In the book Drilling Down, Jim Novo makes a lot of great points about when customer lifetime value (CLTV or LTV) matters. One of their main points is that the absolute value doesn't matter much at all. LTV should be used to select the campaigns that generate customers with the...
Seth Godin wrote about the state of DTC advertising and why it always leads to ruin. His solution is simple, though not easy: Your (current) customers need to bring you your (new) customers. Eric Davis Segment your customers to find the diamonds in the rough Not all customers are equal...
Some variants will outperform others. Compare the sales of each variant, feature the best, and consider dropping the worst. For a deeper view, look at how each variant contributes to your customer's LTV using Repeat Customer Insights. Some variants might under-perform at first but end up hooking better customers. They...
As a follow-up to last month's customer tagging release, customer grades are now included in the tags. That means you can have Repeat Customer Insights analyze your customers, grade and segment them, and get access to all of those in your Shopify admin. It also means any tools that can...
For repeat customer performance, Profit from repeat customers is the best metric to watch. Being based on profit, it's a core business metric. Direct costs to acquire repeat customers will tend to be lower than new customers. Indirect costs could be higher as repeat customers could use a greater portion...
Since swearing off buying from Amazon a few years back, I've found myself preferring Shopify stores that support Shop Pay. The big part is my familiarity with Shopify and knowing that my card details are going to be safe. Over the years I've had merchants leak various details due to...
Today marks the last workday of the quarter. Next week starts Q4 with the whole holiday marketing rush. For myself, most Shopify stores, and people involved in ecommerce that means starting to get everything finished before things get really busy. With the end of the quarter, it's also a great...
Awhile back I heard a method for thinking about changes you want to make. I haven't used it much since then until this year while planning my development for Repeat Customer Insights. It can be summarized in three words: Add Change Stop The idea is that any change to your...
Being able to preview your customer segments is important to make sure they are setup as you'd expect. To help with that, Repeat Customer Insights now includes the ability to filter the customer segmenting by the Customer Grade. It also includes a short description of the grade, some advice, and...
Recently we ordered some products from a Shopify store and used their sizing charts to figure out which would fit. Problem was, when the products came the sizes were so off they were useless. We ended up having to re-order (multiple times) to get the right size. While it was...
Each tip includes a way to improve your store: customer analysis, analytics, customer acquisition, CRO... plus plenty of puns and amazing alliterations.