Occasionally, I am asked what to do with a startup product, brand, or channel. In other words, you launch a new product, and after four months, you want to get an idea what the annual retention rate might be for customers purchasing from this new product.
This is where you use a life table to guess at what might happen.
The life table tells you the probability of a customer purchasing again in your embryonic product line. Once you have the details, you estimate the corresponding annual rate.
Later, I'll include a case study on this topic.
Helping CEOs Understand How Customers Interact With Advertising, Products, Brands, and Channels
Subscribe to:
Post Comments (Atom)
Old School
From 1996 - 2006 a great transition happened. As e-commerce took hold, customers shifted behavior. Behavior shifted in two ways. Customers w...
-
It is time to find a few smart individuals in the world of e-mail analytics and data mining! And honestly, what follows is a dataset that y...
-
It's the story of 2015 among catalogers. "Our housefile performance is reasonable, but our co-op customer acquisition efforts ar...
-
Yes, Gliebers Dresses is a fictional series designed to get us to think about things ... if business fiction is not your cup of tea, why no...
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.