Many marketing tactics start out by trying new things to see if they attract customers and then doubling-down on the ones that do. Shopify has a ton of difference sales channels that you can use to attract customers. I’d bet for your store, three of them are really good, another five are profitable, and the …
Tag: customer acquisition
Measuring the impact of customer acquisition sources on their likelihood of repeat orders
How you acquire a customer matters a lot when it comes to their repeat buying behavior. Customer coming from a word-of-mouth directly to your online store will act differently than customers coming from a Facebook ad, which will act differently from ones who visited your physical store. You can measure the likelihood of a repeat …
Your repeat customers can become your store’s safety net in lean times
What if your advertising costs per customer doubled next week and never went back down? Through no fault of your own, ads just became more costly to acquire a new customer. Some Shopify stores run so tight of advertising margins that they’d have to cut off their ads. Others might be able to survive but …
Use Shopify’s sales channels to find where loyal repeat customers are coming from
The executive-level goal of your marketing should be to secure at least one marketing channel that regularly brings you buying customers. This is your foundational channel. You can and should experiment with new channels too, but those are only experiments to see if you can get the channel to stabilize and produce that regular flow …
What kind of a payback period should paid acquisition target?
When running paid acquisition campaigns like Google Ads, you should be targeting a payback period. That means, on average a customer has paid back their acquisition costs by a certain point of time. Basically you want to know at what point a customer has produced enough profit to pay for the advertising that attracted them. …
Better data from Shopify means better channel analysis
When I launched acquisition source tracking for Repeat Customer Insights, I had to rely on the order sources and sales channels self-identifying themselves. Meaning Shopify’s online store used web, their point of sale used pos, and a handful of apps used the name of their app like Bold Checkout or Excelify. Every other order source …
The grass of customer acquisition
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 to keep my business going …
Breaking down customer acquisition sources for each cohort
Knowing where customers come from is important for customer analysis. When you know which sources create quality customers, you can shift more resources to them and away from low-quality sources. Repeat Customer Insights will now analyze and breakdown which acquisition sources lead to customers on a per-cohort basis. This will help answer the questions “where …
Spot customer acquisition issues with the Customer Grid and RFM
Comparing the Customer Grids in Repeat Customer Insights can help you spot customer acquisition issues. The New and Promising New segments include customers who have only purchased one time. Their main difference is how recently they purchased. Comparing them month-to-month, you’ll want to check their counts. If the counts are increasing, you’re acquiring more new …
Comparing sales channels for repeat customer acquisition
Knowing how sales channels perform is a key measurement to know where you focus your efforts. Raw sales and order values are nice, but if you have repeat customers those can be tricky. If a customer first buys through your POS system and then later buys from your online store, is the POS or the …