Yesterday I started doing my own year-end review.
- What went well?
- What went poorly?
- What was a surprise?
- What will I do next?
The point of this exercise is to try to get a perspective on the year as a whole. Something beyond the easy to measure metrics like revenue, AOV, etc.
The big metric for me is retention, represented by Repeat Purchase Rate. Since Repeat Customer Insights is a subscription app, tracking how many customers stay around from month-to-month is a key measurement.
It’s a key metric for your Shopify store too. If you sell subscriptions it’s probably the top metric you’re watching. For everyone else, it’s important for making sure customer acquisition costs are kept low.
Use cohorts to find out who the best customers are in your Shopify store
Repeat Customer Insights will automatically group your customers into cohorts based on when they first purchased. This will let you see how the date customers bought would impact their behavior.