A Repeat Customer Insights customer emailed asking how to measure improvements in their customer segments each month: We are putting together a strategy of measuring our tactics in these numbers. A few items we are hoping to look at is what % of our customers are at risk, what percentage...
If you had to choose one metric to watch for measuring new customer performance, I'd pick profit from new customers. This is based on a core business metric (profit) but segmented for new customers only. It would include the costs to acquire the new customers (CAC) and any overhead costs...
A simple way to evaluate customers is to compare them to your hypothetical average customer. Has this customer ordered more or less often than the average customer? Does this customer spend more or less in each order than the average customer? Does this customer order sooner or later than the...
Recently a Repeat Customer Insights customer was asking about customer defection. By default, RFM is used for detecting customer defections (specifically, low Recency scores) but other metrics can be used too. Average Latency is a good next step for defection detection. It can add a finer view on if a...
If your store is like most Shopify stores, only about one out of every four orders today will end up buying again. Which one though? That's why it's important to measure and adapt to your customer behavior. If you don't, you might miss out on that returning customer. If you...
When figuring out how to profitably acquire customers, you need to know how long a customer will stick around. It's a big difference if your customers only order one or two times VS a dozen times. Customer LTV can be used with this but it looks way in the past...
Just about everyone who researches the effectiveness of returning customers vs new customers comes to the same conclusion: Repeat customers are better in almost every way. So why is so much more attention given to acquiring new customers? I can understand the volume argument, the "my repeat customers aren't enough...
Normally this weekend I'd be planting tomatoes and other warm veggies in the garden. But this week we had a record-setting snow storm for the area. Not just for how much, but how late it was. My DIY greenhouse took some damage but most of the plants seem fine with...
Awhile back the idea of "mobile-first" websites started to grow. It meant a change in how websites are build. Instead of building a website for a regular desktop user and then trying to shrink it all down to fit on a phone, developers would build the phone-sized system first and...
Since about mid-February we've been talking a family walk every weekday. Shortly after we started, the kiddo found a house with a flock of adolescent chickens. Early on they were just large fluffy chicks. Now they are looking like mini-chickens and starting to show different behaviors. They went from running...
Each tip includes a way to improve your store: customer analysis, analytics, customer acquisition, CRO... plus plenty of puns and amazing alliterations.