For years I've been wanting to add product analysis to Repeat Customer Insights.
There are a lot of great behavioral data you can get from orders, but products have their own great data points especially around initial customer behavior (i.e. what causes the first purchase).
I'm happy to announce that the first product report is now available in the app, the First Product Analysis.
In this report, the app will analyze your products to find which products where first ordered by customers and how much those customers end up spending (LTV).
For example, say you sell a single-pack and four-pack of your coffee. This report will show you if customers ordering the single-pack or the four-pack ended up spending the most over their lifetime, regardless of what their later purchases were.
The report is available to stores on the Entrepreneur and Growth plans with different levels of data reported (number of products, variant reporting).
If you're not on those account levels or you want to get access to more insights on the Growth plan, you can upgrade your account at any time.
And like all of the other reports in Repeat Customer Insights, the data is pulled and analyzed automatically for you saving you time and confusing setup steps.
This is the first of many product analyses I have planned. If you have any questions or ideas for others, send me an email.
Eric Davis
Segment your customers automatically with RFM
Segmenting your customers has always been touted as a powerful marketing tool but many stores avoid it because it can be time-consuming.
Repeat Customer Insights will automatically segment your entire customer base for you based on the valuable data Shopify has already collected for you. Ranging from 5 to 30 to over 125+ different segments using RFM and other models, you can pick how much power you want to harness.