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9 months ago

Order analytics - Churn & Retention

New

  
Why this feature?

To empower you with deep insights into their subscription churn, this feature helps answer critical questions like:

  • At what order count do you see the most cancellations?
  • Where do you experience the highest churn rate?
  • Are their cancellation flows effective during key order milestones?
  • What factors are driving cancellations at different stages?

With these insights, you can enhance your strategies for customer retention and optimize cancellation flows to reduce churn.

You can access this new dashboard under Loop > Analytics > Order > "Churn & Retention."

What's New?

Order-Wise Cancellation Data

Now you can analyze churn rates by completed orders and focus on the specific orders where the highest number of subscriptions are impacted. Identifying these crucial order milestones will help you to take targeted action.

For instance:

  • If churn rate on order #9 is 6% with only 900 subscriptions, while churn rate on order #2 is 4% but impacts 4200 subscriptions, focusing on order #2 could yield more significant improvements.

Cancellation Flow Effectiveness

Assess how well your cancellation flows are working by tracking save rates at different order milestones. Optimize your retention strategies based on these insights.

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Cancellation Reason Analysis

Analyze the reasons for cancellations over time, based on completed orders. By identifying trends in cancellation reasons, you can proactively address key issues causing churn.

For instance :

  • If cancellations spike due to "Quality issues" after a specific order milestone, you can review recent product batches or make changes to address these concerns.
  • If pricing is a recurring reason for churn after certain orders, offering tailored discounts may improve retention.

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Metrics Glossary

  • Subscriptions: Total active subscriptions + new subscriptions created during the period.
  • Cancellation Attempts: Number of subscribers trying to cancel their subscriptions.
  • Churn Rate: (Total number of churned subscribers / Subscriptions) * 100.
  • Churned MRR: Sum of total price (order discounted price + delivery charges) for all churned subscribers.
  • Saved Rate: (Total saved subscriptions / Cancellation attempts) * 100.
  • Saved MRR: Sum of total price (line items discounted + delivery) for all saved subscribers.

For any queries or additional information, please reach out to support at support@loopwork.co or your dedicated success manager!