As to not bury the lede, today we're excited to take our mission to help you grow your subscription business to the next level by launching ProfitWell Engagement, a free add-on to ProfitWell metrics that layers product usage activity directly on top of your financial metrics.
Six years ago we set out on a journey to understand the truth when it came to how subscription companies grow. From studying the depths of subscription pricing with Price Intelligently to giving you a single source of truth for your company's financial metrics with ProfitWell's free financial metrics, everything we do is focused on helping subscription companies grow in the pursuit of that truth.
Depth is crucial on this journey though, because we must as a community continue to uncover what helps and hurts recurring revenue success by studying our data in full. A major piece of that depth is the engagement your users have with your product, particularly how that usage drives value (or detracts from it). Hence, why we've been working so hard to bring you ProfitWell Engagement, which is the next piece in the puzzle of bringing you end to end subscription metrics for free.
What exactly does ProfitWell Engagement do?
After linking up your subscription billing system (Stripe, Braintree, Recurly, Zuora, or Chargebee), you simply install an asynchronous JS snippet to start layering on active usage data to your financial information. As a result, you not only can track your product's daily, weekly, and monthly active usage, but you can start to uncover insights around what percentage of your MRR is at risk from poor usage....
...or even create lists around who's at risk from poor usage based on their activity in the context of their current revenue level.
When combining ProfitWell Engagement with ProfitWell's built in segmentation engine, the limits of analysis break way to the ability to understand your users on a deeper dimension in the context of their lifetime value, MRR, and even their current plan.
How do you get started? How much does it cost?
ProfitWell Engagement, like ProfitWell Metrics, is completely free. We know we're providing considerable value in giving away the metrics for free, but we believe it makes more sense for us to make money when you make money. As such, our business runs on selling our other products like Price Intelligently and ProfitWell Retain.
To get moving with ProfitWell Engagement, you just need to start the ball rolling by grabbing your free ProfitWell account here. We've done a considerable amount of work to make setup exceptionally straightforward and turnkey. Depending on your billing system setup will take no time at all.
If you have any questions, of course, reach out to firstname.lastname@example.org.
As for the future, we're going to keep cranking on researching and learning our way to the center of the recurring revenue universe. If you want to join the mission, keep in touch with what's next, or just ask any questions, let us know at email@example.com. We're more than happy to help.