Tuesday, October 21, 2014

Tracking Monthly Recurring Revenue from Stripe

One of the key metrics for a subscription based business is Monthly Recurring Revenue (abbreviated as MRR).  For businesses using Stripe for payment processing, this metric is not reported directly by the Stripe dashboard, so tools such as Baremetrics are popular for tracking metrics such as MRR.  However, this doesn't help address the challenge of siloed data that's hard to integrate with your other key business metrics.

Just the Facts now supports tracking MRR and another key metric, Average Revenue Per User (ARPU) from Stripe.  This post will step through the subscription process.

Once you have logged into the Just the Facts and downloaded the Chrome browser extension, login to your Stripe account and navigate to your Stripe Dashboard.  You can then click the Just the Facts extension ( ) in your browser toolbar to activate it.

You will be presented with a dialog to select the facts to subscribe to:
Subscribe to Sripe Metrics
(This example shows the Stripe Test Dashboard, but you should be sure to subscribe to your Live Dashboard).

Select the "Monthly Recurring Revenue" and "Average Revenue Per User" checkboxes and click "Subscribe".  You will now be prompted to enter your Stripe API key.
Enter Stripe API Key
To find this key value, click the "Where is this?" link and you'll be taken to your list of API keys.  You'll want to enter the value for the "Live Secret Key".

Your Stripe metrics will now be added to your Just the Facts dashboard and will be updated every day by default:
ARPU and MMR metrics
You can also choose to be alerted on these metrics.  For example, if you click the "Set Warnings" icon on ARPU:
Set a Warming
you can then select the "Increase" radio button and enter "20" into the percent field.  This will generate an email alert if the ARPU ever decreases by more than 20%.
Warn if ARPU Decreases by > 20%
You may also wish track this value on a weekly rather than daily basis, since it is unlikely to change that significantly from day to day.  You can do this by clicking the "Details" tab, changing the "Refresh Frequency" to "Weekly", then clicking the "Save" button.
Changing the Subscription Frequency
By default, the Stripe metrics will also be included in your daily email report:
Daily Email Report

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