Check On Your Shopify Store’s Customer Retention Regularly

check-on-your-shopify-store’s-customer-retention-regularly

The best time to plant a tree was twenty years ago, the next best time is today.

Just like the best time to review your customer retention is continuously, the next best time is today.

Retention is usually ignored by Shopify stores until it’s too late. It’s not as attractive or click-baity as customer acquisition, but that’s what makes it such a powerful technique.

Depending on how important you make retention for your store, you might decide to look at it every day.

I like look at retention metrics once or twice a week. Since my app is a subscription app, it’s pretty consistent from day-to-day. A store selling one-off products might need to review their metrics every month while one that sells at a high-volume might check it everyday.

When it’s time to review, look at these metrics and compare how you performed last month, last year, and then historically over all-time:

Reviewing each one for big changes (positive or negative) should only take a couple of minutes each time. Though you’ll usually want to dig into why each of them changed, but that can lead you to ways to improve in the future.

You can get a hand reviewing these metrics in your Shopify store by using Repeat Customer Insights. It calculates many retention metrics automatically for you across various time periods and even segments the metrics by how the customer was acquired.

Eric Davis

Segment your customers automatically with RFM

Segmenting your customers has always been touted as a powerful marketing tool but many stores avoid it because it can be time-consuming.
Repeat Customer Insights will automatically segment your entire customer base for you based on the valuable data Shopify has already collected for you. Ranging from 5 to 30 to over 125+ different segments using RFM and other models, you can pick how much power you want to harness.

Install Repeat Customer Insights for Shopify

Topics: Customer retention Customer loyalty Repeat purchase rate

This originally appeared on the LittleStream Software Blog and is made available here to cast a wider net of discovery.
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Author

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 VisionPros.com, 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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