Introducing the New LaterPay Analytics Dashboard
If you happen to have logged in to your Merchant Account recently, you’ll have seen that your Analytics Dashboard has undergone a significant upgrade.
Assuming you have used the original LaterPay dashboard for any length of time, you will be familiar with the valuable - but limited - insights it had to offer with regards to performance and conversions. As part of our ongoing commitment to helping you dive deeper into the data behind your LaterPay integration - and utilize that information to improve your conversion rates - we have now greatly enhanced those capabilities. The new Dashboard, which runs off the Periscope engine, offers a streamlined interactive UX, expanded customization and increased security, while also providing greater data visualization and transparency.
By leveraging Periscope as the Dashboard engine, we have dramatically increased the ability to easily customize dashboards and present data in a simple, visual format that gives you an immediate snapshot of the performance metrics that matter to you. Rather than exporting your data and leveraging pivot tables in Excel to pull out the relevant numbers, you can now do this directly in the dashboard itself - so you can focus on your business, not the tools behind it.
The dashboard starts with earnings, which you will already be familiar with, setting out when you can expect your next payment based on user activity and summarizing the current status of payments. The dashboard is then broken out into four areas, with your data represented visually and cleanly in an easy-to-understand format. Let’s take a look at each of those sections in a bit more detail:
This is the overview of the entire universe of purchases that your customers have made, including revenue model and revenue generated.
Broken out by the different revenue models (Single Purchases, Time Passes and Subscriptions), you get an immediate snapshot of content that has been purchased during the defined time period. As ‘purchased’ content includes that which the customers have actually paid for, and that for which they have promised to pay for once they hit the $5 threshold, we show you both the Total Revenue (paid + promised) and the Total Paid Revenue (money in your pocket!).
This serves as a snapshot of what your customers have purchased, and how they purchased it.
Here we break out the top ten pieces of content that were purchased in the defined time period and tie them to the corresponding revenue generated. We also provide an overview of how your customers are purchasing content overall - as Contributions, Single Articles, Time Passes, or Subscriptions. The goal is to help you better understand what kinds of content best resonate with your audiences - and how they access that content - so that you can customize your monetization strategy and continue to improve performance.
Understanding content and performance are two key components, but the third is equally important - understanding your customers themselves.
Here we break down who they are, looking at the total number of unique customers, where they are in the LaterPay process (have the registered or are they still waiting to hit the threshold) and their place in the conversion funnel (how they are interacting with the different products you are offering). The goal is to enable you to better understand your users, their preferences, and their performance overall.
Our last section gets into the heart of revenue generation, so you can quickly understand how your monetization strategy is performing.
Here we provide a visualization of your running tab, where you can immediately see how many invoices your have open, how much revenue has been promised, and how far those invoices are along. This demonstrates how well - and how quickly - the Pay Later commitments are converting into actual revenue, in turn improving your forecasting models - particularly as you continue to optimize your content and monetization strategies.
To summarize, the Dashboard has been redesigned to remove as much of the guesswork as possible, presenting information simply and clearly in strong visuals while still enabling you to fully customize the data as needed. We hope that this will go a long way to address your top questions about partnering with LaterPay:
- How is my site performing?
- What’s selling, and what is not?
- How are my customers interacting with my content?
- How should I adjust my pricing and content strategies?
But don’t take our word for it - check out the new dashboard for yourselves and let us know your feedback!