There are several ways in which you can calculate the long term value of your Leads depending on what you want to see and what questions you need to answer.
As you may notice, some of these reports may overlap in functionality, and you may be able to use more than one report to answer the same question.
For example, you can use both LTV for sources and LTV for a segment to find the average LTV for a single specific source over a specified range of time.
However for this purpose, the LTV for sources report is much better suited to view the average LTV for all of your sources in one place, that way you can easily compare your LTV across your whole marketing stack.
Please review the documentation below to understand how each of our reports work so you can calculate your long term value and answer deeper questions in the easiest way possible:
PLEASE NOTE: This report type is not available for all customers.
How does Cohort Analysis Work?
Cohort reports allow you to compare different audiences that came into your system over specific timeframes and compare different long term stats. For example, you can compare all leads that came into your system in June vs July and compare data such as revenue, sales and LTV over time for each group.
At its most basic level, you can simply select the time interval to view your data by (day, week or month) and then select the date range to view long term stats for all leads who joined within the selected date range.
If you want to dive even deeper, you can use the filters to group the leads even further. For example, if you want to filter by all leads who came through during the specified time frame and booked a call, you can add the “$call” tag to the “filter leads with tag” filter.
How First Click LTV Tracking Works
First click LTV tracking works by taking all the customers that FIRST CLICKED during the time period you select on the REPORT BOARD
For example if set the dates to Feb 1st to Feb 15th last seen would collect all the customers that entered your business during that time frame.
It will then organize them by source.
So for example if a customer clicked @facebookad1 on Feb 3rd and it was their first tracked interaction they would be credited to @facebookad1 on the REPORT BOARD.
HOWEVER : If they clicked BEFORE or AFTER Feb 15th they would not be factored in on this board.
Next : First Seen mode will attribute ALL sales from these users to the current date and attribute the sales to the original source.
This allows you to answer a question like :
“I spent $20k on ads in January, 8 months ago. How much more money have the customers from those ads spent over the last 8 months?”
If you find this confusing use the video demonstration below.
Please note the LTV date range in our First Click LTV report settings only affects the LTV metric, additional stats present in the report show all data from the First Click event up to the moment when the report is generated.
Please note that by default this report will use leads, including leads who did not purchase, to calculate the average LTV.
If you want to see the LTV of customers only, excluding leads who did not purchase, please select “exclude leads without sales” in the advanced option of the report as seen here:
LTV for a segment mode will calculate the average value of a specified group of leads over a pre-determined timeframe.
For example, if you choose to calculate the LTV for a 6 month period, Hyros will calculate the average value of your leads over that length of time. At it’s most basic level, if you do not use any further filters Hyros will calculate the LTV of ALL of your leads, but you can segement a specific group of leads who performed a specific action to find out the average LTV for that specific group of leads during the selected timeperiod.
All of this allows you to answer questions such as:
“How much should I be spending on my leads in general to make a profit in the long term?”
“What is the average LTV from customers who opted in via a specific page?”
“What is the LTV of customers who have bought X product?”
“How much should my cost per sale be for my front end product, in order to make a profit in the long term?“
How LTV for Sources Mode Works
LTV mode will calculate the average value for your leads coming from a particular source over the selected timeframe.
For example, if you choose to calculate the LTV for a 6 month period, Hyros will calculate the average value of every lead coming from each of your sources over that length of time. It will then by default group these into traffic sources so you can easily see which sources are the most profitable over a exended period of time.
You will also be able to see your total leads (how many email events were tracked by hyros within the selected time frame) and total sales (how many purchased were made by a lead within the selected time frame).
At the top of the report, you will see a visual graph where you can view the LTV for your top 5 results.
All of this allows you to answer questions such as:
“how much do my leads spend on average from X traffic source over a certain time frame?”
“how much should I be spending on my leads to make a profit in the long term?”
If you have any unique use cases and you are not sure how to best utilize these reports, please reach out to the support team.