When running a recurring revenue stream, analysis and monitoring is important to understand the feedback of changes/offerings for the subscription plan.
As per the analysis, decisions like replenishment of stock, product feature changes, and customers trends towards a niche can be identified.
Here is a simple example of using analytics to make real-time decisions:
A merchant is offering both Product A and Product B on subscriptions, but Product A has a greater subscription rate than Product B.
Analytics for Product Wise Revenue can be used to determine what products are performing better in terms of subscription revenue.
After identifying that Product B is not performing well, it is in the merchant's best interest to further dig into the differences between Product A and Product B. This can help with analyzing:
Customer trends
Which product and niche is the customer base most interested in?
Re-stocking needs of Product A
Improving/offering incentives on the subscription model of Product B.
Appstle offers a number of dashboard analytics that can be regularly monitored. Some of the most important are the subscription adoption rate, which is deciphered from the number of orders and revenue generated from different subscription plans, and the churn rate.