Using Your Store Data To Find Hidden Opportunities

using-your-store-data-to-find-hidden-opportunities

The data every Shopify store creates contains numerous hidden opportunities.

Using Repeat Customer Insights you can unlock many opportunities but even then, there’s always more analyses that can be done to find more. Analyses I’ve never thought of or ones that only apply to your specific store. That’s why it’s important to have the option to take the data and slice-n-dice yourself (or hire someone to do that for you).

In the app you can easily export a copy of the data the app uses to build the reports. The export also includes downloadable versions of many of the reports which can also be analyzed.

I feel that keeping the data accessible to stores is a guiding principle that goes into how I build software.

With this approach, I’ve heard of some interesting approaches merchants have used to look for opportunities:

  • Reviewing top customers to send them postal mail thank you cards.
  • Creating custom segments, separate from the RFM segmenting.
  • Segmenting customers inside each of the cohort analyses (segments of segments).
  • Loading customers into a email marketing or automation platform.
  • Creating a custom Facebook/Google audience for the best customers.
  • Creating a lookalike audiences to attract new customers similar to your best customers.

Every account in Repeat Customer Insights has access to the data export, as it’s not locked behind the most expensive plan.

It comes with a 14-day free trial so you can see how it works and find some opportunities right away.

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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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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