Vitally has always been a tool to help you gain detailed insight into product adoption and usage at your customers. Of course, product usage is just one (important) data point to consider when trying to fully understand your customers. Another is the customer's willingness to pay for your product, which required using another tool separately from Vitally...until now 😉
This month's release is exclusively focused on helping you measure the entire subscription lifecycle alongside the customer's product usage - from your trials to the unfortunate churn. Let's see what that looks like with some pretty pictures!
Revenue and renewal tracking
For your subscribed, paying customers, Vitally now gives you the ability to track each customer's MRR plus their subscription renewal date. When configured, we'll automatically enable these features for you:
- Track and update each customer's MRR as it changes.
- Track when a customer's subscription is set to renew and highlight when that is approaching.
- Showcase how many paying customers are new as well as have an upcoming renewal date.
- Highlight total MRR across customers as you run reports.
- Calculate total MRR across dynamic customer sets of customers - e.g. engaged vs unengaged, customer with active Indicators, etc.
More often than not, your business will have a mix of current trials and active, paying customers. Since it is common for teams to manage trials differently than paying customers, you can now easily keep these two separate in Vitally. When configured, you'll be able to:
- View your trials separately from your paying customers.
- Track when trials are set to end.
- Automatically move expired trials to an 'Unconverted' stage, where they can be viewed separately from active trials.
Unfortunately, churn happens, and Vitally helps you analyze and learn from that churn. When churn tracking is enabled, you'll be able to:
- Automatically track when customers churn, which moves them into a separate view from your active, paying customers.
- Easily see how much MRR has churned over the last 30 days.
- View and analyze each customer's product usage prior to their cancellation to better understand why they churned.
Manually adjust customer subscription details
While we certainly encourage that you setup these new features using data from your analytics tool (e.g. Segment, Mixpanel), we do provide the ability to also manually adjust a customer's subscription details.
Bonus: Track significant customer events with Zapier
A couple of releases ago, we launched a beta integration with Zapier. One capability we now support with that integration is the ability to send significant customer events from any Zapier-supported system to Vitally. You can then leverage those events in Vitally, from simply seeing how often they occur to using them in custom Success Metrics.
Here are just a few interesting use cases with this new support:
- Configure the above subscription features using New Charge, New Trial, and Subscription canceled events from billing tools like Stripe.
- Create new events for conversations in support tools like Intercom to track when, and how often, you communicate with your customers.
- Create new events for NPS responses and leverage that data in a new Success Metric that tracks each customer's NPS score.
Configuring these new features
To enable these new features, navigate to the Subscription Tracking section in your Account Settings. Documentation to walk you through the setup process step-by-step is in the works, but until then, please feel free to contact us at firstname.lastname@example.org if you have questions or need any help.
The Vitally team