After operating your Shopify store for awhile you might come across an unsettling fact. The majority of your customers aren’t coming back. Typical stores only have around 27% of customers come back a second time. Meaning 73% of customers disappeared after their purchase. Some will have gotten what they need, but there’s bound to be …
Tag: retention
Using Lifetime Value (LTV) as your retention metric for your Shopify store
There are a lot of different metrics you can use to track customer retention and loyalty. Lifetime Value (LTV) is a good one for many stores. Since it measures how much a customer has spent already, it’s clear and straight-forward to calculate. That’s why it’s used a lot with paid advertising. LTV has some drawbacks …
Retention-first
Awhile back the idea of “mobile-first” websites started to grow. It meant a change in how websites are build. Instead of building a website for a regular desktop user and then trying to shrink it all down to fit on a phone, developers would build the phone-sized system first and then scale it up for …
The five core marketing metrics
I’m starting to unify much of my marketing around a set of core metrics. There are five general categories: Traffic Leads Conversions Retention Revenue I then adapted them for Repeat Customer Insights to fit its business model (subscription software as a service): Traffic became Total traffic Leads became App installs Conversions became Trial completions Retention …
Tracking retention for different types of Shopify stores
Yesterday I was going through the sales process for Repeat Customer Insights and assigning one metric to watch for each stage of the process. I’m doing this so I have a focus for optimizations. At a glance I can see where problems arise and the overall health. (I’m also using the Green/Yellow/Red light system which …
Even the best marketers forget about retention
Savvy marketers will calculate their Customer Acquisition Cost (CAC) to make sure they are acquiring customers cheaply enough to turn a profit. Most of that goes towards upfront costs like advertising or paid deals, leaving very little to actually retain a customer. Which is silly because retaining the customer will boost how much they spend …
Send your customers a goodie package to boost customer retention
I had to upgrade one of my infrastructure services for Repeat Customer Insights. It out-grew the plan it was on. Instead of just locking me out or upgrading me automatically, their support reached out to me. We ended up having a conversation about trying to squeeze back into the old plan but I still couldn’t …
Plan to lose the majority of your traffic and customers in the long-term
I’ve planted a few hundred beans in the garden this year. Every time I plant beans, only about half of them survive past the baby stage. I’ve learned to expect to lose many of them to slugs, squirrels, and poor soil in general. I can do some things to minimize the losses but nothing works …
How marketing strategies mirror plant lifecycles
Last week I received a couple of perennial kale plants along with seeds to grow another couple hundred. Perennials are useful food plants. Since they can live for years they take more planning and patience than annuals (which will only live for a year-ish). You have to research what kind of environment it needs, how …
Too busy for customer retention
I heard from a Shopify store that they are too busy for customer retention because all their time is focused on customer acquisition. They didn’t realize that they were the ones creating the problem with their business. When you ignore customer retention, customers will leave. Some might stick around but those will be the minority. …