You asked. Recurly delivered. More built-in benchmarks.

Hi. I'm Loch Truong, senior director of product marketing here at Rick Early. I'll be joined by my colleague, Eric Holly, principal product manager. In this video, we're gonna showcase our latest set of built in benchmarks that are available within your recurring account. The new benchmarks, which will focus on subscriber acquisition and churn, will help you see how you stack against your industry peers. Let's dive in.

First, some obligatory stats on the value of data and analytics. The challenge for most companies is that there's a lot of data being created and captured. How much? In twenty ten, there were about two zettabytes of digital info created.

This equates to about a hundred and eighty four million football fields of one gigabyte thumb drives. Impressive until you consider that in twenty twenty, it exploded from two to forty four zettabytes.

That's a lot of thumb drives and football fields. But not all data is created equal. Hence, the saying data is a new oil. This means that data, like oil, isn't useful in its raw state. It needs to be refined, processed, and turned into something useful. Its value lies in its potential. We'll share how Recurly turns its potential into valuable insights.

Our reporting and analytics delivers flexibility through, one, interactive dashboards, two, a custom report builder called Explorer, And three, automated exports into your own BI tool.

Our interactive dashboards are pre built reports that provide e performance metrics displayed through charts, graphs, tables, and more.

Explore provides customizable reports that pull and visualize preferred recurly data, including transactions, accounts, credit card details, and much, much more.

Exports are preconfigured reports that can be automated, containing raw recurly data for deeper analysis or integration into your own BI systems.

Within our dashboards, you'll see that data, you'll see the data as snapshots, comparisons, rank, and now benchmarks, which will help you gauge your performance against similar companies to help prioritize strategies and initiatives to improve the health of your business.

When you or your team are looking at subscription APIs, how often do you ask, is that good?

How does that compare to the industry?

How are our peers or competitors performing?

What's a realistic goal to drive for?

These questions and more can now be answered with our new built in benchmarks.

Recurly is the first subscription platform with built in benchmarks. These benchmarks answer critical data questions and deliver valuable benefits.

In addition, it'll help you act as a KPI barometer, help you identify and prioritize your strategies, and guide your decisions with data.

Now let's learn more about the different benchmarks that are now available and a live demo of what you'll see in your Recurly account. Take it away, Eric.

Thanks, Luck. Let's take a deep dive into the new benchmarks.

Recurly will offer a total of eight benchmarks that allow you to understand how your business is performing, starting with subscribers acquisition rates and sign up decline rates, to how your renewal invoices are performing, as well as recovery of invoices that enter Dunning, and finally onto your churn rate. Let's look at a specific example.

Here in this example, this is a screenshot of our subscriber benchmarks dashboard. The new benchmark dashboards are based on the performance rates of specific sites displayed as a percentile calculated by their site performance against a variety of benchmark metrics. It features a line graph that shows their performance trend across a specific timeline adjustable by the date range, displays customer benchmarks versus the industry median and top and bottom quartiles for other customers within their industry.

It allows customers to change their default industry within the analytics settings page, but please note that changing this will nullify your percentile and require a day to be updated and reflected.

Let's look at a live dashboard example.

Within the app today, we see that we have our renewal invoices and the renewal invoice paid rate benchmark, where you can see we have the percentile of the performance rate calculated against the site performance against a variety, against other merchants in that industry, features a line graph that shows the performance trend across the specific timeline, displays the customer benchmarks against the industry median, top and bottom quartiles, and you can also change your industry.

This is an example of the benchmarks that are currently in the app and looking ahead, we have other examples of acquisition rates and churn rate as well as churn rate broken down, overall churn rate, involuntary churn rate, and voluntary churn rate. These benchmarks will allow you to monitor your business across the entire subscriber acquisition lifecycle from acquisition to sign ups to renewal invoices to dunning and churn.

There are many teams that can benefit from these built in benchmarks.

Based on our conversations with recurring merchants, marketers, customer service representatives, data and financial analysts are the most mentioned groups and roles that may have the deepest appreciation of the new benchmarks and dashboards as they'll be able to benefit from the following. It can compare key subscription metrics with industry benchmarks to understand performance relative to peers, identifying areas of strengths and weaknesses, gain insights into how competitors are faring in terms of subscription metrics, uncovering areas to differentiate and improve to gain a competitive edge, make informed decisions with real world data to help set realistic goals and expectations for subscription growth and customer retention.

Enable a more accurate forecasting and long term planning to help businesses set reachable growth targets and allocate resources effectively.

Based on the demo we just provided, we hope these benefits resonate with you.

And now back to you, Lach.

Thanks, Eric, for the benchmark details and demo. If you haven't done so already, please check make sure to check out our twenty twenty four status description report. It offers exclusive benchmarks and trends for more than sixty four million unique subscribers and twenty two hundred global brands using Recurly, including Paramount plus, Sling TV, FabFitFun, Sprout Social, and more. The report contains benchmark data on acquisition, retention, churn, and payments, valuable insights into subscriber preferences, and data driven predictions about the most profitable investments in twenty twenty four.

If you're interested in learning more about built in benchmarks or how we currently can help grow your subscriptions, please reach out to us.

And that's it. Thanks for viewing, this video. We hope you found it valuable and look forward to sharing more product updates soon. Bye.