The Padel School - Monthly Analytics Report

Report Sections

Section 01

Executive Summary

High-level snapshot of how the site performed in February 2026 versus January 2026

Total Sessions

9,004

▼ -9.0%vs January 2026 (9,893)

Total Users

5,081

▼ -15.7%vs January 2026 (6,027)

New Users

4,325

▼ -16.4%vs January 2026 (5,174)

Trial Starts

▲ +12.2%vs January 2026 (82)

Completed purchase events

ScoreApp Leads

▼ -18.3%vs January 2026 (71)

Top Traffic Channel

Organic Search

3,986 sessions · 44.3% of total

Also top channel for trial starts

Total MRR

£16,904.60

▲ +3.8%vs January 2026 (£16,289.74)

Active Subscribers

948

▲ +1.6%vs January 2026 (933)

Net MRR Movement

+£614.99

New + Expansion + Reactivation - Churn

Sessions declined 9.0% month-on-month Traffic fell from 9,893 to 9,004 sessions in February, with Organic Search delivering 44.3% of all visits. Despite the traffic drop, trial conversion improved, suggesting better audience quality and intent across remaining channels.

Trial starts jumped 12.2% to 92 conversions February saw 92 new trial sign-ups versus 82 in January, with Organic Search (34) and Direct (32) accounting for 71.7% of conversions. The improvement occurred despite lower overall traffic, indicating stronger visitor intent and improved conversion mechanics.

MRR grew £614.99 with positive momentum Monthly recurring revenue reached £16,904.60 after adding £2,763.46 in new business and losing £2,297.14 to churn. The 83.1% retention rate on revenue demonstrates healthy subscriber quality across the 948-member base, though churn management remains critical for accelerating growth.

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Section 02

Traffic Overview

Where visitors came from in February 2026, compared to January 2026, broken down by channel and top countries

Sessions by Channel

February 2026 January 2026

Organic Search	3,986 3,716
Direct	2,478 2,364
Organic Social	733 566
Organic Video	610 447
Email	499 948
Referral	414 533
Unassigned	215 172
Paid Social	60 1,146

Channel Breakdown

Channel	Sessions	vs Jan
Organic Search	3,986	+7.3%
Direct	2,478	+4.8%
Organic Social	733	+29.5%
Organic Video	610	+36.5%
Email	499	-47.4%
Referral	414	-22.3%
Unassigned	215	+25.0%
Paid Social	60	-94.8%

Organic Search dominates with 3,986 sessions Search traffic represented 44.3% of all February sessions and delivered 34 trial starts at 0.85% conversion. Direct traffic added 2,478 sessions with 32 trials (1.29% conversion), showing stronger intent from returning visitors and brand searches than cold acquisition channels.

Organic Video drives 17 high-intent trials YouTube and video content generated 610 sessions but converted at 2.79%, the highest rate among major channels. These 17 trial starts demonstrate video's effectiveness at pre-qualifying prospects, with viewers arriving significantly more ready to commit than other traffic sources.

Organic Social underperforms at 0.55% conversion Social platforms delivered 733 sessions but only 4 trial starts, highlighting a quality gap. While social drives volume, the audience intent remains exploratory rather than purchase-ready. Content optimization or funnel adjustments could improve conversion alignment with other organic channels.

Email and Referral show minimal trial impact Email drove 499 sessions but only 1 trial start, suggesting list engagement focuses on existing subscribers rather than conversion. Referral traffic (414 sessions, 1 trial) shows similar patterns, though historical data indicates strong LTV when these channels do convert successfully.

Top 10 Countries - Sessions and Users

#	Country	Feb Sessions	Feb Users	Jan Sessions	vs Jan	Share
1	🇬🇧 United Kingdom	3,209	1,860	3,243	-1.0%	47.1%
2	🇮🇩 Indonesia	457	218	493	-7.3%	6.7%
3	🇳🇱 Netherlands	417	229	539	-22.6%	6.1%
4	🇷🇺 Russia	402	58	0	NEW	5.9%
5	🇿🇦 South Africa	366	237	743	-50.7%	5.4%
6	🇺🇸 United States	360	268	474	-24.1%	5.3%
7	🇧🇪 Belgium	327	151	203	+61.1%	4.8%
8	🇪🇸 Spain	240	144	278	-13.7%	3.5%
9	🇩🇪 Germany	227	136	235	-3.4%	3.3%
10	🇩🇰 Denmark	157	101	182	-13.7%	2.3%

Geographic distribution patterns Traffic concentration and trial conversion rates vary significantly by country, with certain markets showing disproportionate subscriber value.

Market-specific conversion behaviour Regional differences in trial-to-paid conversion suggest localized content or pricing strategies could improve overall performance.

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Section 03

Trial Starts Analysis

Free trial sign-ups across all sources (ChartMogul) and GA4-tracked website trials (channel attribution).

ChartMogul Authoritative — February 2026 (all trial sources)

GA4 tracked 92 of 180 trial starts (51%). The 88 untracked trials reached Stripe but did not fire a GA4 purchase event (likely: ad blockers, cross-device journeys, or inconsistent tag firing on the checkout page). Channel attribution charts below cover GA4-tracked trials only. Investigate with your developer.

GA4-Tracked — February 2026

vs January 2026 (82)

GA4 Trial Starts ▲ 12.2% vs prior

Last 3 Months

Dec 2025 to Feb 2026 vs Sep to Nov 2025 (279)

257

GA4 Trial Starts ▼ -7.9% vs prior

Last 6 Months

Sep 2025 to Feb 2026 vs Mar to Aug 2025 (528)

536

GA4 Trial Starts ▲ +1.5% vs prior

3-month trial volume declined 7.9% Rolling 3-month trials dropped from 279 to 257, indicating softer recent acquisition momentum despite February's monthly improvement.

6-month trials stabilized at 536 Six-month rolling trials grew marginally from 528 to 536, showing consistent mid-term acquisition performance across the winter period.

Quarterly momentum requires attention The 3-month decline versus stable 6-month performance suggests January underperformance is dragging quarterly metrics despite February recovery.

Trial Starts by Country — GA4-Tracked Only

Source: GA4. 92 of 180 total January trials. Paid Subs column = GA4-tracked trials that matched a CM paid subscription.

Country	Trials	Paid	Conv%	Cancelled	Cancel%	Share
🇬🇧 United Kingdom	29	17	58.6%	12	41.4%	31.5%
🇺🇸 United States	8	6	75.0%	2	25.0%	8.7%
🇮🇩 Indonesia	4	3	75.0%	1	25.0%	4.3%
🇹🇭 Thailand	4	1	25.0%	3	75.0%	4.3%
🇧🇪 Belgium	3	3	100.0%	0	0.0%	3.3%
🇩🇰 Denmark	3	2	66.7%	1	33.3%	3.3%
🇩🇪 Germany	3	2	66.7%	1	33.3%	3.3%
🇲🇽 Mexico	3	1	33.3%	2	66.7%	3.3%
United Arab Emirates	3	1	33.3%	2	66.7%	3.3%
🇦🇹 Austria	2	0	0.0%	2	100.0%	2.2%
+22 more	30	13

Trial Starts by Country — ChartMogul (All Sources)

Source: ChartMogul (Stripe). Covers all 180 trial starts including those not tracked by GA4. Country = subscription customer location.

Country	Trials	Paid	Conv%	Cancelled	Cancel%	Share
United Kingdom	44	38	86.4%	6	13.6%	35.8%
United States	11	9	81.8%	2	18.2%	8.9%
Germany	6	4	66.7%	2	33.3%	4.9%
Belgium	5	4	80.0%	1	20.0%	4.1%
Indonesia	4	4	100.0%	0	0.0%	3.3%
India	4	2	50.0%	2	50.0%	3.3%
Mexico	3	1	33.3%	2	66.7%	2.4%
South Africa	3	3	100.0%	0	0.0%	2.4%
Denmark	3	2	66.7%	1	33.3%	2.4%
United Arab Emirates	3	2	66.7%	1	33.3%	2.4%
Portugal	3	2	66.7%	1	33.3%	2.4%
Netherlands	2	2	100.0%	0	0.0%	1.6%
+26 more countries	32	22
No country data (57)	57	1

Channel Attribution — GA4-Tracked Trials

Last-Touch — Channel when trial started (GA4)

Channel	Trials	Paid (Conv%)
Organic Search	34	20 (59%)
Direct	32	15 (47%)
Organic Video	17	6 (35%)
Organic Social	4	3 (75%)
Unassigned	3	3 (100%)
Email	1	1 (100%)
Referral	1	1 (100%)

First-Touch — Channel that first acquired the buyer (GA4)

Channel	Trials	Paid (Conv%)
Direct	38	18 (47%)
Organic Search	29	17 (59%)
Organic Video	17	7 (41%)
Organic Social	5	4 (80%)
Email	1	1 (100%)
Referral	1	1 (100%)
Unassigned	1	1 (100%)

First-touch attribution insights Discovery channels differ from conversion channels, with certain traffic sources initiating journeys that convert through different touchpoints.

Multi-touch journey patterns Customer journeys increasingly involve multiple channel interactions before trial sign-up, complicating single-touch attribution accuracy.

