I was asked recently:
How often does customer behavior change?
Every day.
Every day new people can decide to become your customers.
Every day current customers can decide they are happy with your products and check back to see what you're selling.
Every day past customers can decide to try out a competitor.
Not every customer changes every day, even in the fastest moving industries. But every day your customer base changes. Some tiny changes that you can't detect. Some big changes that you can if you're looking for them.
That's why it's important to be continually analyzing your data with Repeat Customer Insights or your own system. There's a lot of changes you miss if you only look every few months.
This is also why I recommend setting aside a dedicated time each week to review. I recommend Mondays because that's when the Monday Morning Metrics are emailed out. That's a good summary of the week and a way to start your analysis conversations.
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.