A Beginner’s Guide to Shopify Recurring Payment Tracking

Are you a Shopify store owner who offers subscription products or services? If so, tracking your recurring payments is crucial to understanding your business’s cash flow and identifying areas for improvement. In this beginner’s guide, we’ll cover the basics of Shopify recurring payment tracking using By the Numbers.

Setting Up Your Subscription Payment System

Before you can start tracking your recurring payments, you need to set up a recurring payment system in Shopify. Shopify offers a variety of apps to help, Our favorite is ReCharge. Once you’ve set up your subscription system, you can start accepting recurring payments from your customers.

Tracking Your Recurring Payments with By the Numbers

To track your recurring payments in Shopify, you can use By the Numbers‘ prebuilt segment “Active Subscribers.” This segment includes customers who have an active subscriptions. You can use this segment to look at various analytics and reports, such as:

  • Total Sales report to see revenue generated from recurring payments
  • Average Order Value report to see revenue per subscriber order
  • Cohort Repurchase Rate report to see your best subscriber cohorts
  • Customer Lifetime Value report to see the projected value of your subscribers

Using these analytics and reports, you can gain insights into your recurring revenue and identify areas for improvement.

Analyzing Your Recurring Payments

One of the key benefits of tracking your recurring payments is the ability to analyze your data and make data-driven decisions. By analyzing your recurring payments, you can identify trends and patterns in your customer behavior, such as which subscription products or services are most popular or which customers are most likely to churn.

Using By the Numbers, you can also create custom segments of customers based on their subscription behavior and purchase history. This allows you to create targeted marketing campaigns and offer personalized promotions to your subscribers.

Conclusion

Tracking and analyzing your recurring payments is crucial to the success of your Shopify store. By using By the Numbers’ prebuilt segment “Active Subscribers” and its variety of analytics and reports, you can gain insights into your recurring revenue and make data-driven decisions to improve your business. Try it free today and take control of your recurring payment data!

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