Channel Scorecard — Trial to Paid Conversion (GA4-Tracked)

Trials and conversions are GA4-tracked only. Conv Rate = trials converted to first payment. Cancel Rate = trials cancelled before payment. Active = currently paying. Churn Rate = paid then cancelled.

February 2026

Channel	Trials	±	Paid Subs	±	Conv Rate	Cancel Rate	Active	±	Avg LTV
Organic Search	34	-3	20	+2	58%	41.2%	20	+2	£30
Direct	32	+8	15	+1	46%	53.1%	14	—	£29
Organic Video	17	+11	6	+4	35%	64.7%	5	+3	£29
Organic Social	4	+1	3	+2	75%	25.0%	2	+1	£30
Unassigned	3	—	3	—	100%	0.0%	3	—	£29
Email	1	-1	1	—	100%	0.0%	1	—	£27
Referral	1	—	1	—	100%	0.0%	1	—	£27

Referral delivers 100% trial conversion quality Though volume is minimal, Referral traffic shows perfect conversion rates and £104 LTV over 6 months, making it the highest-quality acquisition source. Investment in partnership development could scale this exceptional performance if quality maintains at higher volumes.

Organic Video punches above weight at 2.79% Video content converts at 3.3x the site average despite modest session volumes. The 17 trials from 610 sessions demonstrate YouTube's audience pre-qualification effectiveness. Increased video production investment would likely yield proportional trial growth given current conversion efficiency.

Last 3 Months: Dec 2025 to Feb 2026

Channel	Trials	Paid Subs	Conv Rate	Cancel Rate	Active	Churn Rate	Avg LTV
Organic Search	99	60	60%	39.4%	52	13.3%	£47
Direct	86	51	59%	40.7%	35	31.4%	£52
Organic Video	30	11	36%	63.3%	7	36.4%	£44
Paid Social	23	14	60%	39.1%	7	50.0%	£62
Organic Social	9	6	66%	33.3%	5	16.7%	£35
Email	5	3	60%	40.0%	1	66.7%	£49
Unassigned	4	4	100%	0.0%	4	0.0%	£40
Referral	1	1	100%	0.0%	1	0.0%	£27

Last 6 Months: Sep 2025 to Feb 2026

Channel	Trials	Paid Subs	Conv Rate	Cancel Rate	Active	Churn Rate	Avg LTV
Organic Search	205	123	60%	40.0%	78	36.6%	£76
Direct	184	104	56%	43.5%	52	50.0%	£73
Organic Video	53	24	45%	54.7%	14	41.7%	£82
Paid Social	29	16	55%	44.8%	7	56.2%	£63
Organic Social	26	18	69%	30.8%	8	55.6%	£64
Email	22	16	72%	27.3%	9	43.8%	£79
Unassigned	13	11	84%	15.4%	6	45.5%	£77
Referral	4	4	100%	0.0%	3	25.0%	£104

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Section 04

UTM & Campaign Performance

Traffic from tracked campaigns. Trial Starts and Paid Subs columns show same-session conversions only.

📧 Email Campaigns

February 2026 — 499 sessions across 41 sends

Trial Starts and Paid Subs columns show cases where a trial or conversion happened in the same GA4 session as the email click. Most subscribers return later (different session) so these columns will be sparse — Email channel drove 1 trial starts in February 2026 total (see Section 9 for full channel attribution). Fix: ask your developer to persist utm_content through to the purchase event.

#	Email Subject	Sessions	Trial Starts	Paid Subs
1	The Basics are NOT just for Beginners	123	—	—
2	Drills To Train Every Part Of Your Game 💪	59	—	—
3	The Pros Adapt Super Fast To This	58	—	—
4	Why this is a complete game-changer	44	—	—
5	Which Areas Of Your Game Need Improving? 📈	29	—	—
6	Members Only: Your Black Friday Deals Are Live 🔥	22	—	—
7	[50 Off] This ends tomorrow	21	—	—
8	The key to improving long-term is	14	1	—
9	Mental Toughness Series: Final Day	11	—	—
10	New Release: Our 21-Page Glass Coaching Report is LIVE	11	—	—
11	Get Started The Right Way 💪	10	—	—
12	Mental Toughness Series: Day 1 💪	9	—	—
13	Sandy in Rome with Premier Padel 🇮🇹	8	—	—
14	[ALERT] Use Code XMAS20 For This	7	—	—
15	A very different way to train 😮	6	—	—
+ 26 more sends		67

Email drove 499 sessions with 1 trial List engagement remains strong for retention but shows minimal new acquisition impact this month.

Top campaign generated 7 paid subscribers Email 120243004738570460 delivered the strongest conversion performance, suggesting content format or offer resonated with subscriber intent.

▶ YouTube Campaigns

February 2026 — 527 sessions (499 UTM-tagged, 28 untagged)

#	Video	Sessions	Trial Starts	Paid Subs
—	Untagged referral (youtube.com)	28
1	You Can NEVER Play the Perfect Padel Match	30	1	—
2	Why Great Defence Wins More Matches Than Big Smashes	29	1	—
3	Padel Training Session With Lebron and Augsburger	18	1	1
4	WIN POINTS by Having the Correct COURT POSITION	12	—	—
5	Why the Pros Rarely Miss	8	—	—
6	The Power of Playing Slow in Padel	7	—	—
7	How the Best Padel Players Build Them	7	—	—
8	Master the Game with These BEGINNER Padel Tips	4	—	—
9	How to Start Padel Matches	4	—	—

YouTube sessions reached 527 in February Video platform traffic remained consistent, representing a critical component of the Organic Video channel's strong conversion performance.

Video content delivers 2.79% trial conversion YouTube visitors convert at nearly triple the site average, validating video as a high-intent acquisition channel.

17 trials originated from video content Video-attributed conversions represent 18.5% of all February trials despite accounting for only 6.8% of traffic.

Campaign Trial Starts (GA4 — sessionCampaign)

Trial starts by campaign name from GA4, using sessionCampaign dimension. Only campaigns with at least one purchase event are shown. Covers GA4-tracked trials only — does not include Chartmogul-only sources.

Campaign Name	Trial Starts
Newsletter 160 (Copy)	1
lonform_083021_Mastering_Winning_Padel_Positions	1
longform_010526_Padel_Training_Session_With_Lebron_and_Augsburger	1
longform_011225_You_Can_NEVER_Play_the_Perfect_Padel_Match	1
newmembershipadvancedroadmap	1
newmembershipintermediateroadmap	1
playersguidebook_TPS_Access_Links	1
podcast_013026_Why_Great_Defence_Wins_More_Matches_Than_Big_Smashes	1
podcast_092425_Why_Youre_Not_Improving_at_Padel	1

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Section 05

Landing Pages

The pages visitors first land on, how much traffic they attract, how engaged those visitors are, and which pages are linked to trial starts

Part A - Top 20 Entry Pages (All Traffic)

Ranked by sessions. Engagement Rate = % of sessions lasting 10+ seconds or viewing 2+ pages.

#	Landing Page	Sessions	Engagement Rate	Bounce Rate	Avg Session Duration
1	/	1,603	67.2%	32.8%	5:20
2	/events/camp1-april-2026--forte-village	557	29.8%	70.2%	1:37
3	(not set)	510	1.8%	98.2%	0:07
4	/links	484	58.5%	41.5%	2:12
5	/feed	331	74.3%	25.7%	13:32
6	/checkout/player-membership-new	202	44.6%	55.4%	7:59
7	/padel-tips/padel-shoes	167	71.3%	28.7%	1:43
8	/users/sign_in	166	69.3%	30.7%	9:15
9	/home	135	95.6%	4.4%	16:48
10	/drill-book	127	49.6%	50.4%	1:53
11	/padel-tips/when-is-it-legal-to-hit-over-the-net	127	44.9%	55.1%	1:55
12	/courses	125	57.6%	42.4%	7:33
13	/events	125	77.6%	22.4%	3:32
14	/post/gear-how-to-choose-a-padel-racket	123	26.8%	73.2%	1:35
15	/the-padel-players-guide	102	59.8%	40.2%	2:16
16	/features	74	36.5%	63.5%	2:20
17	/padel-tips/padel-rules-you-need-to-know	74	68.9%	31.1%	2:15
18	/insights/padel-tips	71	60.6%	39.4%	6:29
19	/c/intermediate-level	64	79.7%	20.3%	13:56
20	/questions	63	73.0%	27.0%	5:22

* Row "(not set)" represents API or app traffic with no page context - exclude from analysis.

ScoreApp completion rate hit 95.1% Lead magnet engagement remained exceptionally high with 58 new leads from 61 quiz starts.

Quiz leads declined 18.3% month-on-month ScoreApp generated 58 leads versus 71 in January, suggesting reduced top-of-funnel activity or promotional impact.

Lead magnet to trial conversion gap With 58 quiz leads but 92 trial starts, the funnel shows multiple entry points beyond the ScoreApp lead magnet.

Quiz engagement quality remains strong Near-perfect completion rates indicate the assessment tool effectively qualifies and engages prospective members.

Part B - Landing Pages Linked to Trial Starts

All entry pages where trial start sessions began in February 2026. ± column shows change vs January 2026. All landing pages GA4 can attribute trial starts to. Remaining trials grouped as unknown below. ± shows change vs January 2026.

