Whether you're selling digital goods or a physical product, you'd probably like to be able to track your subscribers' lifetime value (LTV). Drip makes this easy to do.
We'll cover the different ways that you can automatically update your subscribers' LTV, and how you can use that data to create hyper-specific subscriber segments, based on a specific LTV criteria.
In this article:
- Viewing a subscriber's lifetime value
- Updating subscriber lifetime value
- Segmenting subscribers by lifetime value
First, let's take a look at where you'll find an individual subscriber's LTV.
To do this, go to the Subscribers tab and select the first individual subscriber you see on your list:
Once you've selected a subscriber, you'll get redirected to their activity timeline.
In the sub-nav for the subscriber, select the Properties tab and you'll see the subscriber's Lifetime Value field under the General Info tab:
Note: You may see a zero balance for this value if you aren't currently using any Drip features or which automatically update this value (we'll cover all that in the following section).
In addition to viewing that data under the subscriber properties, you'll also see that Drip records an event each time a subscriber's LTV is updated.
You can view this event on the Subscriber Timeline:
You'll also notice that there are a few different event properties included with that event. The value property is the amount of the update displayed in cents. The previous_value property is just as you might think it sounds, the value before its most recent update. The source property is the means by which the value was updated. In this case, Drip was the source of the update.
Now that you know where to find an individual subscriber LTV, it's important to know how you can keep that data up to date.
There are a few different ways that Drip is able to update the LTV of your subscribers:
Drip's Conversion feature automatically updates the LTV of your subscribers each time it is triggered. As long as you've added a Default Value to your conversion, it will increment the subscriber's LTV by that amount.
Here's what that would look like when setting up a conversion.
E-commerce and digital payment integrations
Drip has many different e-commerce and payment processor integrations that will automatically update subscriber LTV.
Learn more about these types integrations by clicking each link:
In fact, those integrations will automatically send in a value any time a subscriber triggers a purchase.
Via CSV file
When you upload a CSV file to import or update your subscribers, you can use the lifetime_value field to add a value to that field.
Now that you understand how to update your subscribers' LTVs, you'll really find it useful to be able to segment your subscriber list based on LTV.
To do that, go to the Subscribers tab and you'll notice the Subscriber Filter can be set to filter by Lifetime Value:
You can select from a few different parameters in the filter's second drop-down:
Then, you can manually enter a specific LTV amount you'd like to filter your list by:
Finally, click the Refresh button to return a segment of subscribers that hold the data you've set as your filter criteria.
Now that you understand how Drip's lifetime value works, you can start sending better-targeted emails to your subscribers with commonalities in their LTVs.