Retention Analytics

Retention Analytics help you to implement appropriate strategy by analyzing retention analytics. With marketing activities, it is expected to acqusition before the regular customer retention process, and then convert your visitors to customers (conversion). Actually it is not the end. Visitors converted to customers are expected to be retained. It is also of great importance to retain the customer, which is earned as much as the acquisition of new customers, without making any distinction in the sector.

Retention rate; it is calculated by dividing regular customers to total customers. A regular customer is in which the company is in contact with and engages with these customers (purchase of products / services) and will be in a relationship with the future customers. The total number of customers is customers who do not make purchases on a regular basis but still buys your products or services.

Retention rate = The number of regular customers / The number of total customers

The customer to visit your website and made his first purchase is the customer that has been acquired for the company. The customer, who shows continuity in his / her behavior, has the characteristics of a regular customer. So, the visitor who visits your site and makes the purchase is the acquired customer. Visitors have become customers at this time(conversion). If shopping continues at regular intervals after this purchase, the customer enters the regular customer group.

Regular customers are expected to display purchase behavior at regular intervals. At the point where the purchase is not made, there is a risk of the loss of the relevant customer. At this point, it is necessary to deal with the customers in the risk zone, to provide the products or services that they may be interested in, or to communicate the problem one-to-one. If the customer does not make the purchasing action with the work done in the risk section, this customer will be lost customer now.

With the acquisition of new customers, the costs of retaining regular customers are different, as will be predicted. According to most markers, the cost of acquiring new customers is five times more than the cost of keeping regular customers. With Cohort Analysis on Related Digital, you can easily review how long the regular customers visit your site after their first purchase, how much they buy during the ongoing period, when they look at the product and when they bought it.Thus, you can determine whether the customer is in the risk zone according to the behaviors that your regular customers show within your site.

At the same time,convert 2% of your customers who made first purchase to regular customers will reduce your costs by 10%. The segment module at Related Digital will help you to analyze the buying behavior of your new customers and help you make these customers a regular customer.

Parent Topic: Segment