As we wrap up the year, we’re happy to announce a new set of features and updates to our product that kept us hard at work this fall. You’re sure to have noticed some of these already, but let’s take a quick look at what’s new:
Featured Improvements
Daily email reports
This was our top feature request - a daily report of your P&L metrics sent straight to your inbox each morning. If you haven’t set this up yet, click Settings > Email Reports, enter the email addresses of anyone you’d like to receive the report, and tick the “Daily Report” checkbox.
Faster load times and more reliable data
This isn’t our most exciting update, but it might be the most important: the app now has a much-improved infrastructure to speed up processing times on your reports and to withstand the madness of days like Black Friday. Larger brands especially should notice much quicker load times, and all users will see more accurate and reliable data.
New Integrations
We added integrations with the three most requested platforms (with more soon to come!). You can set up each of these from the “Cost Data & Integrations” menu in the top-right of your screen:
Recharge - Allows brands with subscription models to run cohort analysis on subscribers. (After integration, reports can be accessed in the “Subscriptions” tab in the top banner.)
Microsoft Ads - Pulls your Bing ad spend and factors it into your marketing costs (because Google and Facebook aren’t the only two PPC platforms!).
TikTok - Pulls your TikTok ad spend for marketing cost calculations.
Stay tuned for more integrations early next year, and don’t hesitate to email us at hello@lifetimely.io if there’s an integration you’d like to see!
Other Improvements and Updates
Customer Acquisition Cost (CAC) added to the LTV report. When you run the LTV report, you’ll now see a column marked “CAC”. This is a rough estimate of your front-loaded customer acquisition cost for each cohort, useful in determining CAC payback time (how long it takes to break even from a new customer acquisition) and in measuring CAC/LTV ratios.
Cohort Sales now a metric on the LTV report. This one’s for the CFOs out there. LTV reports using the Cohort Sales metric break down total sales volume for each cohort, which should help with your financial modeling. And since many of us financial types are wired to think in terms of quarters, you can now divide cohorts by quarters instead of by weeks or months.
New filters added: order tags and discount codes. This one took us a while but we finally got there: you can now filter your reports to include/exclude orders with a given tag (Note: tags must first be assigned in Shopify) or to select customers who applied a given discount code to their order. This was a widely-requested feature that opens up all kinds of applications, such as measuring the effectiveness of an influencer, analyzing customers who returned their first orders, etc.
New prefilters added: order tags, customer tags, and sales channels. If you find yourself manually cleaning the same data or applying the same filters to each report, these new prefilters allow you to customize new ways to remove outlier data from your reports.
Shipping costs can now be set by country. To our dropshipping community - we haven’t forgotten about you! As requested, if your shipping costs vary by country, you can now capture these distinct values in the Shipping Costs tab (under the “Cost Data & Integrations” menu).
What’s next?
If there’s one thing we learned in our first year of operations, it’s that building an app the right way takes lots of time and plenty of trial and error. We have an endless list of product improvements and feature requests that we’ll always wish we could ship to you sooner. That being said, most of our focus lately has gone into an exciting set of LTV features that will form a brand new “PLUS” plan… and we think you’ll be excited about it too. So stay tuned!
