Overview

Required plan

This feature or setting is available to all customers on any Recurly subscription plan.

Prerequisites

Users must have analytics user role permission.

Definition

The renewal benchmarks will provide insights on your overall renewal invoices as well as provide detail into the decline reasons for renewal invoices.

Key benefits

Industry comparison: Compare key subscription metrics with industry benchmarks to understand performance relative to peers, identifying areas of strengths and weaknesses.
Competitive insights: Gain insights into how competitors are faring in terms of subscription metrics, uncovering areas to differentiate and improve to gain a competitive edge.
Informed decision-making: Make informed decisions based on real-world data to help set realistic goals and expectations for subscription growth and customer retention.
Forecasting and planning: Enable more accurate forecasting and long-term planning to help businesses set reachable growth targets and allocate resources effectively.

Key details

General filters (Top left corner)

Date range: Allows you to adjust the time period for your benchmark comparison, with a standard setting of 14 months. This helps you track performance over an extended period.
Industry: Shows benchmark data tailored to the industry you select, providing more relevant insights.
Timeframe: A fixed filter set to a monthly overview of your benchmark metrics, offering a consistent analysis period.
Subscriber type: This filter is locked to “Paying Subscribers,” focusing your benchmark comparison on subscribers with at least one paid invoice.

Renewal invoice benchmarks

The Renewal Invoices Benchmarks offer insights into the performance of renewal invoices, both those that are successfully paid and those that fail on the first transaction attempt.

Your ranking in this area is presented as a percentile, comparing your performance to that of peers in your industry. Monitoring your percentile trend over time can provide valuable insights into how your renewal strategy performs relative to the broader industry standards.

Renewal invoice paid rate calculation

This calculation shows the percentage of renewal invoices created within a certain period that are successfully paid (marked as "paid") out of the total number of renewal invoices issued.

Example: In April, if 1,000 renewal invoices are issued and 750 are paid, the initial paid rate is 75%. If, after two weeks, another 150 invoices are settled following dunning efforts, the revised invoice paid rate reaches 90%.

Calculations are based on the “invoice creation date” to ensure consistency.

Renewal decline rate calculation

This calculation shows the percentage of renewal invoices that are not successfully paid on the first attempt.

Your position within your industry is represented as a percentile, showing where you stand compared to others. Tracking your percentile over time helps you understand how your renewal process compares and evolves in the context of your industry.

Initial transactions: These are the very first attempts to process a payment on an invoice, highlighting the importance of the initial interaction.
Reason for focusing on first transaction: This approach ensures a fair comparison across businesses, regardless of their policies on retrying invoice payments. It's about ensuring consistency and comparability.

The evaluation period is determined by the date of the initial transaction on the invoice.

FAQs

What is a Renewal Invoice?

A renewal invoice refers to an invoice that is issued as part of a subscription's regular renewal process. This includes any invoices that are generated at the set intervals following the initial signup or the first invoice after a trial period. Essentially, renewal invoices represent the recurring billing aspect of a subscription, excluding the initial acquisition or trial conversion invoices.