Churn is an existential factor in any subscription business. Attn: Grace was looking for faster ways to increase retention, customer lifetime value, and overall revenue for their Subscribe and Save program. With every improvement, they can beat back the ugly churn monster.
However, the team struggled to make sense of their subscription data due to piecemeal analytics tools and delayed cohort modeling (due to having to build cohorts manually in Excel on a monthly basis).
They needed a better way to understand the revenue of each cohort (month they subscribed) to understand what marketing and promotions were driving loyalists from customers who were more likely to churn.
A lack of accurate, real-time data meant they were unable to pull marketing levers at the speed the company needed to keep customers subscribed for longer, and at higher AOVs.
Using Daasity’s cohort analysis based on Recharge data was a game-changer for Attn: Grace.
They were able to gain the real-time insights into customer behavior it needed to adjust marketing tactics to increase AOV, retention, and accelerate the time to achieving LTV targets.
For example, using Daasity, Attn: Grace could identify behavior differences of its most profitable cohorts–those with the highest LTV–and use that information to target them with new marketing efforts and customer experiences. They also could pivot to target the cohorts not performing as well and incentivize them to stay subscribed for longer.
In addition, the team was able to dig deeper and piece together a story as to why one cohort might be more valuable than another and look at what marketing or merchandising they did in certain months that seemed to be particularly effective. These insights are critical for helping the company plan and prepare for its future growth.
The small but mighty Attn: Grace team didn’t have time to waste when it came to data analytics. They needed a solution that would fit with the way they worked–not the other way around.
With Daasity, Attn: Grace consolidated various marketing and sales dashboards into a centralized place that enabled access to their data in real time.
Daily reporting visualizations were customized for the team to make them as useful as possible for their business needs. Daasity also enabled daily analytics reports to be distributed via Slack, a channel the team used extensively and was much more convenient for them than email or an online dashboard.
Daily reporting helped the team stay on top of real time metrics compared against the forecast, enabling the team to make quick adjustments to marketing and promotions to specific segments to jump-start sales when they need to hit numbers.
The information also helped the team better allocate marketing spend. For example, they could break down total sales by Amazon, Shopify, and Recharge, and new customers versus returning customers. Comparing data month over month, the team could quickly determine if they needed to put more effort towards customer acquisition or retention to hit their revenue goals.
In addition to daily reporting, Daasity has been essential for Attn: Grace fundraising. The team was able to pull up real-time KPI metrics during investor presentations and feel confident in the quality of the data. Even screen sharing their Daasity dashboards with potential investors, walking them through the metrics in real time.
Leveraging your data is absolutely critical in a DTC business, there’s no way around that. Ultimately, it was the combination of Attn: Grace’s unbelievable product-market fit with data driven strategies fueled by Daasity that created so much success over the last few quarters.