The First Product Analysis in Repeat Customer Insights has been expanded to include the Average LTV and Average Order Value for both products and variants.
This shows how items in the original order will influence later customer behavior across four factors:
- Average Order Value - order size
- Repeat Purchase Rate - likelihood of coming back and buying again
- Average LTV - lifetime value of the "average" customer
- Total LTV - influence on total lifetime spending
It should make it easier to figure out which products to promote, which to keep, and which to closeout.
If you don't have Repeat Customer Insights yet, signup and select the Entrepreneur or above plan to get access to the First Product Analysis.
Eric Davis
Market to your customer's timing
Figure out how long customers wait in-between purchases and you have a key component for your marketing timing. This is the basis of the Average Latency metric and Order Sequence Report in Repeat Customer Insights.