An extremely valuable analysis technique that’s often overlooked is to evaluate how your customer base changes over time.
Not just demographic data (e.g. they are getting older) but how your different customer segments make-up your customer base as a whole.
- Are you getting more loyal customers?
- Are so-so customers defecting or becoming loyal?
- Are your best customers sticking around?
- Are spending habits trending up or down or flat?
Adding this time dimension to your customer segments can draw out a ton of ideas and trends.
It’s not easy to do and takes time to collect enough data, but once you have that data it can be priceless. Repeat Customer Insights collects and saves that data as part of the Customer Grid History but even it only hints at what can be done with it.
If you can find the time to collect and run those analyses, you’d get an excellent view into the health of your customer base. I look at mine every month to get a feel for how things are evolving.
Eric Davis
