Many customer metrics used in ecommerce are summarizes of the behavior of all your customers.
How much they spend in each order is summarized into Average Order Value.
How much they spent over their lifetime is summarized into Average Lifetime Value.
And so on.
This got me thinking a few months ago, if many metrics are just summarizing customer behavior, aren't they just creating a profile of the average customer?
That's exactly what they are doing, but without being clear about it.
I'm happy to announce a new Focus dashboard has been added to Repeat Customer Insights, Average Customer.
This page unites these summary metrics into one place so you can see what your average customer would be. How much they spend, how long they are buying, how many orders they place, etc.
With this you can better forecast your marketing results. e.g. If we acquire 100 customers, how much should they spend and how long will they be buying? If we need $20k more revenue next month, how many customers do we need to attract?
Like the other Focus dashboards I'll be adding pieces to it over time as I find common behaviors from the deeper analyses.
This page has been released so all stores on the latest plans will have access to it in the app. Just go to the Focus On: Average Customer page.
If you're already using Repeat Customer Insights I hope this gives you a better idea about your typical customer behavior.
If you're not a customer yet, there's a demo version with sample data you can poke around or you can sign-up for the 14-day free trial.
Eric Davis
Get a complete view of your customer behavior
The cohort analysis in Repeat Customer Insights will automatically build cohorts for all of your customers. It has the ability to go back through your entire store history so you can get a complete view of your customer behavior.