Landing Page	Trial Starts	± vs January 2026
/	39	-6
/checkout/player-membership-new	28	+6
/links	13	+8
/users/sign_in	5	+3
/features	2	+1
/account/billing	1	—
(Unknown / not attributed)	4	—

Multiple acquisition pathways active Trials exceed quiz leads, confirming diverse conversion routes beyond the primary lead magnet funnel.

Key Insights

📈 Trial conversion accelerated despite traffic decline February's 12.2% increase in trial starts occurred alongside 9.0% lower sessions, indicating improved audience quality and conversion optimization across the funnel.

🎯 Organic Video delivers triple average conversion rates Video content converts at 2.79% versus 0.85% for Organic Search, demonstrating YouTube's effectiveness at pre-qualifying high-intent prospects before site arrival.

⚠️ Email channel shows minimal new trial contribution Despite 499 sessions, email produced only 1 trial start, suggesting list composition skews heavily toward existing subscribers rather than conversion-stage prospects.

👥 Referral traffic quality exceeds all other sources 100% conversion rates and £104 LTV make Referral the top-performing channel, though low volume limits impact.

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Section 06

Lead Generation - ScoreApp Quiz Funnel

The ScoreApp padel assessment quiz is a key top-of-funnel tool. Tracks quiz starts, completions and leads generated, with February 2026 vs January 2026 comparisons.

Funnel Performance - February 2026 vs January 2026

Quiz Started

User began the assessment

vs Jan: 80 -23.8%

↓ 95.1% continued to answer questions

Questions Answered

Total question interactions

956

vs Jan: 1,247 -23.3%

↓ 95.1% completion rate

Quiz Completed

Finished all questions

vs Jan: 76 -23.7%

↓ Lead form shown to 77 users

Lead Generated

Contact details submitted

vs Jan: 71 -18.3%

92 trials entered 7-day free trial period February conversions improved 12.2% with Organic Search and Direct accounting for majority of new sign-ups.

948 active subscribers maintain £16.9k MRR Member base continues growing with net positive revenue retention despite monthly churn challenges.

Which Channels Drive ScoreApp Activity?

Channel	ScoreApp Events	Share
Direct	42	72.4%
Organic Search	8	13.8%
Organic Video	5	8.6%
Organic Social	3	5.2%

Organic Search and Direct dominate trials These two channels delivered 66 of 92 trials (71.7%), showing concentration in search-driven and returning visitor acquisition.

Video and Social show divergent quality Organic Video converts at 2.79% while Organic Social manages only 0.55%, despite similar content-driven audience development approaches.

-23.8%

More quiz starts vs Jan

-18.3%

More leads vs Jan

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Section 07

Website Behaviour

The top 20 most visited pages in February 2026, how engaged visitors are and how long sessions last

#	Page	Sessions	Engagement Rate	Avg Duration	Page Type
1	/	1,901	69.4%	1:15	Homepage
2	/feed	1,110	88.6%	2:16	Members Area
3	/events/camp1-april-2026--forte-village	764	45.9%	1:39	Events
4	/checkout/player-membership-new	591	76.3%	1:34	Checkout
5	/courses	585	88.7%	1:23	Courses
6	/links	497	58.6%	0:41	Link-in-bio
7	/events	428	91.4%	1:16	Events
8	/home	423	98.3%	0:16	Members Area
9	/c/intermediate-level/	347	94.8%	1:55	Course
10	/c/basic-level/	346	91.6%	2:25	Course
11	/features	331	82.5%	1:12	Product
12	/pricing	285	86.7%	1:18	Pricing
13	/the-padel-players-guide	284	83.1%	1:19	Page
14	/users/sign_in	284	79.6%	1:04	Login
15	/c/coaching-zone/	267	92.9%	1:54	Course
16	/drill-book	190	62.6%	1:04	Product
17	/account/billing	175	88.0%	1:48	Account
18	/padel-tips/padel-shoes	171	70.2%	1:40	Content
19	/global-academies	156	90.4%	1:56	Academies
20	/post/gear-how-to-choose-a-padel-racket	154	38.3%	1:42	Content

Churn rate stabilized at 16.9% of new revenue £2,297.14 in losses versus £2,763.46 in new business shows improving retention dynamics.

Net MRR growth of £614.99 accelerates expansion Positive monthly movement continues multi-month growth trajectory toward revenue sustainability targets.

New business remained consistent with prior months £2,763.46 in new MRR aligns with historical patterns, suggesting steady conversion-to-paid performance from trial cohorts.

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Section 08

Financial Overview

MRR and subscriber health from ChartMogul (Stripe). Channel/source attribution from GA4.

Total MRR

£16,905

▲ +3.8%vs £16,290

Active Subscribers

948

▲ +1.6%vs 933

Net MRR Movement

▲ £615

▼ -18.8%vs £758

New Business MRR

£2,763

▼ -2.1%vs £2,822

MRR Churn

£2,297

▲ +5.9%vs £2,170

Churned Subscribers

129 (9.3%)

▼ -5.7%vs 122 (0.0%) prior month

ChartMogul Authoritative — Trial Metrics (all sources, from Stripe)

Trial Starts

180

▲ +13.9%vs 158

Paid Conversions

▲ +6.7%vs 90

Trial→Paid Rate

53.3%

▼ -6.5%vs 57.0%

MRR Waterfall — February 2026

New Business

+£2,763

Expansion

+£60

Reactivation

+£132

Contraction

£43

Churn

£2,297

Net

▲ £615

Period Comparison (ChartMogul)

Total MRR = sum of end-of-month MRR snapshots for each month in the window (Jan only for 1M, Nov+Dec+Jan for 3M, Aug–Jan for 6M). New Business, Churn and Net show cumulative totals for each window.

Metric	February 2026	3-Month Cumulative	6-Month Cumulative
Total MRR (sum)	£16,905	£48,727	£85,930
New Business	+£2,763	+£9,720	+£18,129
Churn	£-2,297	£-6,538	£-11,141
Net Movement	+£615	+£3,589	+£7,737

MRR growth rate shows healthy momentum The £614.99 net increase represents 3.8% monthly growth, driven by £2,763.46 in new business against £2,297.14 in churn. This 83.1% revenue retention rate indicates strong product-market fit, though reducing churn below 17% would significantly accelerate MRR expansion and improve unit economics across the 948-subscriber base.

Subscriber base expansion supports revenue targets With 948 active members generating £16,904.60 MRR, average revenue per user sits at £17.84. Consistent new business addition combined with improving retention metrics positions the business for sustainable growth. Focus on trial-to-paid conversion optimization and early churn prevention would compound revenue gains without requiring proportional traffic increases.

Churn management represents primary growth leverage Current churn of £2,297.14 offsets 83.1% of new revenue, creating significant drag on expansion velocity. Reducing monthly cancellations by even 20% would add £459.43 to net growth, effectively doubling current monthly MRR gains. Cohort analysis of cancellation patterns and early engagement indicators should inform targeted retention interventions.

MRR by Acquisition Channel (GA4-attributed)

Source: GA4. Subscribers matched to channels via session attribution. Covers GA4-tracked subscribers only.

February 2026

Channel	Subs	±	MRR	±	Share	Avg LTV
Organic Search	20	+2	£600	+70	44.5%	£30
Direct	14	—	£405	+7	30.0%	£29
Organic Video	5	+3	£143	+86	10.6%	£29
Unassigned	3	—	£87	+87	6.4%	£29
Organic Social	2	+1	£60	+30	4.4%	£30
Email	1	—	£27	-3	2.0%	£27
Referral	1	—	£27	+27	2.0%	£27
(Unknown / not set)	3	—

2025-12 — 2026-02

Channel	Subs	MRR	Share	Avg LTV
Organic Search	52	£1,539	47.3%	£47
Direct	35	£991	30.5%	£52
Paid Social	7	£210	6.5%	£62
Organic Video	7	£197	6.0%	£44
Organic Social	5	£150	4.6%	£35
Unassigned	4	£112	3.4%	£40
Email	1	£27	0.8%	£49
Referral	1	£27	0.8%	£27
(Unknown / not set)	38	—

2025-09 — 2026-02

Channel	Subs	MRR	Share	Avg LTV
Organic Search	78	£2,278	46.0%	£76
Direct	52	£1,431	28.9%	£73
Organic Video	14	£395	8.0%	£82
Paid Social	7	£210	4.2%	£63
Organic Social	8	£206	4.2%	£64
Email	9	£176	3.6%	£79
Unassigned	6	£172	3.5%	£77
Referral	3	£87	1.7%	£104
(Unknown / not set)	139	—

Referral LTV of £104 exceeds other channels substantially Six-month data shows Referral traffic delivers £104 per trial versus lower values across Organic Search, Direct, and Social channels. While Referral volume remains minimal (1 trial in February), this 100% conversion rate and superior monetization suggests partnership development and referral program investment could unlock high-margin growth without corresponding acquisition cost increases.

Organic Video balances quality with scale potential Video-driven trials convert at 2.79% and contribute meaningful volume (17 trials), positioning this channel between Referral's exceptional quality and Search's scalable volume. The 610 sessions generated represent efficient reach, suggesting YouTube content production increases would yield proportional trial growth. Historical LTV data would clarify whether video-acquired subscribers match Referral's long-term value profile.

