Analyze Your Products And Find Which Create The Highest LTV Customers


Regularly analyzing your best selling products is a good idea.

You can go one step beyond that by analyzing how your products lead to customers, specifically high lifetime value customers (LTV). These customers are likely to be some of your best customers so by knowing what they purchase you can prioritize your merchandising around them.

To do this take each product and find which customers ordered it at specific times (e.g. 1st order, 2nd order, etc). Then find out what those customer’s LTV is and rank your products based on the Total LTV.

You’ll end up with something like this:

(This is taken from the Nth Product Analysis in the Repeat Customer Insights demo)

Looking at this sample, the Thick Wool Gloves are a key product with both the Average LTV and Total LTV higher than any other product.

This means customers who buy the Thick Wool Gloves in their first order are coming back and spending more money in their return purchases. Those should be promoted heavily and new merchandise developed similar to them (e.g. thin wool gloves, 3-packs, etc)

Best-selling products are still great but add in an analysis like this to find the best-customer producing products.

If you this analysis done for you, it’s included in Repeat Customer Insights. It also includes a version that go into variants so you can see which variants are best.

Eric Davis

This originally appeared on the LittleStream Software Blog and is made available here to cast a wider net of discovery.
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Steve has entrepreneurship in his DNA. Starting in the early 2000s, Steve achieved eBay Power Seller status which propelled him to become a founding partner of, a contact lens and eyewear retailer. Four years later through a successful exit from that startup, he embarked on his next journey into digital strategy for direct-to-consumer brands.

Currently, Steve is a Senior Merchant Success Manager at Shopify, where he helps brands to identify, navigate and accelerate growth online and in-store.

To maintain his competitive edge, Steve also hosts the top-rated twice-weekly podcast eCommerce Fastlane. He interviews Shopify Partners and subject matter experts who share the latest marketing strategy, tactics, platforms, and must-have apps, that assist Shopify-powered brands to improve efficiencies, profitably grow revenue and to build lifetime customer loyalty.

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