6 Profitwell Alternatives You Should Try TODAY
Digital analytics tools are crucial for SaaS companies: by collecting and reporting data about performance, these tools help businesses take action and optimize their services. Subscription management and analysis platforms are one type of digital analytics tool, and Profitwell is one of the brands that is designed for their purpose. A metric tracking subscription software, Profitwell has most of the necessary features, including acquisition, revenue, and engagement metrics, data segmentation, ROI analysis, and more.
However, there are several alternatives to Profitwell that cater to the same needs, but with different features, pros, and cons: in this article, I’ll talk about six of them. Be sure to consider all of them before settling on Profitwell, or any other tool similar to it.
HockeyStack is an end-to-end SaaS attribution and analytics tool used by over 7000 companies.
Unlike most tools in this list, HockeyStack can give you a complete breakdown of your revenue, enabling you to understand which channels and pieces of content are most profitable. With automatic data extraction, a no-code interface, and integrations to numerous sales and marketing tools, HockeyStack unifies inter-departmental data to give you the complete picture of where your SaaS stands.
Let’s take a look at HockeyStack in action.
Here, you can see a report detailing which pieces of content have the highest MRR, allowing you to create more of the content that your audience loves.
You can also find out which channels are the most profitable for your business:
And even create comparison charts to see how your revenue has changed with time due to both churned customers and expansions.
The best part about HockeyStack is that you don’t need to connect to a third-party visualization tool like Tableau or Looker to create visualizations. Everything from data consolidation to visualization is possible within the tool itself, allowing you to speed up your decision-making process.
On top of custom dashboards, HockeyStack also offers:
- Funnels allowing you to view how user behavior changes across the customer journey
- Goals to help you track each micro and macro conversion from blog post views to signups
- Surveys to uncover the dark funnel and get user feedback to improve the customer experience
- Segments to group users by behavior and other metrics to create personalized marketing strategies
HockeyStack has two plans, both of which have a 14-day trial with a 30-day refund guarantee.
You can check out the pricing page here.
HockeyStack can be integrated with a number of tools including:
- Zapier (coming soon)
You can view the full list here.
The unique benefit of HockeyStack is its ability to unify your marketing, revenue, sales, and product data using no code. This allows you to uncover unique insights that you wouldn’t be able to by using multiple tools as they cause you to have fragmented data.
- You can integrate with Stripe, Paddle, Hubspot and other platforms to build every single dashboard that you can think of, using all sales, marketing, revenue, and product metrics.
- You can create funnels, goals, and surveys, which are rare to get with other tools on this list.
- Setup takes only five minutes which means that you can start gathering revenue-related insights in no time.
- You don’t need any developers, tracking is cookieless, and the script is small, so it doesn’t increase your site loading time
Baremetrics is a subscription analysis and engagement tool for SaaS. The tool works with Stripe (making it especially useful for most subscription-based SaaS companies,) Braintree, Chargify, Recurly, and several other popular software. Without needing to go through a complex setup process, Baremetrics can provide businesses with the most valuable SaaS marketing metrics such as churn rate, LTV, or MRR.
There are various useful features of Baremetrics: it’s possible to group customers in customized segments and to track events/metrics from the control center or customizable dashboards. The tool can also be used for MRR, cash flow, and customer predictions as well as trend analysis with its forecasting feature.
A summary of Baremetrics’ highlighted features are:
- Analytics API
- Control Center and Customizable Dashboards
- Customer Segmentation
- Email Reports
- People, Trial and Cancellation Insights
- Slack Tools
Baremetrics offers four plans: there’s no free version, and the cheapest plan costs $179/month. All plans can be tried out via a free trial, and two of the plans have ROI guarantees.
Baremetrics integrations include:
- Google Play
- App Store Connect
- Shopify Partners
Baremetrics’ Pros and Cons
The benefits of this tool mostly come from its ability to hyper-focus on data and provide a good user experience. The extensive data provided by Baremetrics may be a determining factor while choosing between it and Profitwell. A summary of the pros are:
- The data is easy to understand visually thanks to the well-designed user interface and simple yet elegant reports.
- Granular focus provides user with detailed data and the ability to dive deeper into any metric they would like.
- The possibility to benchmark against competitors makes it easier to detect metrics that need to be worked on.
The most important con of Baremetrics would be the pricing factor: while Profitwell and HockeyStack have a comprehensive free version, Baremetrics starts off at 179 dollars per month. The other cons based on reviews and the product itself are:
- Users have reported inaccurate data or data that’s failing to update.