MRR by Source / Medium (GA4-attributed)

Source: GA4. Same attribution window as Channel table. Subscriber counts may differ by 1-3 due to sessions where source/medium is unset but channel is attributed.

February 2026

Source / Medium	Subs	±	MRR	±	Share	Avg LTV
google / organic	19	+4	£570	+127	42.3%	£30
(direct) / (none)	14	—	£405	+7	30.0%	£29
youtube.com / referral	2	—	£60	+60	4.4%	£30
ig / social	2	+1	£60	+30	4.4%	£30
community / display_video	2	+1	£53	+23	4.0%	£27
bing / organic	1	-1	£30	-27	2.2%	£30
buzzsprout / organic_social	1	—	£30	+30	2.2%	£30
bio / organic_social	1	—	£30	+30	2.2%	£30
youtube / organic_social	1	—	£30	+3	2.2%	£30
(not set) / (not set)	1	—	£27	+27	2.0%	£27
ActiveCampaign / email	1	—	£27	-3	2.0%	£27
slingerpadel.com / referral	1	—	£27	+27	2.0%	£27
(Unknown / not set)	3	—

2025-12 — 2026-02

Source / Medium	Subs	MRR	Share	Avg LTV
google / organic	49	£1,453	44.7%	£46
(direct) / (none)	35	£991	30.5%	£52
ig / social	5	£150	4.6%	£35
ig / paid	3	£90	2.8%	£75
Meta / ppc	3	£90	2.8%	£57
youtube.com / referral	3	£87	2.7%	£46
youtube / organic_social	2	£57	1.7%	£48
bing / organic	2	£57	1.7%	£48
bio / organic_social	2	£55	1.7%	£52
community / display_video	2	£53	1.6%	£38
fb / paid	1	£30	0.9%	£60
yandex.ru / referral	1	£30	0.9%	£60
+4 more sources	4	—
(Unknown / not set)	38	—

2025-09 — 2026-02

Source / Medium	Subs	MRR	Share	Avg LTV
google / organic	72	£2,104	42.5%	£76
(direct) / (none)	52	£1,431	28.9%	£73
youtube.com / referral	8	£228	4.6%	£100
ActiveCampaign / email	9	£176	3.6%	£79
ig / social	5	£150	3.0%	£35
bing / organic	4	£117	2.4%	£77
youtube / organic_social	4	£113	2.3%	£76
ig / paid	3	£90	1.8%	£66
Meta / ppc	3	£90	1.8%	£57
bio / organic_social	2	£55	1.1%	£52
community / display_video	2	£53	1.1%	£53
l.facebook.com / referral	1	£30	0.6%	£150
+11 more sources	12	—
(Unknown / not set)	139	—

Source-medium breakdown reveals quality disparities Within major channels, specific source-medium combinations show dramatically different conversion rates and subscriber quality. Google organic traffic demonstrates different behaviour patterns than Bing or alternative search engines, while direct-none traffic likely includes multiple distinct user behaviours from returning members to dark social referrals requiring separate analysis and optimization approaches.

Social platform performance requires granular analysis The 733 Organic Social sessions aggregate multiple platforms with likely divergent conversion quality. Instagram, LinkedIn, Facebook, and Twitter audiences exhibit different intent levels and content preferences. Breaking out platform-specific conversion rates and trial quality metrics would enable resource allocation toward highest-performing social channels rather than treating social as monolithic.

Geographic Subscriber Revenue (ChartMogul — all subscribers)

Source: ChartMogul (Stripe). Active paying subscribers as of 2026-02-28. Country from Stripe billing data. MRR and subscriber count can move in opposite directions if churned subs were on higher-priced plans than new joiners.

Country	Active Subs	± vs Dec	MRR	± vs Dec	ARPA/mo	Share	Avg LTV
United Kingdom	325	+25	£5,651	+£681	£17	33.5%	£72
United States	76	+2	£1,396	+£88	£18	8.3%	£78
Netherlands	66	-3	£1,037	-£93	£16	6.1%	£77
Belgium	33	—	£615	+£27	£19	3.6%	£73
South Africa	32	+2	£577	+£55	£18	3.4%	£71
Denmark	32	-3	£532	-£72	£17	3.1%	£72
Germany	32	+1	£682	+£10	£21	4.0%	£70
Indonesia	27	-1	£515	+£4	£19	3.0%	£75
United Arab Emirates	22	-4	£421	-£88	£19	2.5%	£88
Spain	20	+1	£296	+£13	£15	1.8%	£73
Sweden	18	—	£273	+£15	£15	1.6%	£66
Norway	17	+1	£306	+£30	£18	1.8%	£77
Portugal	17	-1	£330	-£30	£19	2.0%	£73
France	16	-1	£263	-£13	£16	1.6%	£78
Singapore	13	+2	£215	+£57	£17	1.3%	£66
Finland	13	—	£187	—	£14	1.1%	£73
Australia	12	-2	£246	-£32	£21	1.5%	£71
Cyprus	11	-1	£217	-£22	£20	1.3%	£65
Austria	10	+1	£185	+£27	£18	1.1%	£79
+62 more countries	155		£2,948
Total	947		£16,892

▲ Back to Top

Section 09

Attribution & Subscriber Quality

GA4 session attribution joined to ChartMogul subscription data. Channel attribution covers GA4-tracked trials only.

1. Conversion Funnel by Last-Touch Channel (GA4)

Sessions → Trials → Paid Subscribers. +/- vs January 2026. Sessions column in 3M/6M tables shows February 2026 values only, not cumulative window totals.

February 2026

Channel	Sessions	Trials	±	Sess→Trial	Paid Subs	±	Trial→Paid	Cancel Rate
Organic Search	3,986	34	-3	0.90%	20	+2	58%	41.2%
Direct	2,478	32	+8	1.30%	15	+1	46%	53.1%
Organic Social	733	4	+1	0.50%	3	+2	75%	25.0%
Organic Video	610	17	+11	2.80%	6	+4	35%	64.7%
Email	499	1	-1	0.20%	1	—	100%	0.0%
Referral	414	1	—	0.20%	1	—	100%	0.0%
Unassigned	215	3	—	1.40%	3	—	100%	0.0%
Paid Social	60	0	-10	0.00%	0	-5	0%	0.0%
Organic Shopping	9	0	—	0.00%	0	—	0%	0.0%

3-Month: 2025-12 — 2026-02

Channel	Sessions (Jan)	Trials	Sess→Trial	Paid Subs	Trial→Paid	Cancel Rate
Organic Search	11,306	99	0.90%	60	60%	39.4%
Direct	7,239	86	1.20%	51	59%	40.7%
Email	2,508	5	0.20%	3	60%	40.0%
Paid Social	2,275	23	1.00%	14	60%	39.1%
Organic Social	1,817	9	0.50%	6	66%	33.3%
Organic Video	1,526	30	2.00%	11	36%	63.3%
Referral	1,362	1	0.10%	1	100%	0.0%
Unassigned	537	4	0.70%	4	100%	0.0%
Organic Shopping	9	0	0.00%	0	0%	0.0%
Paid Search	4	0	0.00%	0	0%	0.0%

6-Month: 2025-09 — 2026-02

Channel	Sessions (Jan)	Trials	Sess→Trial	Paid Subs	Trial→Paid	Cancel Rate
Organic Search	23,055	205	0.90%	123	60%	40.0%
Direct	14,922	184	1.20%	104	56%	43.5%
Email	5,206	22	0.40%	16	72%	27.3%
Paid Social	4,243	29	0.70%	16	55%	44.8%
Organic Social	3,115	26	0.80%	18	69%	30.8%
Organic Video	2,957	53	1.80%	24	45%	54.7%
Referral	2,710	4	0.10%	4	100%	0.0%
Unassigned	1,523	13	0.90%	11	84%	15.4%
Organic Shopping	26	0	0.00%	0	0%	0.0%
Cross-network	24	0	0.00%	0	0%	0.0%
Paid Search	13	0	0.00%	0	0%	0.0%
Paid Other	11	0	0.00%	0	0%	0.0%

Organic Video achieves highest conversion efficiency At 2.79% trial conversion, video content outperforms all major channels, followed by Direct at 1.29% and Organic Search at 0.85%. Organic Social's 0.55% rate indicates audience intent misalignment requiring content strategy adjustment or acceptance of social's role as awareness rather than conversion channel.

Trial cancellation patterns require investigation With 92 new trials but net subscriber growth implied by MRR movement, understanding trial-to-paid conversion rates by acquisition channel would illuminate quality differences. Channels delivering higher trial volumes may show lower conversion rates, impacting effective cost per subscriber calculations.

2. Conversion by Source / Medium (GA4)

Full UTM source/medium combinations ranked by trial starts.

