I’ve warned about how some analysis systems hype what they do. You’ve probably seen it too with those venture-based AI-everything companies that come out every month now. A little while back Shopify released a Predicted spend tier analysis for a merchant’s customers. This rated the customer as a High, Medium, or Low based on four …
Tag: customer analysis
Let a computer do the boring analysis
My kiddo plays a game where you have to guess the five-letter word of the day called Wordle. You have six guesses to get it right. Yesterday she saw the dictionary on the bookshelf and asked if it would be cheating if she used that to look for every five-letter word. We then had a …
Start improving customer reorder behavior
Changing customer behavior can be difficult but it pays off. Let’s take an example customer. Say they spend $76 on average and order every 2 months (60 days Customer Purchase Latency). They’ll have six orders in a year for $456 spent in your Shopify store. What if you speed up their orders so they order …
Are holiday customers dormant or gone?
We have a side yard that’s difficult to grow in. Last year I planted a variety of things and only two survived. The area gets lots of sun in late spring and summer but nothing in other seasons so many of the perennial plants struggle. It sucks to put things in and have them fail …
Picking one and only one metric for customer analysis
I was thinking, if I had to pick one and only one metric to look at for customer analysis, I think I’d pick Recency. That’s the first part of the RFM model and while I’d rather use the whole model, the Recency would be a good single metric. Recency tracks how recent a customer has …
An easy way to start with your store analysis is to look at last week
One report in Repeat Customer Insights is highly recommended for new accounts. That’s the Monday Morning Metrics. This report is emailed out every Monday to account subscribers (plus a web version you can review). It summarizes key metrics for your store over the last week. New order totals Number of customers who ordered Number and …
Common customer analysis circumstances Shopify stores run into
Awhile back a Shopify store using Repeat Customer Insights asked me for advice about where to start with the analyses. I wrote them back a few ideas to get them started and planned to come back around to the question in more depth for you. I kept putting it off though because there are so …
Discover if your customers are becoming more loyal over time
One question I hear a lot is: are customers becoming more loyal? Making that question easy to answer was the basis that drove the new Customer Grid compare I added to Repeat Customer Insights. Previously you’d need to consult a variety of metrics to measure loyalty. Repeat Purchase Rate for retention, customer counts to know …
How does your customer base evolve from month to month?
With December here, now is a good time to look at how November changed your customer base. Are more customers becoming loyal and frequent buyers? Or are more defecting and not coming back? Are customers spending more money in each order, or less? The month-by-month Customer Grids in Repeat Customer Insights can make this easy …
New period comparison insights added to Repeat Customer Insights
Repeat Customer Insights has received updates to its data analysis and insights engine. Now the Store Analysis and Customer Purchase Latency reports will automatically compare the various metrics to how they performed in the past. You can select any year or quarter available in your account and the app will analyze the performance compared to …