How Customer Event Data Contributes To Your Bottom Line
August 5th, 2014
Although any business can and should use events for a variety of reasons, one of the most important is to determine which events lead to more revenue. You likely find yourself asking how to encourage users to upgrade, and what events lead to those upgrades. We can then ask questions like “what kinds of customers are creating new projects in my app” or “do enterprise customers add more team members to their projects than customers on personal plans”?
What kinds of customers are creating new projects?
To learn how to combine your data in DataHero click here. The rest of the post will assume you’re working with datasets that have already been combined in DataHero.
Using information from the Stripe Customers and Invoices report, plus a specific event report from Mixpanel allows us to see how customers interact with an event in your app broken down by customer plan.
In the example above, we can see that business customers are starting to create the highest number of projects. This could affect future app development, or even be helpful for the marketing department to know, as this may help with messaging.
View how certain customers behave:
In addition to looking at how users react to a certain event broken down by plan, we can look at characteristics of users overall broken down by plan based on the People report from Mixpanel. The example below shows how many Enterprise customers export projects over time:
Which properties have the largest impact on revenue?
Because Mixpanel allows you to create custom properties associated with each customer, you can analyze how these properties contribute to your revenue. For example, do customers who register for a webinar tend to register for an account with your service?
Using the property from Mixpanel and the registrations from Stripe in the example above, we can see that users who registered via a webinar grows consistently from month to month. This can help in making business decisions about how to allocate resources to building up the webinar audience, for example.
Merging data from a payment service and insight from customer behavior allows us to see what they find most valuable in the product, and thus encourage upgrades. Give DataHero a try to merge your customer event data with your payment data to get the answers you need to your revenue and event questions.