You’ve probably noticed some changes in your Lifetimely account over the past couple months, and we’ve just gone live with more new features this week. Here's a closer look at the major updates for each new plan:
After a Beta release of new multi-store functionality a couple weeks ago, all users can now add multiple Shopify stores to the same Lifetimely account. We also just went live with a new consolidated view that gives you a combined P&L for each store you've connected.
To see the consolidated view or toggle between each of your stores, just click on the new "Store" drop-down menu in the left sidebar. (And if you haven't linked any other stores yet, you can get started by clicking “+ Add another store” in the Multiple shops tab of your Settings). Just keep in mind that each store you track will still be billed as a separate subscription as before.
Keep an eye out for new multi-store features and integrations in the pipeline!
Many of you have already tried out the new Income Statement, which you can access via the link at the top right of your dashboard.
The Income Statement provides a much more thorough breakdown of your P&L metrics than your Profit Dashboard. It includes a much longer list of metrics (including figures that VCs are most likely to ask for) and offers better visibility on daily, weekly, and monthly trends.
This report is our first step towards more sophisticated financial modeling and planning, with new metrics, plug-ins, and features on the way. If you have feedback on anything else you’d like included, we’d love to hear it!
The new Product report (which you can find under the Profit & Loss drop-down menu in the left sidebar) takes your P&L data and sorts it on a product-by-product level. Though it won’t give you the same level of insight into product performance as the LTV report, tracking the sales velocity of each product can still help with inventory management, financial planning, and identifying broader trends in your sales data.
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LTV projections now come with two more metrics: accumulated gross margin per customer, and accumulated gross margin per customer / CAC. Accumulated gross margin per customer is our recommended LTV metric (assuming accurate cost data) because by focusing on a profit measure vs a revenue measure, CAC payback assessments become easier and more reliable.
The Repurchase rate breakdown report now allows you to analyze repurchase rates based on any customer and/or order tags you assign in Shopify. You can also compare repurchase rates between any discount codes used on first orders.
And for breakdowns by product, product type, and country, we've addeda new column showing you the average time between orders.
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As always, though we’re already at work on plenty of new improvements, we would love to hear any ideas on how we can make Lifetimely more useful for you. Just email us at hello@lifetimely.io with your suggestion!
