Kajabi:
Starting from your main Kajabi Dashboard, you can find subscription metrics by clicking on Websites > Analytics to open your Analytics Dashboard.
From there, you’ll see all of your reports in one easy-to-access place.
Curious about how all of these metrics are calculated? Check out the related help article inside Kajabi’s learning center.
We’ve prioritized providing you with these new Pro Analytics features because we know it’s going to empower you to think big picture and make the best possible decisions for your business.
So hop into your dashboard today and enjoy the bird’s eye view!
Start tracking your key subscription metrics!
p.s. Watch a replay below of Jeremy, our VP of Product, and Isabelle, one of our Product Managers as they dive into the new Subscription Metrics Dashboard in Kajabi.
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