Renewal rates are one of the most important metrics for publishers. Knowing how to interpret renewal reports can help businesses unlock sales and audience growth opportunities.
Interpreting Renewal Report Data
When examining how your audience renews, analyzing the following data points can provide valuable business insight:
- Rate Code: You may discover that higher or lower price points renew better than others.
- Source Code / Sales Portal: Learning how subscribers from different sources or sales portals renew can help you tailor your messaging, medium, and offer in order to increase renewal rates.
- Original Source Code: You may find that subscribers who originally came from certain sources do not renew very well. Offering a very inexpensive intro price only pays for itself, if the subscribers renew and become a long-term subscriber.
- Category Code: Perhaps certain types of subscribers (individuals, institutions, large firms, small firms, socioeconomic indicators, etc.) renew differently than others.
- Effort Analysis: Analyzing the effectiveness of each effort will help you determine the timing and offers that perform best. You may be able to eliminate some efforts or discover those sent after the expiration date help recover lost subscribers.
Multipub’s Renewal Reports
When accessing renewal information, you can choose from four separate reports. They include:
- Renewal Tracking Report
- Renewal Projections Report
- Campaign Tracking Report
- Expire Pool Analysis
Each Multipub report serves a specific purpose. To begin, the Renewal Tracking Report provides tallies for conversions. With it, you can easily see the renewal rates for those subscribers renewing for the first time vs. those that have renewed multiple times. From the screen displayed below, users can select the data points they’d like to include. This gives Multipub users complete flexibility in how they analyze renewal rates.
In contrast, the Renewal Projections Report looks at the renewal pricing established in Multipub and provides both the dollar value that is expiring, as well as the potential value of the renewal orders. This helps publishers project future earnings based on the renewal price of those subscribers renewing.
The Expire Pool Analysis looks at every order expiring on a given date and tells you its status – whether it renewed, requested Do Not Renew, was Canceled, or is missing from a campaign.
Whereas the Campaign Tracking Report examines specific campaigns. It allows businesses to see how a specific campaign has performed (versus an entire expire pool) and gives users the option of reporting on either the last Effort Sent to the subscriber or the Effort Returned (think the specific email or direct mail piece they responded to).
But, reports are only meaningful if they drive your decisions and actions. Don’t become married to just one renewal report; be sure and run all your options to glean information about your audience, as well as how/why/when they renew. Then, use this information to target your efforts and improve renewal rates.