Retention data is extremely valuable in establishing the buying trends of your existing customers. Maintaining a relationship with a repeat customer is generally easier than continually acquiring new customers. Retention analytics can be grouped into three fundamental questions:
• How recently did a customer purchase a product from you?
• How often a does a customer make a purchase?
• How frequently does a customer make a purchase?
Recency refers to the timeline of a customer’s last purchase. The goal of this information is to learn about customer behavior surrounding the purchase (not just the purchase itself).
The Days Before First Purchase report illustrates the amount of time a ...