Scale your business with the new LTV Report!
You can now easily get customer lifetime value data on a product level with your new LTV report! Instantly see exactly what your customers are worth 1/60/90 days after buying. This report can help you better understand how successful you are at selling your products immediately and how much more revenue you are generating from those customers over their lifetime.
Continue reading to learn more about this exciting new report!
LTV Report
To access the LTV report, click on the Analytics tab in the left-hand navigation bar and then click on LTV.
There you can begin learning more about your LTV data!
LTV, which is short for Life Time Value, is defined as the total revenue a business has earned from a customer over the entire relationship. This report explores LTV at different internals, including the lifetime value of a customer 1 day after they purchased, 7 days after they purchased, 65 days after they purchased, 90 days after they purchased, and total LTV.
AOV, which stands for Average Order Value, is the average amount spent per order by customers.
To explore LTV and AOV data for your products, you’ll first need to add products you’d like to see more information about. To do so, begin typing in the Add Products or Tags to bring up a selection picker. You search by product name, product ID, or tags here.
Once you’ve added in a product or multiple products, lifetime value of your product(s) will appear in the report:
You can then switch between the Day, Week, Month tabs for your LTV data!
It is important to note that the report will default to data from the Last 30 Days. You can adjust this by clicking in the Showing Data dropdown:
You can add one or as many products as you’d like to analyze the total revenue customers have generated.
To reset the report to its blank state, you can click on the Reset Report button at any time!
Frequently Asked Questions
Q: Why are my AOV and LTV values so much lower than my Net Revenue values?
A: AOV (Average Order Value) and LTV (Lifetime Value) are average values per customer, whereas Gross Revenue and Net Revenue are total revenue amounts for any customers/sales acquired over the stated time period.
Q: Why is my AOV or LTV so much higher than the price of my selected product?
A: There are a few reasons this might happen! If you are successfully upselling other products with the primary product in your customer's first order, if you sell recurring subscriptions, or if your customers make additional purchases after their first order - all of these charges will count towards your LTV. This can make the LTV per customer higher than the price of the initial product they bought.
Q: What determines a "unique" customer?
A: The LTV report will include data for any unique customer. In this report, a customer email is used as the primary way revenue is matched back to a particular customer - so each email within the system is a "unique" customer!
Q: I filtered the LTV report for a specific product that I know has sales, but the report is not showing any data. Why is that?
A: When you select a specific product to filter the LTV report by, the report will only return data if that product was the first product a customer bought on their first purchase. This means that, for example, if you are selling Product A as the primary product and Product B as an upsell, Product B would not not show up in the LTV report because it's counted as extra revenue for the purchase of Product A. In other words, the LTV report works best when used to analyze the products you offer your customers as front end offers!