With our subscriptions offering the goal has always been to keep it simple. We wanted developers to have something quick and easy to work with to support digital subscriptions and avoid payment gateway lock in. Having said that, our lack of reporting within subscriptions has always been a pet peeve of mine. I'm happy to announce that we've now gone a long way toward solving that issue. And we've done so via "buy" vs "build".
Spreedly is partnering with DigMyData to provide reporting services to all Spreedly subscription customers. DigMyData is a third party data analytics tool. They support a lot of data sources, including PayPal, Authorize.net, Google Analytics and Stripe. All of our subscriptions customers now have an account for their data. If you like using it with Spreedly, some of you may chose to pay a fee to upgrade to include other data sources that DigMyData supports.
Let's get all "legal'ish" for a moment
Spreedly is paying DigMyData for our users to access their Spreedly subscriptions module. There is no cost to you our customer to access this service. Both sides worked hard on this agreement and don't intend to end it anytime soon. However, there is a chance that at any time we may no longer pay DigMyData to provide this service to our customers. At that point, you'll have the choice of paying DigMyData directly or no longer having access to the service. Secondly, DigMyData is completely independent from Spreedly. That's one reason why we are not doing a fully integrated single sign on/dashboard process. We want you to realize it's a third party service and that you'll be sharing your Spreedly data with them to utilize your reporting. You'll sign up via a DigMyData page that's specific to Spreedly customers.
Ok, now that's out of the way..... As Peldi from Balsamiq Studios says "DigMyData is an analytics dashboard for those who don't have time for analytics." DigMyData will help you with a graphical history around revenue, customer additions, cancellations, churn rates and more. You can compare time periods, and you can export data as a .csv file. Let me share some of our own data with you. In October 2011 we raised our Spreedly prices substantially. Naturally this upset many customers and opened us up to some major criticism (Read: "Something must have been going severely wrong at Spreedly HQ") Let's use DigMyData to look at what happened to us with October 2011 being the starting point. First, customer churn:
As you can see, in both October and November our churn rate skyrocketed. (In February it went up too but that's actually people migrating from our monthly to our new annual plan launched that month) Over time it settled back down. Let's look at what it meant for revenue.
Again, February was when we rolled out a new annual plan. Existing startups could opt out of the monthly and into the annual plan so we saw a spike in revenue there. (Annual vs Monthly plans are a post all in themselves. So that's some of the ways we're using DigMyData on our own data.
If you want immediate access to DigMyData email us at email@example.com and we'll send you the instructions to get set up. For everyone else we'll email out the instructions to get you going over the next couple of weeks. From the team here we hope you enjoy using DigMyData as much as we do!