The Revenue feature is available only in the Enterprise Edition
The Revenue feature enables you to track revenue for specific events in real-time. You can identify which events are providing you with the most and least revenue, monitor revenue generation trends, and follow key revenue-related insights.
The Revenue feature is dependent on the Events feature. In order to track revenue generation from any Event, you need to first set up an event, followed by a revenue event (the event type for which you want to track revenue generation) and generate a Revenue Event Key.
Benefits of Revenue
The Revenue feature is extremely beneficial in understanding how your application is generating income, which items are providing greater revenue, which items are less popular, and to obtain valuable insights about your user's purchasing preferences and habits.
To start using the Revenue feature, you need to undertake the below steps:
- Create at least one Event: Ensure that you have set up at least one Event and are sending Event data from the SDK. The Event has to have a sum value attached to it as this is the value used to calculate revenue and retrieve payment data. Click here to learn more about how to set up Events and their properties, including sum.
- Enable the Revenue feature: Go to Management > Feature Management in the Sidebar, and enable the Revenue feature toggle.
- Select Revenue Event(s): in the Sidebar, go to Management > Applications > select the relevant application from the list > App Settings > Revenue and select the Events for which you want to track revenue. These are your Revenue Events.
The Revenue feature does not collect data retroactively (i.e., before the time that the Revenue Event is defined and the feature is enabled). So Revenue details and user numbers will only become visible once the revenue event is set and the Revenue feature is enabled. For this reason, we suggest that you set revenue events and enable the Revenue feature right from the time your application goes live.
The Revenue feature allows you to track the revenue generation of your application and your users' buying behaviors. The metrics you can monitor through the Chart and Table are as follows:
- Timeframe selector to choose the period analyzed for Revenue generation.
- Revenue: Revenue is generated through your application purchases by your users.
- Average Revenue per User: It is calculated as Total Revenue / Number of Total Users (including paying and non-paying users).
- Average Revenue per Paying User: It is calculated as Total Revenue / Number of Paying Users.
- Paying User: The total number of your users generating revenue through your application purchases.
- Paying/Total User: It shows the percentage of users who performed Revenue Events in the selected period.
- The 3-dots ellipsis menu opens up the Settings for the application for which you will use the Revenue feature.
The Revenue feature View is divided into two parts in which you can monitor the above metrics:
The Chart shows the trend line for the selected metric, including the previous period data (period equivalent to the selected period and just before it). The highest and lowest revenue points are highlighted. You can hover on the graph to see the maximum revenue generated on any date. You can select what data you want to see by selecting any of the metrics on the top of the page, and the time period from the dropdown at the top left corner of the page.
The Bar Graph shows you all the Revenue metrics for the selected time period. You can select the time period from the dropdown at the top left corner of the page. The Bar Graph can easily be exported by any user with a minimum permission level of 'Read'. You can also search for specific data in the Date and Revenue columns of the table.
The data is also represented in the following view:
- You can customize the view by adding the columns that you want to check for.
- To add, or remove columns, you can use the Navicon menu.
Currently, the Revenue feature does not support automated currency conversion, and this conversion needs to be undertaken at the client's end. Several online converters suit this purpose so as to ensure that any revenue data retrieved in other currencies is easily converted to a reference currency (specifically, USD) before sending data to Countly.
You may see metrics related to this Feature in:
- Home: Revenue metrics are visible on the Home page.
- Crashes (Errors): The Revenue Loss (due to any crash/error on your app) metric is visible in the Crashes (Errors) feature and is handled by the feature itself. Hence, if any changes are made in the database for Revenue, the Crashes feature developers must be informed.
If, for whatever reason, you are unable to see revenue data on your Homepage in spite of following all the steps mentioned within this User Guide, please check the following:
- Revenue data is gathered from the sum property of an Event. Make sure that you have provided data about the value of transactions using that property via the SDK.
- Revenue data is not retroactive. This means only new data that is incoming after setting up Revenue Events and enabling the Revenue feature will be counted toward revenue data.
- Countly Funnels: Complement Revenue analysis with Funnels to better understand the customer journey towards conversion.
- Countly Crashes: Know exactly how crashes and errors impact your overall revenue.