This week I've been working on a new report for Repeat Customer Insights.
I will write about the report when it's completed but while working on it an interesting question came up.
One section of the report calls out who was your best customer.
When I started to code that up it got me thinking, what does best customer even mean?
For some stores it might be the customer who has spent the most.
Other stores might be a customer who is constantly coming back and ordering.
Or maybe it's someone famous and influential.
Have you ever stopped to think about what your best customer would be? What attributes would they have? Does the rest of your team share that same definition?
Having clarity about what makes up your best customer might make your sales and marketing easier.
For the new report in Repeat Customer Insights I defined the best customer as the customer who has reordered the most frequently. But your answer might be different.
(Side note: In my research I came across a mention of a study that showed, statistically speaking, the better customers are the ones who have ordered most recency and frequently. Basically the high RF segment of the RFM analysis. The study name wasn't mentioned but this is definitely something I want to dig up later.)
If you haven't installed Repeat Customer Insights yet, it's a simple process to get a detailed look at your customer behavior and start seeing how it automatically segments them.
I've also added a way to export the analyzed customers to a file so you can even import it into other systems (e.g. Facebook for a custom audience, Excel for some deeper segmentation)