Fusionmetrics gives you many KPIs and sometimes it’s hard to keep track of all the things you can be track. The following will explain some of the most important KPIs that are available on the dashboard.
Revenue and Active Shops
- Top KPIs and Revenue Graphs:
- Annual Run Rate: The revenue earned per 365 day period. This is extrapolated from the last 30 days of earnings. It helps you to create a the yearly budget of your company. You can break down this metrics by your app’s plan name on the top of the dashboard.
- Monthly Recurring Revenue: MRR (Monthly Recurring Revenue) is the portion of your revenue that comes in a 30 day period. It’s important to track because it’s a leading indicator of growth.
- MRR existing Customers: Portion of the current MRR which is coming customers that also generated revenue in the previous 30 day period
- MRR new Customers: Portion of the current MRR which is coming from customers who are starting to generate revenue in the last 30 days.
- MRR expansion: Portion of the current MRR which is coming from revenue growth of existing customers
- Average Revenue per User (ARPU): This measures how much revenue each paying user generates, on average. This KPI will help you understand the lifetime value of a customer.
- MRR contraction: Portion of the current MRR which is coming from revenue contraction of existing customers.
- MRR churn: Revenue that is lost due to customer churn. Customers who have not been generating revenue over the last 60 days are counted as churn until they start generating revenue again. In this case this is reattributed automatically into expansion/contraction. This is an important metric to track because it will give you insights into customer satisfaction and help you improve your product.
- Pending usage charges: Amount of usage charges that have been generated but not been payed out yet over the last 90 days
- Paying Shops:Number of shops that generated revenue in the past 30 days.
- Churn Revenue Percentage: In the Revenue Graph the churn rate is also displayed as a percentage value
- Pending usage charges: Amount of usage charges that have been generated but not been payed out yet over the last 90 days
- Paying Shops:Number of shops that generated revenue in the past 30 days.
- Churn Revenue Percentage: In the Revenue Graph the churn rate is also displayed as a percentage value. The value is calculated as (MRR churn)/(MRR Churn + MRR Existing Customers)
- Pending usage charges: Accumulated usage charges over the past 90 days that have been incurred, but not yet paid. These charges represent all the usage costs yet to be cleared, meaning they haven’t been incorporated into visible revenue transactions. Shopify takes care of this automatically, provided the merchant is active and can incur charges. However, because some charges may never be collected, such as in cases where the merchant cannot be charged, we only consider the charges accrued over the past three months.
- Paying Shops:Number of shops that generated revenue in the past 30 days.
- Churn Revenue Percentage: In the Revenue Graph the churn rate is also displayed as a percentage value
- Number of paying shops: This Graph breaks down the number of paying shops in the following components:
- New Shops: The number of shops that started to generate revenue in the respective 30 day period.
- Existing Shops:The number of shops that have been generating revenue already before the respective 30 day period.
- Churned Shops:The number of shops that stopped generating revenue in the respective 30 day period.
- Trial Activation Rate:The percentage of shops with app install in the respective 30 day period that completed the trial phase. The trial activation rate is calculated by dividing the number of shops with a completed trial by the number of shops that installed the app in the respective period.
- Revenue Ancestry:
The revenue ancestry graph gives you a visual representation of revenue streams that started in a given 30 day period. This gives you a quick representation how much the revenue streams contribute to todays MRR
Conversion and Revenue Attribution
Trial to payed conversion and Revenue attribution: The trial to payed conversion and graphs show you how many shops did install the app and how many of them converted to paying. This uses data from the Google Analytics Goal Conversion Event. Note that this can underestimate the real numbers slightly if many app installs are still in trial phase. If you trial phase if e.g. 15 days, we cannot measure install to payed conversion for the last 15 days. Once a shop starts generating revenue this is shown on the right hand side.
- Install to payed conversion rate by source uses the source information from Google Analytics as they are available. The actual number of attributed events are shown in the legend. The most relevant metrics are:
- App-Store measure the install to payed conversion from people who came through the Shopify App-Store.
- Organic means unpaid search e.g. Google search engine traffic. This is relevant to measure you Search Machine Optimisation (SEO) efforts.
- CPC stands for Cost-per-Click i.e. Google or Facebook Ads.
- Other: any medium information available to Google Analytics is available automatically.
- App Store surface is the type of page the merchant came from to get to the app listing.
- home: The home page of the Shopify App Store.
- search: The organic search result on the Shopify App Store.
- search_ad: The paid search result on the Shopify App Store.
- category: One of the category pages on the Shopify App Store.
- collection: One of the collection pages on the Shopify App Store.
- Lastly we break down the App Store (non-paid) search terms that resulted in conversions as well as the revenue from stores generated that converted after finding the app with the respective search terms.
- Install to payed conversion rate by Source uses the Source information from Google Analytics as they are available. The actual number of attributed events are shown in the legend. The most relevant metrics are:
- App-Store measure the install to payed conversion from people who came through the Shopify App-Store.
- Organic means unpaid search e.g. Google search engine traffic. This is relevant to measure you Search Machine Optimisation (SEO) efforts.
- CPC stands for Cost-per-Click i.e. Google or Facebook Ads.
- Other: any medium information available to Google Analytics is available automatically.
- App Store surface is the type of page the merchant came from to get to the app listing.
- home: The home page of the Shopify App Store.
- search: The organic search result on the Shopify App Store.
- search_ad: The paid search result on the Shopify App Store.
- category: One of the category pages on the Shopify App Store.
- collection: One of the collection pages on the Shopify App Store.
- Lastly we break down the App Store (non-paid) search terms that resulted in conversions as well as the revenue from stores generated that converted after finding the app with the respective search terms.
- Churn Analysis shows you after how many days we see what percentage of merchants that have churned. This give us a good indication how stable our revenue is. If the asymptotic value is e.g 50% this means that only 50% of our customers will only ever churn under todays market conditions.
- Trial Analysis shows you how many merchants are currently completing the trial phase and at what trial length they are. As time progresses, customers move from right to left.
Customer Acquisition Cost Modelling for CPC
The last set of graph shows a model to determine viability of payed ads. To calculate this we take the calculate the average revenue per show as well as the churn rate. From this again we can calculate a Customer Lifetime Value. If we multiply this by the install to payed conversion rate for payed CPC traffic (point 8) we can calculate at what customer acquisition cost (CAC) for this channel we start making a profit. This means as long as we can acquire new install below the maximum CAC we generate a profit.
Churn percentage is calculated as (Customer churn)/(Customer Churn + Existing Customers)
Live Time Value is calculated as (Average Revenue per Paying Customer)/(Churn percentage)