When it comes to customer retention, one of the most effective activities you can do is to develop your 1st to 2nd order funnel.
This is all about getting a one-time customer to buy a second time.
The vast majority of ecommerce stores struggle here, often only getting 1-in-4 customers to actually make a second purchase. Getting even just one of those three remaining customers to buy again is a huge deal.
How you develop customers is up to you. Many people find success with New Customer Welcome campaigns but you can go in other directions too. Discounts, content marketing, customer events, tailored merchandising... the options are near endless.
Just make sure to track your performance or you won't know what's working. Repeat Customer Insights and its tracking of the Repeat Purchase Rate is the ideal combination to stay on the right path.
Eric Davis
Segment your customers automatically with RFM
Segmenting your customers has always been touted as a powerful marketing tool but many stores avoid it because it can be time-consuming.
Repeat Customer Insights will automatically segment your entire customer base for you based on the valuable data Shopify has already collected for you. Ranging from 5 to 30 to over 125+ different segments using RFM and other models, you can pick how much power you want to harness.