Cohort retention dashboard Cohort retention dashboard

Cohort retention dashboard

Tyler Yannes Tyler Yannes

 

Outline:

  • Dashboard overview
  • Cohort retention metrics
  • Cohort overview metrics
  • Cohort retention metrics
  • Helpful resources

Overview

  • This dashboard is all about retention, grouped together by cohort sign-up date (first subscription created)
  • Custom cohorts can be viewed with the Retention metrics at the top of the dashboard with the date range selector (defaults to last 30 days)
  • The two retention tables are defined by sign-up dates and are not impacted by the date selector (only the cohort retention metrics are impacted by the date selector)
  • The product filters apply to ALL metrics found on the page

Data questions this dashboard answers

  • How many subscribers signed up in X month and how many subscriptions do they have?
  • What is the average order value (AOV), lifetime value (LTV), and average order count (AOC), churn rate, and revenue generated per monthly cohort?
  • What is Active MRR and cancelled MRR for custom cohorts?
  • Which cohort is making my store the most money?
  • What is the retention rate by cohort by month?
  • Where do customers drop off by month and by order count?
  • [With a product filter applied] Where do customers with X product drop off by month and by order count?

Things to keep in mind:

1. Cohorts are a grouping of subscribers based on their first subscriptions created at date
2. A subscriber can have multiple subscriptions; their cohort sign up month is attributed to their first subscription and the subsequent subscriptions they create will contribute to that cohorts metrics (AOV, LTV, AOC)
3. We combined migrated subscriptions into their own cohort row (Migrated subscribers) if you migrated from a prior platform; these metrics are the values for migrated subscribers processed via Skio (does not include prior platform's data)

Cohort retention metrics

screenshot-2023-06-05-at-5-21-10-pm.png

Metrics:

Cohort Subscribers: This is the count of newly created subscribers who had their first subscription created during the date range selected.

Cohort Subscriptions: This is the count of newly created subscriptions (unique subscription ids) for the cohort of subscribers during the date range selected.

Cohort Active MRR: This is the MRR from the cohort of subscribers created during the date range selected. Monthly Recurring Revenue (MRR) for subscriptions is calculated by multiplying the subscription value by the frequency of shipments in a month. For example, if a subscription is shipped weekly, then the MRR would be four times the subscription price, as there are four weeks in a month. Similarly, if a subscription is shipped bi-monthly, the MRR would be half the subscription value.

Cohort AOV: This the lifetime average order value (AOV) of all the subscriptions created for the cohort in the date range selected.

Cohort LTV: This the average lifetime value (LTV) of all the subscriptions created for the cohort in the date range selected.

Cohort AOC: This the lifetime average order count (AOC) which is the average of the sum of all orders for all subscriptions for the subscribers in the cohort in the date range selected.

Churn Rate: Churn rate is the % of the count of cancelled subscriptions divided by total number of subscriptions for the subscribers in the cohort.

First Order Cancel Rate: The percentage of subscribers who cancelled their subscriptions before the first recurring order processed.

Cancelled MRR: This is the MRR from the cohort of subscribers lost because of cancellations in the date range selected. Monthly Recurring Revenue (MRR) for subscriptions is calculated by multiplying the subscription value by the frequency of shipments in a month. For example, if a subscription is shipped weekly, then the MRR would be four times the subscription price, as there are four weeks in a month. Similarly, if a subscription is shipped bi-monthly, the MRR would be half the subscription value.


