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Compare Your New Vs Returning Customer Ratio For The Year

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Compare Your New Vs Returning Customer Ratio For The Year

Whenever there's a recession, slowdown, or any other kind of downturn a lot of advice shifts from customer acquisition to customer retention.

It makes sense as new customers cost much more to acquire and thus create less profit in the short-term. A store with a healthy returning customer rate will be able to survive downturns more effectively.

In light of that advice, I've added a new metrics to the downturn analysis in Repeat Customer Insights:

New vs Returning customer ratio

This metric will compare how many new customers you've acquired this year and compare them to the number of returning customers. By using the current year you can see more easily see the latest customer behavior.

As always, the full Returning Customer Rate can be filtered by period or acquisition source. This pulls that information out and puts it next to other analyses important during downturns.

Eric Davis

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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

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