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In addition to calculating subscription data and metrics, Baremetrics also monitors important customer events like upgrades, downgrades, cancellations, and more. With Baremetrics, it’s never been easier to know your customer’s history with your business.
This article explains the customer events we track, and how you can view them in Baremetrics and Slack.
Tracking Customer Events in Baremetrics
The Baremetrics Control Center features essential metrics, as well as a breakdown and live stream of customer events.
Let’s take a closer look at the live stream, where customer events are shown as they happen in real-time.
Don’t worry, these aren’t real customer names. The numbers, though, are totally real. Check out our Live Demo!
You can filter the live stream by the following events.
Let’s discuss each event in a little more detail.
New Customers
New customers are customers who either signed up or converted from a free trial.
Upgrades
Upgrades are customers who have upgraded from one paid plan to a more expensive paid plan.
Switches
Switches are customers who have changed plans.
In the case of a customer moving from one plan to a less expensive plan, the switch will be considered a downgrade. Keep reading for more information about downgrades in Baremetrics.
Charges
Charges are payments your customers have made. Hooray!
Failed Charges
Failed charges are counted when your payment provider attempts a charge and is not successful.
Failed charges are usually the result of credit cards with unresolved issues.
These issues include:
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Incorrect card information
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Expired or maxed out
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Reported as lost or stolen
Failed charges can lead to churn and dramatically impact your business’s MRR.
Fortunately, you can get ahead of failed charges and beat churn with tools like Recover by Baremetrics. Start a free trial today.
Downgrades
Downgrades are folks who are still customers, but are paying you less money on a monthly basis than they did previously.
Here’s an example of a downgrade:
Many SaaS companies offer a discount for moving to an annual plan. Because the average monthly amount of an annual plan is lower, this is considered a downgrade (though in the grand scheme of things, a great thing for retention).
Refunds
Refunds are cash amounts that you’ve returned to customers.
We don’t expect refunds to be recurring, so these values do not alter your MRR.
Get Baremetrics Events in Slack
Baremetrics integrates with Slack to bring you updates within the Slack app.
After connecting your Baremetrics and Slack accounts, simply choose which metrics you want updates on, and how often you want to see them.
And if you want to retrieve specific Baremetrics data without leaving Slack, you can do so with the command: /baremetrics [interval] [metric]
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Interval refers to the duration of time (daily, weekly, monthly).
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Metric is any of the 26+ metrics we track in Baremetrics
Here’s what a command for a monthly report of active trials looks like!
Conclusion
Baremetrics monitors customer events to help you keep a pulse of what’s happening in your business in real time.
With Baremetrics and tools like Recover and the Control Center, you can stop guessing and start knowing how to grow your business. Don’t wait, start your free trial today.
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