Subscription ecommerce consistently scaled throughout the COVID-19 pandemic, with consumables like beverages and meal kits rising particularly fast in North America.
Shopify sites selling by subscription have always been a core part of our customer base at Littledata, and with even traditional brick-and-mortar retailers moving online and trying out subscription ideas, we've got our hands full with new subscription sites these days.
It might be easier than ever to start a subscription box (companies like Bulu have transformed the market), but getting accurate data about marketing attribution and customer lifetime value is difficult without the right data setup. So, we thought it would be useful to share some of our best tips about subscription analytics.
Here are our top four posts on LTV. Enjoy!
1. Two ways to calculate customer lifetime value for ecommerce using Google Analytics data
Ecommerce businesses that are paying attention to their data know of the importance of customer lifetime value. Measuring it correctly, though, isn't always clear.
In our Learning Videos series, we tackled this exact question and illustrated two different methods of calculating customer LTV using Google Analytics data for both one-off and subscription customers. Watch the video (or read the article) to learn how to add these LTV calculation skills to your data toolbox.
2. How to calculate LTV for ecommerce subscriptions
Lifetime value is a core metric for many online companies these days. This is especially important for ecommerce sites because, whether you're focusing on repeat purchases or actual subscriptions, marketing to (and product alignment with) the highest LTV customers can make or break a DTC brand today.
In this post, our founder breaks down the basics of LTV calculations for ecommerce, focused on Shopify stores using ReCharge for subscriptions.
3. How to use Custom Dimensions in Google Analytics to increase subscription sales
Custom Dimensions are a remarkably powerful feature in Google Analytics, often overlooked because they can be complicated to set up manually (also, they "sound complicated").
But the truth is that, with a little background research, custom dimensions are easy to understand. More importantly—they're easy to apply to your daily, weekly, and monthly reports in order to get a clear view of different order types, repeat purchasing behavior, and more.
In this detailed post, our lead analyst dives into the complications of modern DTC brands selling a mix of product types and subscriptions. You'll learn to reconcile differences in reporting tools and create segments or reports to fit your unique business model.
After all, talk is cheap. How can you put LTV calculations to work for your business?
Note: Did you know? Littledata automatically tracks first-time and recurring purchases and ties them back to the original marketing source.
4. The ultimate guide to LTV tracking
In this popular guest post on the Shogun blog, we take a look at everything you need to know about LTV.
When you know your LTV, you can:
- Know which kinds of products your high-LTV customers want more of
- Know how much to spend to acquire a “similar” customer and still make a profit based on their projected buying habits
- Promote the products with the highest profitability
- Increase your marketing budget and inbound efforts to attract your most profitable types of customers