I've been getting more fond of cohort reports lately.
They present a lot of data all at once which is overwhelming at first, but the more you work with them the easier they get.
What I've been enjoying is using the cohorts as a quick way to watch customer acquisition trends.
I'll look at last month and the month before and compare them to how this month is going. But not the whole cohort, only the initial month. This ensures I'm looking at only the new customer behavior in the month which is only acquisition.
Using June as an example, I'd compare:
- June's metrics vs
- May's metrics in Month 0 vs
- April's metrics in Month 0
The Month 0 part is key, otherwise you'll pull in later behavior (e.g. April's cohort who came back in May or June to buy again).
In Repeat Customer Insights where Month 0 is laid out vertically, this is easy to compare as you just read down the column.
This process keeps new customer behavior separate from repeat customer behavior so you can spot acquisition problems before them grow to big to handle.
Eric Davis
Optimize your promotion timing to save money and attention
Repeat Customer Insights will analyze a ton of customer behavior data for you, including their buying cycles.
If you knew exactly when the majority of your customers were ready to buy again, you can increase your orders and profit just by tweaking your message timing.