Introducing Mixpanel Revenue Analytics: Bringing dollars to dashboards

Product teams rely on Mixpanel to analyze 22 trillion events yearly to understand user behavior in their product. But what about understanding product impact on the bottom line?

Too often, these teams don’t have access to data for strategic decisions because their most critical datapoints, revenue metrics, live in a separate tool. This silo creates a lose-lose workflow of bugging the data team, ultimately slowing product teams and making it hard to connect decisions to revenue ups and downs.

Starting today, you can get the whole view in Mixpanel of exactly how your product efforts are impacting your revenue. No more data silos, no more guesswork.

In this blog post, we'll walk you through what’s changed, why we built it, and what it unlocks for you.

The first and biggest obstacle to understanding revenue impact is access to the data. While you might have a product analytics tool, your product data is typically siloed from revenue data, which lives in the data warehouse. You can either ask the data team to query the warehouse to answer your questions, or you can bring revenue data into Mixpanel for fast, self-serve analysis.

Historically, it’s been difficult to bring revenue data into product analytics because unlike events, which capture a moment in time, revenue data is fluid. It constantly changes, from plan upgrades to fraud reconciliations, and your analytics tool needs to accurately reflect those changes.

Our new Mirror and Profile History releases for Warehouse Connectors ensure Mixpanel stays in perfect sync with your warehouse data so that you have a trustworthy foundation to make decisions.

For companies with purchase-based business models—i.e., ecommerce and financial services—Mirror mode ensures data in Mixpanel will always match the most up-to-date value in your warehouse, incorporating any changes such as chargebacks, refunds, or cancellations. For example, if you want to understand the impact of a promotion with a generous return policy, you can answer this question in Mixpanel without any workarounds or double-checking if answers match your source-of-truth.

In addition, subscription-based business in spaces like SaaS or media can now properly and easily ingest recurring revenue for analysis thanks to Profile History. Traditionally, product analytics solutions have struggled to accurately represent this data since recurring revenue requires a combination of both event-based tracking (e.g., when a user signs up for a subscription upgrade) and state-based tracking (e.g., what the MRR from a user is at any given time).

“When we are considering new features, we always need to go back and look at past historical data to understand how users performed while they were categorized in different segments so we can better personalize the experience for users… Mixpanel helps us fill that gap better than other reporting tools could.”

The change that Profile History brings marks a big shift in our data model that enables you to analyze users' behavior based on their revenue at any given point in time. With complete historical data, you can ask questions about how a feature launch impacted upgrades or how users have behaved prior to upsells or downgrades.

Once you have access to accurate revenue and product data in one place, the next step is being able to easily answer your critical business questions.

Historically, Mixpanel has made it easy to dig into product data by automatically calculating key product metrics like daily or monthly active users (DAU, MAU) or average frequency per user of an action.

We’ve introduced new revenue metrics so that you can easily explore this data alongside product interactions, without complicated custom formulas or manual calculations.

Companies with purchase-based revenue can now calculate key metrics like average revenue per user (ARPU), lifetime value (LTV), and return on ad spend (ROAS) directly in Mixpanel.

And with our two revenue type templates, we make it easy to pull up all the more business-specific leading indicators underneath.

Companies with transaction-based revenue models can get answers in just a clicks with our Ecommerce template. Dive right into:

For subscription-based businesses, like B2B or media, you can analyze users or accounts based on recurring revenue using ARR metrics in our SaaS revenue template. Segment your analysis by key subscription changes to uncover insights like:

If you haven’t already connected your data warehouse to Mixpanel with our Warehouse Connectors, it takes less than 20 minutes to get set up. After that, you can choose one these templates when creating a new Board in to start getting instant insights.

Kickstart your journey in understanding the impact of your initiatives on revenue with our latest data model advancements and new revenue metrics and business-specific templates.

For a peek at what it all looks like in action in Mixpanel, be sure to explore our public Revenue Analytics demo Boards for Ecommerce and SaaS.

If you’re excited to dive deeper into what’s possible, get in touch with our team for a personalized demo.