The more orders each client places, the better returns you get on acquisition costs, which means higher profitability. This makes your brand more financially stable so you can invest in development, expansion and so on. Besides, a loyal fanbase who come back again and again is probably the best marketing asset out there!
Since retention is long-term, you need to monitor customer behavior over time and see how different factors influence it. Cohort analysis is the standard here because it puts customers in cohorts according to their first interactions (purchase, time, campaign, etc.) and follows how loyal over time these cohorts are. You see what stimulates loyalty and when you lose people, which insights become the basis for a retention strategy.
Metrilo monitors all activity on site and even reports historical data to give you the most context and insights about your buyers. You see what they have been browsing, what they’ve ever bought, how often they shop, where they come for each visit and how much they’ve spent. With this understanding of how they shop, you can build positive relationships with customers.
When you know the impact of individual products and campaigns on long-term client retention, you can focus on the products and initiatives that bring in loyal customers and drop the ones that do not contribute with a good repurchase rate or high CLTV. Also, insights into the product impact on customer experience is crucial for DTC brands and might save you from a big flop. Last but not least, all this accumulated behavior data shows seasonality and typical behaviors so you will be prepared for the holiday season, special shopping days and so on.
Metrilo combines data and email to build better customer relationships. Thanks to the cohort analysis you will know when to send emails for optimal conversions and what offers to use for each customer segment. Relevant emails at the right time to create a positive customer experience as opposed to the blanket, spammy approach by other stores. Your brand will shine as considerate and meaningful while.