Segmenting customers into different groups is valuable but it's often easy to go a bit crazy. I'm not talking Mad-Hatter silly-crazy. More pull-out-your-hair-and-scream-crazy. When it comes to customer segmentation you want to keep it understandable. You can use a lot of algorithms or AI but at the end of the...
A well-done cohort analysis should make it easy to compare how a cohort is performs compared to other cohorts. Some cohort analyses will tell you the raw numbers (1,000 customers, $1,984,000 sold, etc) which is helpful to see the size of the cohort as a whole. Raw numbers only will...
Optimizing your customer analytics for repeat customers can have some surprising results. When you're acquiring new customers, a 10% boost in traffic should add around 10% to your revenue. It's linear. Improve your repeat customer metrics like the Repeat Purchase Rate by 10% and you'll often see much more than...
Following the redesign of my website, I'm now able to take advantage of my programming knowledge to add new features. One feature that I've finally finished is my Topic list. This page lists all of the various topics I write about and has pages that link to each relevant article....
RFM being a three-component model makes it difficult to picture how it works. If you can visualize a 3D cube in your head, that's how RFM represents your entire customer base. But each individual customer would be a 3D point inside that cube, making it hard to visualize. Instead of...
Repeat Customer Insights has a new metric being tracked now. Returning Customer Rate: Percentage of customers who have placed their second or later order in this time period, with their first order placed anytime. This metric was a bit controversial. In the majority of the industry, Returning Customer Rate and...
The data every Shopify store creates contains numerous hidden opportunities. Using Repeat Customer Insights you can unlock many opportunities but even then, there's always more analyses that can be done to find more. Analyses I've never thought of or ones that only apply to your specific store. That's why it's...
Awhile back a Repeat Customer Insights customer and I were chatting about segmenting and their business goals. The discussion brought up pain points that many Shopify stores have so I wanted to share the answers with you. The discussion meandered a bit so I'll re-organize it for you so it...
In customer analysis, Whales are the customers who are placing large orders with your store. Their orders are big enough that you probably double-check that the order is legit. You might think you can just sort your customer list by the total spent and that'd be enough, but you'd run...
Your Shopify store's Average Order Value is very personal. It will be different than just about everyone else's, even others in your industry. The more similar you are to your competitors, the closer it'll become. This personal performance of your Average Order Value means you have to use your own...
Each tip includes a way to improve your store: customer analysis, analytics, customer acquisition, CRO... plus plenty of puns and amazing alliterations.