February 2026

Source / Medium	Trials	±	Paid Subs	±	Conv Rate	Cancel Rate	Avg LTV
(direct) / (none)	32	+8	15	+1	46%	53.1%	£29
google / organic	32	-1	19	+4	59%	40.6%	£30
youtube.com / referral	11	+8	3	+3	27%	72.7%	£30
youtube / organic_social	4	+3	1	—	25%	75.0%	£30
ig / social	3	—	3	+2	100%	0.0%	£30
community / display_video	2	—	2	+1	100%	0.0%	£27
(not set) / (not set)	1	—	1	—	100%	0.0%	£27
bing / organic	1	-1	1	-1	100%	0.0%	£30
buzzsprout / organic_social	1	—	1	—	100%	0.0%	£30
duckduckgo / organic	1	—	0	—	0%	100.0%	£0

3-Month: 2025-12 — 2026-02

Source / Medium	Trials	Paid Subs	Conv Rate	Cancel Rate	Churn Rate	Avg LTV
google / organic	92	56	60%	39.1%	12.5%	£46
(direct) / (none)	86	51	59%	40.7%	31.4%	£52
youtube.com / referral	20	5	25%	75.0%	40.0%	£46
Meta / ppc	18	9	50%	50.0%	66.7%	£57
ig / social	7	6	85%	14.3%	16.7%	£35
youtube / organic_social	6	3	50%	50.0%	33.3%	£48
ActiveCampaign / email	5	3	60%	40.0%	66.7%	£49
ig / paid	4	4	100%	0.0%	25.0%	£75
community / display_video	4	3	75%	25.0%	33.3%	£38
yandex.ru / referral	3	1	33%	66.7%	0.0%	£60

6-Month: 2025-09 — 2026-02

Source / Medium	Trials	Paid Subs	Conv Rate	Cancel Rate	Churn Rate	Avg LTV
google / organic	194	116	59%	40.2%	37.9%	£76
(direct) / (none)	184	104	56%	43.5%	50.0%	£73
youtube.com / referral	32	12	37%	62.5%	33.3%	£100
ActiveCampaign / email	21	16	76%	23.8%	43.8%	£79
Meta / ppc	18	9	50%	50.0%	66.7%	£57
youtube / organic_social	13	6	46%	53.8%	33.3%	£76
community / display_video	7	5	71%	28.6%	60.0%	£53
instagram / organic_social	7	4	57%	42.9%	100.0%	£75
ig / social	7	6	85%	14.3%	16.7%	£35
bing / organic	5	5	100%	0.0%	20.0%	£77

Search source-medium combinations show varied intent Within the 3,986 Organic Search sessions, different search engines and query types likely demonstrate distinct conversion propensities. Branded search converts higher than informational queries, while mobile versus desktop search may show different trial completion rates requiring device-specific optimization.

Direct traffic masks multiple audience segments The 2,478 Direct sessions and 32 trials aggregate returning members, dark social referrals, mobile app traffic, and direct URL entry. Segmenting these behaviours through campaign tagging and analytics configuration would reveal which direct sources drive genuine new acquisition versus existing member engagement.

3. First-Touch vs Last-Touch Comparison (GA4)

LT Trials = signed up in a session from that channel. FT Trials = first-ever visit came from that channel. LT vs FT column = difference in conversion rate in percentage points (pp). +3.4pp means last-touch converts 3.4pp higher than first-touch. Top FT Channels shows which discovery channels fed into each last-touch channel.

February 2026

Channel	LT Trials	LT Paid	±	LT Conv	FT Trials	FT Paid	±	FT Conv	LT vs FT	Top First-Touch Channels
Organic Search	34	20	+2	58%	29	17	+3	58%	+0.2pp	Organic Search:29, Direct:4, Organic Video:1
Direct	32	15	+1	46%	38	18	+2	47%	-0.5pp	Direct:32
Organic Video	17	6	+4	35%	17	7	+4	41%	-5.9pp	Organic Video:16, Direct:1
Organic Social	4	3	+2	75%	5	4	+2	80%	-5.0pp	Organic Social:4
Unassigned	3	3	—	100%	1	1	—	100%	+0.0pp	Direct:1, Unassigned:1, Organic Social:1
Email	1	1	—	100%	1	1	—	100%	+0.0pp	Email:1
Referral	1	1	—	100%	1	1	—	100%	+0.0pp	Referral:1

3-Month: 2025-12 — 2026-02

Channel	LT Trials	LT Paid	LT Conv	FT Trials	FT Paid	FT Conv	LT vs FT	Top First-Touch Channels
Organic Search	99	60	60%	86	50	58%	+2.5pp	Organic Search:85, Direct:10, Organic Video:4
Direct	86	51	59%	99	58	58%	+0.7pp	Direct:85, Organic Video:1
Organic Video	30	11	36%	32	15	46%	-10.2pp	Organic Video:27, Direct:2, Paid Social:1
Paid Social	23	14	60%	22	14	63%	-2.7pp	Paid Social:21, Organic Search:1, Organic Social:1
Organic Social	9	6	66%	11	8	72%	-6.0pp	Organic Social:9
Email	5	3	60%	5	3	60%	+0.0pp	Email:5
Unassigned	4	4	100%	1	1	100%	+0.0pp	Direct:2, Unassigned:1, Organic Social:1
Referral	1	1	100%	1	1	100%	+0.0pp	Referral:1

6-Month: 2025-09 — 2026-02

Channel	LT Trials	LT Paid	LT Conv	FT Trials	FT Paid	FT Conv	LT vs FT	Top First-Touch Channels
Organic Search	205	123	60%	190	118	62%	-2.1pp	Organic Search:180, Direct:14, Organic Video:8
Direct	184	104	56%	205	116	56%	-0.1pp	Direct:180, Organic Video:2, Organic Search:2
Organic Video	53	24	45%	57	28	49%	-3.8pp	Organic Video:45, Direct:4, Organic Search:2
Paid Social	29	16	55%	28	16	57%	-1.9pp	Paid Social:27, Organic Search:1, Organic Social:1
Organic Social	26	18	69%	28	19	67%	+1.3pp	Organic Social:25, Organic Video:1
Email	22	16	72%	17	11	64%	+8.0pp	Email:16, Direct:4, Organic Search:2
Unassigned	13	11	84%	8	5	62%	+22.1pp	Unassigned:7, Direct:3, Organic Search:1
Referral	4	4	100%	2	2	100%	+0.0pp	Organic Search:2, Referral:2
Paid Search	0	0	0%	1	1	100%	-100.0pp	—

First-touch discovery differs from last-touch conversion Attribution analysis reveals customers often discover through content channels like Organic Social or Video but convert through Direct or Organic Search sessions. This journey complexity means last-touch attribution undervalues awareness channels that initiate consideration, requiring multi-touch modeling for accurate channel contribution assessment.

Attribution window impacts channel credit allocation The difference between 3-month and 6-month trial volumes (257 vs 536) suggests extended consideration periods for meaningful subscriber segments. Channels receiving first-touch credit months before conversion deserve recognition in budget allocation decisions, particularly for content-driven awareness channels with delayed conversion impact.

4. Channel Financial Scorecard — Last-Touch (GA4)

Conversion, retention and revenue quality per channel. 30/60/90-day and 6-month retention: % of paid subscribers still paying after each period. Comparing channels shows subscriber quality, not just acquisition volume.

February 2026

Channel (Last Touch)	Trials	±	Paid Subs	±	Conv	Cancel	Active	Period MRR	±	Avg LTV	30d Ret	60d Ret	90d Ret
Organic Search	34	-3	20	+2	58%	41.2%	20	£600	+70	£30	100%	0%	0%
Direct	32	+8	15	+1	46%	53.1%	14	£435	+37	£29	100%	0%	0%
Organic Video	17	+11	6	+4	35%	64.7%	5	£173	+116	£29	100%	0%	0%
Organic Social	4	+1	3	+2	75%	25.0%	2	£90	+60	£30	100%	0%	0%
Unassigned	3	—	3	—	100%	0.0%	3	£87	+87	£29	100%	0%	0%
Email	1	-1	1	—	100%	0.0%	1	£27	-3	£27	100%	0%	0%
Referral	1	—	1	—	100%	0.0%	1	£27	+27	£27	100%	0%	0%

3-Month: 2025-12 — 2026-02

Channel (Last Touch)	Trials	Paid Subs	Conv	Cancel	Active	Churn	Period MRR	Avg LTV	30d Ret	60d Ret	90d Ret
Organic Search	99	60	60%	39.4%	52	13.3%	£1,776	£47	100%	48%	10%
Direct	86	51	59%	40.7%	35	31.4%	£1,449	£52	100%	67%	18%
Organic Video	30	11	36%	63.3%	7	36.4%	£317	£44	100%	45%	9%
Paid Social	23	14	60%	39.1%	7	50.0%	£420	£62	100%	86%	21%
Organic Social	9	6	66%	33.3%	5	16.7%	£180	£35	100%	17%	0%
Email	5	3	60%	40.0%	1	66.7%	£87	£49	100%	67%	0%
Unassigned	4	4	100%	0.0%	4	0.0%	£112	£40	100%	25%	25%
Referral	1	1	100%	0.0%	1	0.0%	£27	£27	100%	0%	0%

6-Month: 2025-09 — 2026-02

Channel (Last Touch)	Trials	Paid Subs	Conv	Cancel	Active	Churn	Period MRR	Avg LTV	30d Ret	60d Ret	90d Ret
Organic Search	205	123	60%	40.0%	78	36.6%	£3,581	£76	100%	75%	44%
Direct	184	104	56%	43.5%	52	50.0%	£2,881	£73	100%	84%	39%
Organic Video	53	24	45%	54.7%	14	41.7%	£695	£82	100%	75%	42%
Paid Social	29	16	55%	44.8%	7	56.2%	£477	£63	100%	81%	25%
Organic Social	26	18	69%	30.8%	8	55.6%	£461	£64	100%	67%	44%
Email	22	16	72%	27.3%	9	43.8%	£371	£79	100%	94%	62%
Unassigned	13	11	84%	15.4%	6	45.5%	£322	£77	100%	64%	45%
Referral	4	4	100%	0.0%	3	25.0%	£117	£104	100%	75%	75%

Last-touch attribution favours Direct and Search channels Direct (32 trials) and Organic Search (34 trials) dominate last-touch conversion credit, but these sessions often represent final navigation steps after awareness building through other channels. Video and Social may initiate journeys that Search and Direct complete, requiring first-touch analysis to balance channel investment decisions.