Cohort Overview Table

screenshot-2023-06-05-at-5-21-36-pm.png

Table description:

  • Provides the important KPIs per cohort, grouped together by the month the first subscription for that subscriber was created
    • If a subscriber creates multiple subscriptions or reactivates a cancelled subscription, the values of those subscriptions will be attributed to the original cohort month
  • The values provided are lifetime as of today; these numbers may change over time if cohorts generate additional orders
  • This table does not adjust based on the date filter, but will adjust for product filters used

Table metrics:

  • Cohort Month: Is the month the subscriber was created (by their first subscription created)
  • Cohort Size: The number of new subscribers created in that month
  • Total Orders: The total number of orders, as of today, that were created by all subscriptions by the subscribers in that cohort month
  • Total Subscriptions: The total number of subscriptions, as of today, that were created by the subscribers in that cohort month
  • Revenue: The total sum of revenue, as of today, that were created by all subscriptions by the subscribers in that cohort month; revenue is defined by the total price charged before taxes, shipping, and additional discounts
  • Churn Rate: Churn rate is the % of the count of cancelled subscriptions divided by total number of subscriptions for the subscribers in the cohort
  • AOV: This the lifetime average order value (AOV) of all the subscription orders created by the subscribers in this monthly cohort; revenue is defined by the total price charged before taxes, shipping, and additional discounts
  • LTV: This the average lifetime value (LTV) of all the subscription orders created by the subscribers in this monthly cohort; revenue is defined by the total price charged before taxes, shipping, and additional discounts
  • AOC: This the lifetime average order count (AOC) which is the average of the sum of all orders for all subscriptions for the subscribers in the cohort month

Retention by month graph

screenshot-2023-06-05-at-4-52-36-pm.png

 

Table description:

  • Provides the retention rate by month per cohort since the sign up month
  • The retention % states that X% of subscriptions is active on the last day month
    • Using the screenshot has an example above, in the July 2022 cohort in the screenshot 84.5% of the 187 subscriptions were active AFTER month 1
      • Signup = July 2022 (Month 1)
      • Month 1 (July 2022) = 84.5%; this means 84.5% were active after Month 1 and 15.5% cancelled before the end of Month 1
      • Month 2 (August 2022) = 72.7%; this means that 72.7% were active after Month 2 and 27.3% cancelled before the end of Month 2
  • The values provided are lifetime as of today; these numbers will change over time
  • This table does not adjust based on the date filter, but will adjust for product filters used

Table metrics:

  • Cohort Month: Is the month the subscription was created
  • Subscriptions: The total number of subscriptions, as of today, that were created by the subscribers in that cohort month
  • Month 1: The month the subscriber signed up; the % for Month 1 is the % of subscriptions active in the cohort AFTER the month was completed
    • If the subscription count is <100%, the difference from 100 is the % of subscriptions that cancelled IN their sign up month
    • For example, if I sign up in May and cancel before May 31st, I will not count towards the retention for that month
  • Month 2: The 2nd month after the initial subscription was created; the % for Month 2 is the % of subscriptions active in the cohort AFTER the 2nd month was completed

Retention by order count graph

screenshot-2023-06-05-at-4-52-52-pm.png

 

Table description:

  • Provides the retention rate by average order count per cohort since the sign up month
  • The retention % states that X% of subscribers have at least 1 order after X month and have at least 1 active subscription
    • Using the screenshot has an example above, in the August 2022 cohort in the screenshot 80.7% of the 197 subscriptions were retained AFTER the checkout order
      • Signup = August 2022 (Month 1)
      • Order Count 1 = 84.5%; this means 84.5% were active after their first order count and 15.5% cancelled before the second order (first recurring order) processed
      • Order Count 3 = 59.9%; this means that 59.9% were active after their 2nd order count and 40.1% cancelled before the 3rd order
  • The values provided are lifetime as of today; these numbers will change over time
  • This table does not adjust based on the date filter, but will adjust for product filters used

Table metrics:

  • Cohort Month: Is the month the subscription was created

  • Subscriptions: The total number of subscriptions, as of today, that were created by the subscribers in that cohort month
  • Order 1: The % of subscriptions in this cohort that were active AFTER order count 1 (checkout order)
    • If the subscription count is <100%, the difference from 100 is the % of subscriptions that cancelled IN their sign up month
  • Order 2: The 2nd order after the initial subscription was created; the % for Order 2 is the % of subscriptions active in the cohort AFTER the 2nd order was processed

Helpful resources

 

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