Once you calculate your Shopify store’s average orders per customer, you have the data needed to answer a variety of questions. Should you design a loyalty program around 5 orders or 10 orders? When should bonus gifts be added to an order? Are customers only ordering a second or third time, or are they ordering …
Tag: customer lifecycle
So many Lifetime Values, so little clarities
This week I was doing some research on how to calculate a customer’s Lifetime Value (aka LTV, CLTV, CLV, CV, BBQ, LOL, TLA…) It seems that no one agrees on even a definition of what Lifetime Value is, let alone how to calculate it. For some people it’s the sum of the amounts a customer …
Have you contacted your customers recently?
As a rule of thumb, you should be contacting a customer at least once every 30 days. The best method is an email newsletter but you can also (physical) mail them or call them. Less than that and they’ll start to forget about you. Especially if you’re in an industry with high levels of contact …
Riding the peak of 2020 into 2021
Today marks the winter solstice for half the world. It means many things for different people, including feasts and religious ceremonies. For me, it marks the turning point of winter after which the garden will start back up. Until now plant growth has been slow and mostly just stayin’ alive (stayin’ alive…), but the additional …
Using spring flowers to time your business cycle
With a mild winter so far the spring flowers are in full bloom here. They save up their energy during the winter and have a burst of growth that brings a smile to everyone. Spring is the time when I focus on new features in my Shopify apps. Photosynthesis sadly doesn’t work on software yet …
When should you contact your Shopify store customers?
One question I get frequently from Repeat Customer Insights customers is, when should I contact customers? The simple answer is: frequently and as soon as possible. But that’s not useful is it? Based on the data I’ve seen, the biggest gap Shopify stores have with repeat customers is getting a new customer to come back …
Dangers of using Lifetime Value with your Shopify customer acquisition plan
Customer lifetime value (LTV or CLTV) is a useful metric for a lot of things in Shopify. One area where I like to urge caution with it in as part of your customer acquisition budget. The common advice is to make sure you spend less to acquire a customer than what they contribute to your …
How mobile has fractured the buying cycle
A few months back I heard about some socks that are strong enough to walk on broken glass with. They’re even strong enough to walk on LEGO without any pain. If you’re a parent, you know that LEGO bricks are designed to be 23% sharper and more painful than broken glass. Fact. I checked them …