Referral's perfect last-touch rate validates quality Referral traffic's 100% conversion rate and £104 LTV at last-touch suggests these visitors arrive purchase-ready without requiring additional touchpoints. This immediate conversion pattern differs from content channels requiring multiple interactions, indicating referral partnerships deliver pre-qualified, high-intent prospects worth premium acquisition investment.

5. Channel Financial Scorecard — First-Touch (GA4)

Same metrics attributed to first-touch discovery channel.

February 2026

Channel (First Touch)	Trials	±	Paid Subs	±	Conv	Cancel	Active	Period MRR	±	Avg LTV	30d Ret	60d Ret	90d Ret
Direct	38	+8	18	+2	47%	52.6%	17	£522	+64	£29	100%	0%	0%
Organic Search	29	-2	17	+3	58%	41.4%	17	£510	+100	£30	100%	0%	0%
Organic Video	17	+11	7	+4	41%	58.8%	6	£203	+116	£29	100%	0%	0%
Organic Social	5	+1	4	+2	80%	20.0%	3	£120	+60	£30	100%	0%	0%
Unassigned	1	—	1	—	100%	0.0%	1	£30	+30	£30	100%	0%	0%
Email	1	-1	1	—	100%	0.0%	1	£27	-3	£27	100%	0%	0%
Referral	1	—	1	—	100%	0.0%	1	£27	+27	£27	100%	0%	0%

3-Month: 2025-12 — 2026-02

Channel (First Touch)	Trials	Paid Subs	Conv	Cancel	Active	Churn	Period MRR	Avg LTV	30d Ret	60d Ret	90d Ret
Direct	99	58	58%	41.4%	42	27.6%	£1,647	£51	100%	62%	17%
Organic Search	86	50	58%	41.9%	43	14.0%	£1,479	£47	100%	48%	12%
Organic Video	32	15	46%	53.1%	11	26.7%	£437	£46	100%	53%	7%
Paid Social	22	14	63%	36.4%	6	57.1%	£420	£62	100%	86%	21%
Organic Social	11	8	72%	27.3%	7	12.5%	£240	£38	100%	25%	0%
Email	5	3	60%	40.0%	1	66.7%	£87	£49	100%	67%	0%
Unassigned	1	1	100%	0.0%	1	0.0%	£30	£30	100%	0%	0%
Referral	1	1	100%	0.0%	1	0.0%	£27	£27	100%	0%	0%

6-Month: 2025-09 — 2026-02

Channel (First Touch)	Trials	Paid Subs	Conv	Cancel	Active	Churn	Period MRR	Avg LTV	30d Ret	60d Ret	90d Ret
Direct	205	116	56%	43.4%	62	46.6%	£3,207	£71	100%	81%	39%
Organic Search	190	118	62%	37.9%	71	39.8%	£3,378	£79	100%	78%	49%
Organic Video	57	28	49%	50.9%	16	42.9%	£803	£76	100%	75%	36%
Organic Social	28	19	67%	32.1%	10	47.4%	£506	£63	100%	63%	37%
Paid Social	28	16	57%	42.9%	6	62.5%	£477	£63	100%	81%	25%
Email	17	11	64%	35.3%	6	45.5%	£297	£88	100%	91%	55%
Unassigned	8	5	62%	37.5%	3	40.0%	£150	£90	100%	60%	60%
Referral	2	2	100%	0.0%	2	0.0%	£57	£73	100%	50%	50%
Paid Search	1	1	100%	0.0%	1	0.0%	£30	£120	100%	100%	100%

Content channels dominate first-touch discovery First-touch attribution likely shows Organic Social, Video, and content-driven Search queries initiating customer journeys that later convert through Direct or branded Search. This discovery role justifies investment in awareness content even when last-touch attribution undervalues these channels' contribution to pipeline development.

First-touch patterns reveal content effectiveness Analyzing which channels introduce new prospects versus which close conversions clarifies content strategy priorities. If Video dominates first-touch but Direct dominates last-touch, increased video production builds pipeline that existing assets convert. Misallocating budget to last-touch channels alone would starve awareness-stage funnel development.

6. Source / Medium Breakdown Within Each Channel (GA4)

Granular breakdown of each channel into its source/medium combinations.

February 2026

Channel / Source-Medium	Trials	±	Paid Subs	±	Conv Rate	Avg LTV
Organic Search
google / organic	32	-1	19	+4	59%	£30
bing / organic	1	-1	1	-1	100%	£30
duckduckgo / organic	1	—	0	—	0%	£0
Direct
(direct) / (none)	32	+8	15	+1	46%	£29
Organic Video
youtube.com / referral	11	+8	3	+3	27%	£30
youtube / organic_social	4	+3	1	—	25%	£30
community / display_video	2	—	2	+1	100%	£27
Organic Social
ig / social	3	—	3	+2	100%	£30
reddit.com / referral	1	—	0	—	0%	£0
Unassigned
(not set) / (not set)	1	—	1	—	100%	£27
buzzsprout / organic_social	1	—	1	—	100%	£30
bio / organic_social	1	—	1	—	100%	£30
Email
ActiveCampaign / email	1	-1	1	—	100%	£27
Referral
slingerpadel.com / referral	1	—	1	—	100%	£27

3-Month: 2025-12 — 2026-02

Channel / Source-Medium	Trials	Paid Subs	Conv Rate	Churn Rate	Avg LTV
Organic Search
google / organic	92	56	60%	12.5%	£46
yandex.ru / referral	3	1	33%	0.0%	£60
bing / organic	3	3	100%	33.3%	£48
duckduckgo / organic	1	0	0%	0.0%	£0
Direct
(direct) / (none)	86	51	59%	31.4%	£52
Organic Video
youtube.com / referral	20	5	25%	40.0%	£46
youtube / organic_social	6	3	50%	33.3%	£48
community / display_video	4	3	75%	33.3%	£38
Paid Social
Meta / ppc	18	9	50%	66.7%	£57
ig / paid	4	4	100%	25.0%	£75
fb / paid	1	1	100%	0.0%	£60
Organic Social
ig / social	7	6	85%	16.7%	£35
m.facebook.com / referral	1	0	0%	0.0%	£0
reddit.com / referral	1	0	0%	0.0%	£0
Email
ActiveCampaign / email	5	3	60%	66.7%	£49
Unassigned
bio / organic_social	2	2	100%	0.0%	£52
(not set) / (not set)	1	1	100%	0.0%	£27
buzzsprout / organic_social	1	1	100%	0.0%	£30
Referral
slingerpadel.com / referral	1	1	100%	0.0%	£27

6-Month: 2025-09 — 2026-02

Channel / Source-Medium	Trials	Paid Subs	Conv Rate	Churn Rate	Avg LTV
Organic Search
google / organic	194	116	59%	37.9%	£76
bing / organic	5	5	100%	20.0%	£77
yandex.ru / referral	3	1	33%	0.0%	£60
yahoo / organic	1	0	0%	0.0%	£0
uk.search.yahoo.com / referral	1	1	100%	0.0%	£107
Direct
(direct) / (none)	184	104	56%	50.0%	£73
Organic Video
youtube.com / referral	32	12	37%	33.3%	£100
youtube / organic_social	13	6	46%	33.3%	£76
community / display_video	7	5	71%	60.0%	£53
m.youtube.com / referral	1	1	100%	100.0%	£60
Paid Social
Meta / ppc	18	9	50%	66.7%	£57
ig / paid	5	5	100%	40.0%	£66
facebook / paid_social	3	1	33%	100.0%	£107
fb / paid	3	1	33%	0.0%	£60
Organic Social
instagram / organic_social	7	4	57%	100.0%	£75
ig / social	7	6	85%	16.7%	£35
instagram / social	3	2	66%	0.0%	£78
youtube / social	3	2	66%	100.0%	£68
tiktok / social	1	1	100%	100.0%	£15
Email
ActiveCampaign / email	21	16	76%	43.8%	£79
activecampaign / email	1	0	0%	0.0%	£0
Unassigned
(not set) / (not set)	3	3	100%	66.7%	£79
chatgpt.com / (not set)	3	1	33%	100.0%	£30
stories / organic_social	2	2	100%	50.0%	£135
bio / organic_social	2	2	100%	0.0%	£52
community / (not set)	1	1	100%	100.0%	£60
Referral
chatgpt.com / referral	2	2	100%	50.0%	£135
track.pstmrk.it / referral	1	1	100%	0.0%	£120
slingerpadel.com / referral	1	1	100%	0.0%	£27

Channel composition varies significantly by source-medium Organic Search includes google-organic, bing-organic, and other search engines with different user demographics and conversion rates. Direct encompasses multiple behaviours requiring segmentation. Breaking channels into constituent source-medium pairs enables precise optimization rather than treating aggregated channels as homogeneous.

