Product Update: One-Time Purchases to Subscriptions Metrics
You have a brilliant product that is suited for recurring payments, so you offer your customers the option to Subscribe. Now you have two groups of customers; transaction/single purchase customers and subscription customers. So obviously you might be wondering about the behavior between those groups. You might nudge them to go on a subscription plan via a variety of experiments, and want to know—does this work? How many of those one-time purchasers become subscribers?
This suite of 4 new metrics look at the behavior of one-time purchasers who become subscribers and help you understand this type of customers behavior.
How many people make a one time purchase and then does it turn into a subscription? = New OTP Subscribers
What is the number of days between the first one-time purchase and the first subscription? = Days to Activation
When do you send campaigns to one-time purchasers to promote subscription? = Days to Activation, then Rate of One-time Subscriber & then New OTP Subscribers to see if the experiment increased the %
Are my subscribers subscribing and never purchasing things before or are majority of my customers one-time purchasers who then become subscribers? = Rate of One-time Subscriber
What is my total number of active subscriptions on any given day? = Active Subscriptions
What is the number of new subscribers? How many people are joining our subscription program? = New Subscribers
What is the number of one-time purchase customers becoming subscribers? = New OTP Subscribers