Skio Business Review: Summer 2023 Skio Business Review: Summer 2023

Skio Business Review: Summer 2023

Jordan Wheelock Jordan Wheelock

Table Of Contents:

  1. Skio Data Platform Philosophy
  2. Dashboards Overview
  3. Finding KPIs
  4. Optimizing KPIs
  5. Partner Recommendations

Skio Data Platform Philosophy

After a year of collecting feedback and investing heavily in rebuilding our analytics from the ground up, we are excited and proud to introduce the Skio Data Platform. The Skio Data Platform (SDP) is both an investment in our database to be able to offer the best and most accurate data for you as well as a commitment to offering data for each new feature we offer. We are committed to offering reliable, exportable data to help you make data-driven decisions to help you grow your store and provide insights on the value of Skio’s features. Don’t take our word for it, let the data speak for itself!

In addition to better and more reliable data, Skio is implementing new testing components throughout the platform so you can test out what works best for moving the needle for your subscribers. With our new in-house analytics, we want to offer you helpful insights on both short-term and long-term value adds. With subscriptions, you are investing in the long game and we’re excited to introduce more tools throughout 2023 to track how our features increase retention, reduce churn, increase AOV, increase LTV, and help your support teams with inbound tickets and requests.

Dashboards Overview

Performance

Description: This is a high-level overview of your store’s performance broken up by revenue, orders, and subscriptions with helpful daily graphs

Important Metrics: Subscription revenue, subscription AOV, Order count, active subscriptions, active products on subscription, and active subscribers

Products

Description: A granular look into activations and cancellations as well as a breakdown of helpful KPIs per product

Important Metrics: Activations, cancellations, products per subscriber, product activations & cancellations, active quantity of products on subscription, revenue per product, and AOV per product

Forecast

Description: A 30- and 90-day forecast for your upcoming subscription orders per day and per product

Important Metrics: Queued revenue, queued units (quantity of products), and queued orders in aggregate and per product

Dunning

Description: This dashboard provides valuable insights on failed payments and the recovery rates of subscriptions that entered dunning

Important Metrics: Count of subs that entered dunning, recovered subscriptions, passively cancelled subscriptions, and error reasons

Cancel Flow

Description: A detailed breakdown of all subscriptions that went through the cancellation flow as well as the data associated with each session

Important Metrics: Number of subs that entered the cancel flow, MRR saved, and comparison of different treatments

Cohort Retention

Description: A dashboard dedicated to cohort analysis as well as cohort retention

Important Metrics: AOV, LTV, and average order count by cohort, cohort retention by months since acquisition, cohort retention by order count

Finding KPIs

Metric

Dashboard Location

Where to Find

Current number of active subs

Performance

In Subscription section, use the top left card starting with “Active Subscriptions”

Count of revenue from new vs recurring subs

Performance

In the Revenue section, use the middle two cards titled “First-time revenue” and “Recurring revenue”

% of orders from new vs recurring subs

Performance

In the Orders section, use the middle two cards titled “First-time revenue” and “Recurring revenue”

Num of new subs created

Products

In the Activation & cancellation section, use the “New subscriptions” card

Num of subs cancelled

Products

In the Activation & cancellation section, use the “Cancelled subscriptions” card

Quantity of products on active subscriptions

Products

In the Subscription products breakdown table, use the “Active Quantity” column

Num of 1-time add-ons + revenue

Products

Use the One-time add-ons table

Num of surprise & delight add-ons

Products

Use the Surprise & delight add-ons table

Forecasting by product (rev, units, orders)

Forecasting

Use the Forecast by products to see revenue, units, and order count by product

Recovery rate of failed payments

Dunning

Use the “Entered dunning” card and the recovery % underneath

Most effective cancellation flow treatment

Cancel Flow

In the Survey Statistics section, use the 2nd table and select a cancellation reason to see all the treatment data

Optimizing KPIs

Important KPIs

Helpful Strategies

Helpful Resources (Links)

Reduce active churn

Optimize cancel flow, offer Surprise & delight reward

https://help.skio.com/skio-features/surprise-and-delight, https://help.skio.com/skio-features/cancel-flow-v-2

Reduce passive churn

Optimize your store’s dunning notifications

https://help.skio.com/integrations/klaviyo-integration-v-3

Increase engagement

Utilize Skio’s SMS notifications & marketing SMS integrations

https://help.skio.com/best-practices-guides/optimizing-subscription-notifications

Increase reactivations

Use the reactivate quick action stacked with a discount code

https://help.skio.com/best-practices-guides/creating-winback-flows-in-klaviyo

Increase recurring AOV

Use 1-time upsell & add product quick actions in upcoming order flows

https://help.skio.com/best-practices-guides/maximizing-quick-actions

Increase subscription growth rate

Offer subscription perks and subscription-specific landing pages

https://help.skio.com/best-practices-guides/maximizing-quick-actions

Partner Recommendations

Need help? We have some friends who can help!

Email Agencies

  1. Flowium
  2. Roswell
  3. Elliot
  4. PAASE
  5. 100C

Developer Agencies

  1. Alleyoop
  2. Electric Eye
  3. Noticed
  4. Roswell
  5. Dyode

Growth Agencies

  1. ATTN
  2. Raani
  3. EAV
  4. DTCco
  5. Power Digital

Integrations

  • Relo: Convert 1-time purchasers into subscribers
  • Quiz Kit: Create beautiful quiz flows
  • Replo: Create landing pages with a simple-to-use builder
  • Aftersell: Offer post-purchase upsells

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