Today, we are launching two new charts to better understand your funnel from newly acquired customer to paying subscriber.
The Initial Conversion Rate chart shows what proportion of each cohort of new subscribers either started a trial or made a purchase without a trial. You can think of it as the proportion of subscribers who took an action on your paywall, or paywall conversion.
The Conversion to Paying chart shows what proportion of each cohort of new subscribers ends up paying (either because they converted from a free trial to paying subscriber, or because they made a purchase without a trial). This can be thought of as the end-to-end view of the conversion funnel within your app.
With these new charts, we now offer three views of conversion rates (the Trial Conversion chart remains, of course). Which of these are most useful and valuable to you will depend on your product setup—whether you offer subscriptions with trials, without trials, or a mix of both.
Let us know if you have any questions or comments in the thread below!
Feel like the numbers are way too low for my other recent days as well. Is there an explanation or is it a bug?
Just to be clear, I did not have 14 direct activations (new purchases) that day!
As an example: If I acquired 10 users yesterday, and 2 of them started a trial yesterday, and 2 of them start a trial today, then in the New Customers and Trials chart it would show 2 conversions yesterday and 2 conversions today. In the Initial Conversion rate chart, it would show 4 conversions (40% conversion rate) for yesterday’s cohort of customers, since all of these conversions would be attributed to the customer cohort of yesterday.
Cohorting conversion like this is a standard best practice for subscription apps, particularly since it allows relating in-app conversion with user acquisition.
Does this help answer your question?
Maybe there is one and I’ve missed it, but I would love a chart where you could see trials by start date as that would help understand how much revenue is expected to be incoming on any given day.
I am just trying to understand the trial conversion data below.
We offer a 1 month free trial so am trying to work out how we still have pending trials from August and September.
Is it that if we first saw a customer in August and they don’t start a trial until November then that is attributed in the August cohort?
@THE DUNG AN , that's exactly right, customers are cohorted by when they were first seen.
@Jens thank you for clarifying!