December 1st marks the close of the important November customer cohort.
This group of customers are the ones who first bought in November. Typically the majority from your Black Friday deals. This makes them important to monitor over the next year:
- Did they buy again or did were they a holiday shopper only?
- How much did they spend on repeat purchases?
- How difficult will it be to convert them to repeat buyers?
- etc...
If you use Repeat Customer Insights, its Cohort Analysis can automatically calculate some of those answers for you. It can even go back and calculate them for years past.
Spending the few minutes to review the November cohort can help you understand them and learn how to reach them better. Or you might learn they are just one-time shoppers and it's not worth treating them any different.
Both options can pay off over the long-term.
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.