In this example, I look at 18 month 1x customers who purchased exactly two items in their first order. Then, I layer on top of this analysis the number of merchandise categories the customer purchased from in a first order.
Ready for the results?
- 18 Month 1x Buyer with 2 Items in First Order, 1 Merchandise Category = 5.58% Rebuy Rate.
- 18 Month 1x Buyer with 2 Items in First Order, 2 Merchandise Categories = 7.28% Rebuy Rate.
Do you see what happened there?
The customer, even 18 months after buying, who purchased 1 item from 2 categories instead of 2 items from 1 category was 7.28/5.58 - 1 = 30% more likely to repurchase in the next year.
We just keep on stacking wins here.
- More items matters.
- Independent of items purchased, AOV size matters.
- Selling at full price matters.
- Selling best-selling items matters.
- Multiple categories (after controlling for items purchased) matters.
Dig into your database today (not tomorrow), create these attributes, and get busy identifying the reactivation candidates that you want to prioritize!
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.