We’ve just rolled out a refresh to the Baremetrics app! This is the first step towards making the app more readable and easier to navigate. Let us know what you think!
We’ve just rolled out a refresh to the Baremetrics app! This is the first step towards making the app more readable and easier to navigate. Let us know what you think!
We’ve just added a new Quick Ratio metric!
Quick Ratio is the measurement of your company’s growth efficiency. How reliable can you grow revenue given your current churn rate?
To calculate your Quick Ratio you simply divide new MRR by lost MRR. The higher the ratio, the healthier the growth is at the company.
To put it in a formula: Quick Ratio = (New MRR + Expansion MRR) / (Contraction MRR + Churned MRR)
You can read more about Quick Ratio, how it can be helpful for your company and a lot more in our Academy article on the topic.
Customers who sign up and cancel within the same 30 day window are now included in your churn rate. For most companies, this results in only a minor increase in the reported churn rate.
For a deeper dive, have a look at the retention table. The 0 column shows for each month what percentage of sign ups have remained a customer.
Previously the trial conversion rate used a “sliding 30 day conversion window”, which in effect showed you your conversion rate as it was 30 days ago. We’ve simplified and improved the formula to compare new trials to conversions within the same time frame.
You can now export a CSV of Recover email events. This lets you import them in to your favorite spreadsheet app to slice and dice that data however you please!
The “Cancellations” metric is now called “Churned Subscriptions” and we’ve added a new “Churned Customers” metric to accompany that.
Many companies allow multiple subscriptions per customer and the previous “Cancellations” metric was frequently confused as customer cancellations, when in fact they were subscription cancellations.
Instead of referring to customers by their full name (“Hello Sally Jones!”), you can now refer to them in a much more natural way using just their first name. Yay!
Just use the {Customer.FirstName} variable in your Recover email templates and you’ll be set!
If you collect card numbers as part of your trial flow, we’ll now include those trials as part of Recover so that failing charges during or at the end of your trial period will trigger the appropriate emails and in-app messages!
We’ve rolled out a complete overhaul of the Customers area, giving you and your team a powerful way to search and segment your customers based on dozens of attributes!
If you’re using Stripe along with Baremetrics Recover, we will now automatically retry the failing invoice once the customer updates their billing info.
Stripe stops retrying the charge after 3 attempts and won’t retry it again, even if the customer updates their billing info. Previously you’d have to go in to Stripe and do it manually (which most no one ever remembers to do).
Now Recover will do it automatically, collecting more failed charges for you!