- In the case of such errors, the customer support hasn’t been the most effective.
- It’s hard to edit data or to refresh metrics, and certain features such as forecasting can’t be easily change via customized conditions.
Another subscription-based SaaS marketing tool, Chartmogul is an analytics and revenue reporting platform. Although not a billing platform itself, ChartMogul has a list of integrations that includes billing platforms such as Recurly (see below.) ChartMogul makes it easy to focus on important marketing metrics such as LTV, MRR, and churn by consolidating your subscription data. This tool also makes it possible to see the specific events and datasets that reports are based upon.
The most liked feature of ChartMogul is its Analysis and Reports features, which allow customers to keep track of their business metrics by providing accurate and up-to-date data. The rest of the features customers enjoy the most are:
- Analysis and reports
- Charts and lists
- Developer hub
- Mobile subscription analytics
- Multi-currency reports
- Revenue recognition
- Subscription data
ChartMogul has three different payment plans, one of which is free for less than $10K MRR.
One of the main factors that put ChartMogul in front of Profitwell is its long list of integrations. Some of these include:
- App Store Connect
- Google Play
ChartMogul Pros and Cons
Customers choose ChartMogul mostly because of the tool’s ability to filter data and to segment customers. Customization of reports is also fairly easy with ChartMogul. The rest of the pros are:
- It’s easy to import data onto other apps like Google Sheets, which makes it simpler to collaborate.
- ChartMogul can handle complex subscription cases well, even when there’s a shift in the billing platform that the data is drawn from.
- High accuracy. Customers reportedly had problems with inaccurate data while using other platforms such as Baremetrics, but this wasn’t an issue with ChartMogul.
The most important disadvantages of ChartMogul include:
- It has less metrics than Profitwell, even if it does a good job in reporting said metrics.
- Since numbers update frequently, it’s sometimes hard to detect why and when data changed.
- Reaching customer support quickly seems to be, similar to most other brands, a recurring problem.
Recurly is a subscription and billing platform designed for Enterprise/Mid-Market SaaS, web and publishing businesses, though big names such as Quizlet and AccuWeather also use this brand. Recurly helps its customers optimize their payment acceptance, recurring billing systems, and subscription management systems, while also helping them recover lost revenue with its wide range of features.
Recurly’s most appreciated features are its billing and invoicing features: unlike ChartMogul, invoices can be edited and scheduled easily. The other features of Recurly include, but are not limited to:
- ACH Payment Processing
- Advertising Management
- Billing & Invoicing
- Campaign Management
- Cancellation Management
- Contact Database
- Customizable Invoices
- Debit/Credit Card Processing
- Deferred Billing
- Discount Management
- Dunning Management
While Recurly doesn’t have a free plan, its cheapest plan still starts from less than $200. The three payment plans offered by the brand are grouped as core, professional and elite.
Recurly’s Integrations include most of the popular software that businesses may be using. These include:
- Oracle NetSuite
ReCharge is another platform used for launching and scaling subscriptions as well as recurring billing and payment processing. Different from most of the other subscription management platforms, ReCharge is built for businesses of all sizes, ranging from hobbyists to large businesses, but it’s an especially useful tool for small businesses that want to stop processing payments and billings manually.
ReCharge has a smaller range of features compared to the other brands I’ve mentioned, though the more affordable plans compensate for this difference. The available features are:
- Churn Management
- Customer Retention
- Multi-Period Recurring Billing
- Multiple Payment Options
- Online Payments
- Payment Processing
- Recurring/Subscription Billing
- Self Service Portal
ReCharge has two payment plans: the standard plan doesn’t have a monthly fee, though it charges a specific percent from sales. The pro plan starts from $300/month and charges the same percent from sales.
Even though ReCharge has a smaller list of features, it has a large set of integrations, which customers enjoy. These integrations include:
- Google Analytics
- Octane AI
- Referral Candy
While researching a subscription analysis and/or billing platform fit for your business, be sure to check its list of integrations, its advantages, and disadvantages. Don’t decide on Profitwell, or any other tool, just because of its list of features–if you don’t know what features you’re specifically looking for, you may end up paying huge amounts for only two or three features that you’ll regularly use.
There is no single perfect tool, but you should settle on one that serves your business based on the size of its customer base, long-term goals, the metrics you want to track, and the other software you may be working with.
Profitwell is a subscription and analytics software that can be used to report and optimize most of the important SaaS marketing metrics.
Profitwell has a free plan and an enterprise plan for businesses that want more support and customization.
Yes: Stripe is one of the integrations of Profitwell.