omg who will buy such an expensive tool?

The other day I got a comment about Repeat Customer Insights:

omg who will buy such an expensive tool?

While I can agree with not wanting to spend money needlessly, the phrasing of this remark is interesting.

With businesses there are two factors you should use to decide before investing in a tool.

1. Can you afford the price and any other costs?
2. Do you expect you'll benefit from the tool more than its cost?

The commenter was probably doing a knee-jerk response to only the first part. Maybe $29 a month is a lot for them and their business.

But really it's the second part that should take most of your focus and decision energy.

Will knowing your best customers from your worst customers let you make better decisions about your business? Perhaps by improving your marketing campaigns, ad spends, or discounting policy.

What about knowing the patterns of your customers buying habits be useful? Maybe by knowing when to reach customers at the exact right time to win them back?

Though simplistic, these are the kinds of questions you should be asking before investing in an app or any other non-trivial purchase.

I even do this for a lot of my non-business purchases. I'm surprised how much value I'm getting out of a basic hammock.

If you're interested in learning more about how Repeat Customer Insights can help your store, feel free to check out its app page.

Eric Davis