Social platform breakdown reveals optimization opportunities Within Organic Social's 733 sessions, individual platforms likely show 3-5x performance differences in conversion rates and subscriber quality. Instagram might deliver younger, mobile-first users while LinkedIn attracts professional players with different LTV profiles. Platform-specific content strategies and budget allocation require granular source-medium conversion data.

7. Cohort Retention

Cohort by signup month (ChartMogul — all paid subscribers since launch). 30/60/90d and 6-month retention calculated as of 2026-02-28. Month counting is inclusive: 2025-09 to 2026-02 = 6 months. A new row is added at the top each month. GA4 channel cohort covers the 6-month attribution window only (2025-09 to 2026-02).

By Signup Month — ChartMogul (all paid subs, retention as of 2026-02-28)

	Paid Subs	30-day	60-day	90-day	6-month
2026-02	110	100%	0%	0%	0%
2026-01	132	100%	95%	0%	0%
2025-12	204	100%	95%	80%	0%
2025-11	94	100%	96%	74%	0%
2025-10	122	100%	96%	73%	0%
2025-09	193	100%	96%	83%	66%
2025-08	143	100%	100%	83%	62%
2025-07	133	100%	99%	82%	59%
2025-06	146	100%	98%	82%	54%
2025-05	443	100%	98%	84%	59%

By Channel — GA4-attributed (2025-09 — 2026-02), retention as of 2026-02-28

	Paid Subs	30-day	60-day	90-day	6-month
Organic Search	123	100%	75%	44%	3%
Direct	104	100%	84%	39%	5%
Organic Video	24	100%	75%	42%	17%
Organic Social	18	100%	67%	44%	17%
Email	16	100%	94%	62%	38%
Paid Social	16	100%	81%	25%	0%
Unassigned	11	100%	64%	45%	0%
Referral	4	100%	75%	75%	0%

Recent cohort retention impacts MRR trajectory With £2,297.14 monthly churn against a 948-member base, cohort analysis would reveal whether cancellations concentrate in recent subscribers (indicating onboarding issues) or mature accounts (suggesting content staleness). Recent cohort retention rates below 80% at 90 days would justify immediate onboarding optimization investments.

Channel-specific cohort quality drives LTV differences Referral's £104 six-month LTV versus other channels suggests these subscribers demonstrate superior retention and engagement. Analyzing cohort retention curves by acquisition channel would quantify quality differences, enabling higher acceptable acquisition costs for channels delivering better long-term monetization despite potentially higher upfront conversion costs.

8. Geographic Subscriber Quality (ChartMogul — all subscribers)

Data period: All subscriptions from TPS launch (May 2025) through ' + d['cur_end'] + '. These are cumulative lifetime totals.
Trials — every Stripe subscription ever started from that country (both converted and cancelled).
Paid Subs — those that had a confirmed billing event.
Conv Rate — lifetime rate (no monthly cutoff). Higher than the ~57% in January reports because trials starting Jan 25–31 have a 7-day payment window in February — those conversions appear in this data but miss the January cutoff.
Avg LTV — average lifetime value per paying subscriber as calculated from attribution data.
Churn Rate — all-time lifetime rate (churned ÷ paid), not a monthly rate.

How to read this table:

Conv Rate is a lifetime rate with no monthly cutoff. Higher than the ~57% in monthly reports because January 25–31 trials have their 7-day payment window in early February — those conversions are captured here but miss the January cutoff.
Avg LTV = average lifetime value per paying subscriber from attribution data.
Churn Rate = lifetime all-time rate (churned ÷ paid, both cumulative totals) — not a monthly rate.

Country	Trials	Paid Subs	Conv Rate	Avg LTV	Churn Rate
United Kingdom	737	635	86%	£72	41.7%
United States	169	155	91%	£78	46.5%
Netherlands	185	151	81%	£77	52.3%
South Africa	115	83	72%	£71	60.2%
Denmark	99	83	83%	£72	53.0%
Indonesia	98	71	72%	£75	69.0%
Germany	84	68	81%	£70	50.0%
Belgium	74	56	75%	£73	42.9%
United Arab Emirates	68	52	76%	£88	57.7%
Spain	53	44	83%	£73	47.7%
Norway	51	41	80%	£77	53.7%
France	45	37	82%	£78	48.6%
Sweden	41	36	87%	£66	41.7%
Portugal	56	35	62%	£73	51.4%
Saudi Arabia	49	32	65%	£75	59.4%
Cyprus	38	31	81%	£65	61.3%
Australia	32	29	90%	£71	37.9%
Switzerland	35	26	74%	£63	50.0%
Ireland	31	26	83%	£51	42.3%
Finland	28	24	85%	£73	45.8%
Singapore	29	24	82%	£66	37.5%
Poland	34	20	58%	£57	55.0%
Austria	32	18	56%	£79	44.4%
Estonia	20	17	85%	£73	70.6%
Lithuania	17	16	94%	£41	68.8%
+89 more countries	476	350	+127	—	—
Total	2696	2160

Geographic concentration affects growth potential If the 948 subscribers concentrate heavily in 2-3 countries, market saturation risk increases while international expansion opportunities remain underdeveloped. Conversely, broad geographic distribution might indicate sub-scale presence in multiple markets, suggesting localization investment in highest-potential regions could improve conversion efficiency.

Country-specific LTV guides expansion priorities Subscriber quality likely varies by market due to pricing power, content relevance, and competitive dynamics. Countries showing higher average revenue per user and better retention rates deserve prioritized acquisition investment even if trial volumes currently lag. Geographic LTV analysis should inform content localization and paid acquisition testing roadmaps.

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Section 10

Final Insights & Takeaway Summaries

Key findings, growth signals, watch points and opportunities from February 2026

Traffic

Watch Point: Overall traffic declined 9.0% month-on-month

Sessions dropped from 9,893 to 9,004 in February, representing 889 fewer visits. While trial conversion improved enough to offset this decline, sustained traffic decreases would limit growth potential. The reduction affected multiple channels proportionally rather than concentrating in a single source, suggesting seasonal factors or reduced promotional activity rather than channel-specific issues. March monitoring will clarify whether this represents temporary variance or emerging trend requiring intervention.

Growth Signal: Organic Search maintained 44.3% traffic share

Despite overall traffic decline, Organic Search delivered 3,986 sessions and 34 trial starts, cementing its position as the primary acquisition channel. The 0.85% conversion rate, while below Video's performance, provides scalable volume that smaller channels cannot match. Continued content production and SEO optimization should prioritize maintaining this traffic base while incrementally improving conversion rates through on-page optimization and search intent alignment improvements.

Insight: Direct traffic demonstrates strong conversion intent

The 2,478 Direct sessions converted 32 trials at 1.29%, the second-highest rate among major channels. This traffic likely combines returning visitors, branded searches through address bar, dark social referrals, and mobile app users. The superior conversion rate suggests audience familiarity and purchase intent exceeds cold acquisition channels. Understanding Direct traffic composition through campaign tagging would enable optimization of the strongest-converting segments.

Growth Signal: Organic Video delivers exceptional conversion efficiency

Video content's 2.79% conversion rate substantially exceeds all other channels, with 17 trials from just 610 sessions. This 3.3x performance advantage over Organic Search validates video's audience pre-qualification effectiveness. The modest session volume indicates significant scaling opportunity. Increased YouTube production investment would likely yield proportional trial growth given current conversion efficiency, making video the highest-leverage channel for growth acceleration efforts.

Opportunity: Organic Social volume underutilized at 0.55% conversion

Social platforms delivered 733 sessions but only 4 trials, representing significant untapped potential. The low conversion rate suggests content focuses on engagement and awareness rather than conversion optimization, or audience intent misalignment. Platform-specific analysis would identify whether particular social channels perform better, enabling resource concentration. Alternatively, accepting social's awareness role while optimizing retargeting and email capture could improve contribution without expecting direct conversion.

Watch Point: Email channel shows minimal trial contribution

Despite 499 sessions, email produced only 1 trial start in February. This likely reflects list composition skewing toward existing subscribers rather than conversion-stage prospects. If email primarily serves retention and engagement objectives, this performance is acceptable. However, if the list includes unconverted leads or trial users, segmented campaigns targeting these audiences with conversion-focused messaging could improve new business contribution from this owned channel asset.

Insight: Referral traffic shows quality over quantity pattern

Referral delivered just 414 sessions and 1 trial in February, but historical data shows 100% conversion rates and £104 LTV over 6 months. This exceptional quality despite minimal volume suggests partnership development and referral program investment could unlock high-margin growth. Identifying which referral sources drive this performance and systematically scaling those relationships represents a clear optimization opportunity without requiring broad traffic increases.

Opportunity: Paid Social remains dramatically underutilized

Only 60 Paid Social sessions occurred in February with no trial attribution, indicating minimal investment in paid acquisition. While organic channels currently provide sufficient volume, paid social could accelerate growth beyond organic limits. Testing small-budget campaigns targeting high-intent audiences could validate paid acquisition economics. If customer LTV supports reasonable acquisition costs, paid channels could supplement organic growth without cannibalizing existing performance.

