Running a Subscription Business? ChartMogul is *Amazing* (And We’ve Scored You $600 Off!)
We’ve just solved the hardest problem we’ve had for years: easily and accurately working out, displaying and digging into our Software as a Service (SaaS) metrics…. and it’s all thanks to ChartMogul.
Honestly, we’ve never found a better tool for simply hooking into your payment providers (for us, Stripe and PayPal, but they also support Braintree, Recurly, Chargify and more) and providing you with the data you really need to see how you are going, make informed decisions and, put simply, grow your business better.
Oh, and we’ve got you a $600 off coupon too :)
So, we figured that given many of our readers also run their own subscription-based business, we’d tell you about it!
And get you whopping $600 ($50 a month for 12 months) off their “Mogul” plan, so if you like it as much as we do you can join the club.
Just sign up for their free trial and then enter the coupon: wpmupromo2016 (expires November 30).
Anyway, here’s why we absolutely love them:
As you may be aware, WPMU DEV is Software as a Service (SaaS) subscription-based business – always has been, always will. And what’s the hardest thing about that? Metrics! Especially when, like many people, we moved from PayPal to Stripe and so have two completely different payment systems to manage.
2016 BC (Before ChartMogul)
Here’s how we used to do metrics…
If you ever want to see a withering look on a developer’s face, ask them to either completely change a payment and pricing system or come up with a bespoke internal stats package.
Yep, we’ve been pretty much running our own stats for the past, phew, seven years?
And they’ve been confusing, sometimes inaccurate, hard to maintain and, perhaps most of all, a massive drain on developer time… which would be better spent making awesome WordPress goods for you, dear reader.
So we decided to look for an alternative and found…
2016 AC (After ChartMogul)
It’s hard to describe just how simple this tool makes a previously really, really complex task.
First up integration with PayPal and Stripe is *literally* one-click, and that means that without having to upload CSVs, ChartMogul just slurps up all the data and gives you some pretty cool information, like your Annual Run Rate…. all the way back to 2010 (and prior).
Now, I’m not just putting this here to demonstrate how wonderful I am. Well, maybe a bit, but not entiiiiirely for that purpose :)
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But the main thing is that I can now get a simple view of the Annualized Run Rate (i.e. how much money you can expect to make in the next year) within seconds.
Along with simple comparisons to previous periods and all that jazz.
But that’s just where all the fun begins.
Let’s go through some features…
Enrich & Segment
But perhaps one of the coolest features available to ChartMogul users is the opportunity to segment and add in extra information about your members.
Essentially, the Data Enrichment features allow you to add additional information to your customers in ChartMogul via simple integrations with your favorite spreadsheet or service provider (hellloooo MailChimp!).
You can then segment your customers and perform analysis using this information.
Which means you can easily track things like customer lifetime value and churn rates based around specific cohorts.
And yes, I know you can find a bunch on information in Google Analytics, but the real secrets here are all around Monthly Recurring Revenue, specifically that with the setup you can do things like determine the LTV of different lead sources (for example, organic vs email vs Facebook ads), see where people are most likely to churn (and try ways to sort that) and even determine the relative success of your different plans… all over a period of time, i.e. freed from simply looking at transactions.
So yeh, go give them a go! I can almost guarantee you’ll be amazed at how quickly and effectively you’ll be able to visualize mission critical data for your business. Sign up for a free trial now and when you’re ready to hand over the cash (and you will be!) just pop in “wpmupromo2016” to save yourself $600 on your first year.
Oh, and in case you were wondering, there’s absolutely no affiliate program at play here – we’re simply promoting a great tool that we’ve found to you, dear readers, ‘cos we were able to get such a great deal for you.
Happy Moguling :)