In Repeat Customer Insights I developed the Customer Grids so it's easier to see visually how RFM works to segment your customers. By combining two RFM components, the three grids are able to describe a large amount of customer behavior in one area. Recency-Frequency (RF) Grid The Recency-Frequency Grid shows...
Using cohorts in your customer analysis is a great way to start segmenting customers. Cohorts can be confusing though. They sound a lot more advanced then they really are. What is a cohort? A cohort is simply a group of people who show similar behavior at the same time. Everyone...
One problem with analytics systems like Repeat Customer Insights is knowing where to focus. The systems can assemble a lot of data, convert it into information, and present it in numbers, charts, or graphs. But going from there to actual business decisions and changes is the gap. In the app...
Alfons was asking about how the cumulative cohort option in Repeat Customer Insights works. When you enable Include Previous Months (cumulative), each column adds the ones from the left so there's a running total. For example, lets use the regular cohort analysis. If you look on the row 2022-01, when...
One of the great benefits of a cohort analysis is that you can compare how time changes customer behavior. When cohorts are month-based, like in Repeat Customer Insights, you can compare the vertical columns to see how customers behave after e.g. 1 month, 2 months, 6 months. That'll let you...
Scheduling your marketing campaigns can take a lot of guesswork. You want to have customers come back and buy as soon as possible, but you don't want to piss them off and have them leave forever. You also might have entertaining or educational content that isn't hard pitches, but that's...
Customer retention can be a tricky problem with Shopify stores. Most stores don't have subscriptions or subscriptions aren't their main transaction type. That means each order has the potential to be the last order from that customer and you won't know until it's too late. You never really know if...
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...
Each tip includes a way to improve your store: customer analysis, analytics, customer acquisition, CRO... plus plenty of puns and amazing alliterations.