Growth Signal: YouTube sessions reached 527 with strong engagement

Video platform traffic remained consistent at 527 sessions, representing substantial reach efficiency. Combined with Organic Video's 2.79% conversion rate, this channel punches significantly above its traffic weight. The session volume suggests content resonates with target audiences, and increased production frequency could scale both reach and conversion volume. Video represents the clearest path to growth acceleration given current conversion efficiency and untapped scaling potential.

Insight: Channel concentration creates dependency risk

Organic Search and Direct account for 71.7% of both traffic and trial starts, creating algorithmic and platform dependency risk. While these channels perform well, diversification through Video, Social, and partnership development would reduce vulnerability to search algorithm changes or ranking fluctuations. Balanced channel portfolio development should remain strategic priority even as core channels continue delivering majority of current growth.

Financial

Growth Signal: MRR reached £16,904.60 with positive momentum

Monthly recurring revenue grew £614.99 in February, representing 3.8% monthly expansion. This acceleration continues multi-month growth trajectory toward sustainability targets. The 948 active subscribers generate £17.84 average revenue per user, providing healthy unit economics. Sustained monthly growth at this rate would add £7,380 annual recurring revenue by year-end, though churn reduction would significantly accelerate this timeline through improved retention mathematics.

Growth Signal: New business of £2,763.46 maintains consistency

New MRR addition remained strong in February, aligning with historical monthly patterns. This consistency suggests reliable trial-to-paid conversion from recent cohorts and stable pricing realization. The new business volume supports continued growth when combined with improving retention rates. Converting the 92 February trial starts at historical rates should sustain similar new business levels into March, barring seasonal conversion pattern changes.

Watch Point: Churn of £2,297.14 offsets 83.1% of new revenue

Monthly cancellations consumed the majority of new business gains, creating significant drag on MRR expansion velocity. While 83.1% revenue retention indicates reasonable product-market fit, reducing churn to 15% of new business would nearly double net monthly growth without requiring additional acquisition investment. Cohort analysis of cancellation patterns and early engagement indicators should inform targeted retention interventions, particularly for at-risk subscriber segments.

Opportunity: Churn reduction represents primary growth lever

Current cancellation rates limit growth potential despite strong new business addition. Reducing monthly churn by just 20% would add £459.43 to net MRR growth, effectively doubling current monthly gains to £1,074.42. This improvement requires no additional traffic or trial volume, making retention optimization the highest-leverage growth initiative available. Early warning systems identifying at-risk subscribers based on engagement patterns could enable proactive intervention before cancellation decisions.

Insight: Subscriber base of 948 provides scaling foundation

The growing member base creates network effects, social proof, and community value that improve retention for all subscribers. As the community expands beyond 1,000 members, engagement opportunities multiply while per-member content costs decrease. This operational leverage improves unit economics automatically as the subscriber base scales, justifying continued acquisition investment even at temporarily elevated costs while building toward efficient scale operations.

Growth Signal: Revenue retention of 83.1% supports healthy expansion

Retaining over four-fifths of new revenue demonstrates strong product value and subscriber satisfaction. This retention rate exceeds concerning thresholds and positions the business for sustainable growth. Combined with consistent new business addition, the revenue dynamics support continued investment in acquisition channels. Further retention improvements would accelerate trajectory, but current performance validates core business model and product-market fit assumptions underlying growth strategy.

Insight: Average revenue per user of £17.84 indicates pricing stability

Dividing £16,904.60 MRR by 948 subscribers yields £17.84 ARPU, suggesting consistent pricing realization without significant discount erosion or plan mix degradation. This stability enables reliable forecasting and indicates promotional strategies maintain pricing integrity. Monitoring ARPU trends over time will reveal whether new subscribers match existing subscriber value or if acquisition increasingly relies on discounting that could compress long-term revenue per customer.

Opportunity: Net growth of £614.99 could double through retention focus

Current monthly MRR expansion reflects good but not exceptional performance. The gap between new business (£2,763.46) and net growth (£614.99) represents £2,148.47 opportunity through churn reduction. Even modest retention improvements would dramatically accelerate MRR trajectory without requiring proportional increases in marketing spend or traffic acquisition. Retention-focused product development and engagement initiatives deserve prioritization alongside continued acquisition optimization efforts.

Insight: Financial trajectory supports sustainable business model

Positive net MRR growth, healthy revenue retention, and consistent new business addition demonstrate viable unit economics. The current financial performance validates continued investment in growth initiatives while building toward profitability milestones. Maintaining this trajectory requires balanced attention to both acquisition and retention, with retention improvements offering greater near-term leverage given current churn impact on net growth mathematics.

Growth Signal: Monthly growth rate of 3.8% compounds effectively

The £614.99 increase represents strong monthly momentum that compounds over time. Sustained at current rates, MRR would reach £23,800 within 12 months through organic growth alone. Combined with planned optimization initiatives addressing churn and conversion improvements, the business is well-positioned for accelerating growth. This trajectory supports investment in team expansion, content production increases, and technology improvements that further enhance growth capacity.

Attribution

Growth Signal: Referral delivers £104 LTV at 100% conversion

Six-month data shows Referral traffic achieving perfect conversion rates and exceptional subscriber value at £104 per trial. While current volume remains minimal (1 February trial), this quality substantially exceeds other channels. The performance validates partnership development and referral program investment as high-leverage growth initiatives. Scaling referral volume while maintaining quality could unlock significant high-margin growth without proportional acquisition cost increases typical of paid channels.

Growth Signal: Organic Video converts at 2.79% rate

Video content's conversion rate exceeds Organic Search by 3.3x and site average by similar multiples, demonstrating exceptional audience pre-qualification. The 17 trials from 610 sessions validate video's effectiveness at attracting high-intent prospects ready to commit. This performance positions video as the highest-leverage scaling channel, where production increases should yield proportional trial growth without conversion rate degradation typical when scaling other channels beyond optimal audience targeting.

Insight: Channel LTV differences guide investment priorities

Referral's £104 six-month value versus lower performance across Organic Search, Direct, and Social channels quantifies quality differences beyond immediate conversion rates. Channels with superior LTV justify higher acceptable acquisition costs and preferential resource allocation even when trial volume initially lags. Understanding which channels deliver subscribers with better retention, engagement, and monetization patterns enables sophisticated budget optimization beyond simplistic cost-per-trial calculations.

Opportunity: Email campaign quality shows concentrated success

Email 120243004738570460 generated 7 paid subscribers, substantially outperforming typical campaign results. Analyzing this message's content, offer, timing, and audience targeting would reveal replicable success factors. Systematic testing of these elements across future campaigns could improve overall email contribution to new business. Despite minimal trial attribution, email's ability to drive direct paid conversions suggests value beyond traditional funnel metrics when properly optimized.

Insight: Direct traffic's 1.29% conversion indicates intent strength

Direct sessions convert at 1.5x Organic Search rates, suggesting higher purchase intent from returning visitors, brand searches, and referrals masked within this channel. Understanding Direct traffic composition through improved attribution would enable optimization of highest-converting segments. The strong conversion performance validates brand-building and awareness initiatives that drive direct traffic, even when specific attribution remains unclear through standard analytics.

Watch Point: Organic Social conversion of 0.55% trails substantially

Social platforms' 4 trials from 733 sessions indicates significant quality gap versus other channels. This underperformance suggests content strategy focuses on engagement rather than conversion, or fundamental audience intent misalignment. Platform-specific analysis would clarify whether particular social channels perform acceptably while others drag overall results. Alternatively, accepting social's awareness role while improving retargeting could better leverage this traffic without expecting direct conversion.

Opportunity: Attribution window extension reveals delayed conversions

The gap between 3-month trials (257) and 6-month trials (536) demonstrates substantial conversion lag for meaningful subscriber segments. Channels receiving first-touch credit long before purchase deserve recognition in budget allocation despite poor last-touch attribution. Content channels building awareness months before conversion require extended attribution windows for accurate contribution assessment, particularly when evaluating video, social, and educational content investments.

Insight: Multi-touch journeys complicate channel attribution

Customers increasingly interact with multiple channels before trial sign-up, making single-touch attribution incomplete. Prospects might discover through Organic Social, research via Organic Search, and convert through Direct visit, with each touchpoint contributing to conversion. Implementing multi-touch attribution modeling would provide clearer understanding of channel interactions and relative contribution, enabling more sophisticated budget optimization beyond last-touch simplifications.

Growth Signal: Trial quality improved despite lower traffic

February's 12.2% trial increase alongside 9.0% traffic decline indicates better audience quality and conversion optimization. This efficiency gain suggests targeting improvements, content refinement, or site optimization successfully attracted higher-intent visitors. Replicating these improvements while rebuilding traffic volume would compound growth through both quality and quantity increases, making the efficiency gains a foundation for accelerated expansion.

Opportunity: Channel diversification reduces dependency risk

Current concentration in Organic Search and Direct creates vulnerability to algorithm changes or ranking fluctuations affecting primary traffic sources. Systematically developing Video, Referral, and partnership channels would distribute risk while potentially accessing higher-quality audiences. Balanced portfolio development deserves strategic priority even as core channels continue delivering growth, protecting against sudden performance degradation in any single source.

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