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The Number of Items in a Shopper’s First Order Indicates Future Behavior
A whopping 62% of customers will never place a second order from an online retailer’s site. In fact, only 16% of customers will ever make more than three orders. To generate repeat business, it is imperative for an online retailer to understand how consumers behave during their first transactions and then do everything it can … Continued
Smart CRM Basics: Predictive Customer Behavior Modeling
This is some smart CRM: Rather than trying to make educated guesses based on analyses of historical data – Predictive Behavior Modeling is typically used to select the BEST marketing actions to run in each of your customer groups and to identify which customers will likely change their spending level. Predictive Behavior Modeling goes way … Continued
There’s Much to Learn About Your One-Time Customers
So, you’ve managed to convert a customer. That’s great, but what now? The data teaches us that 30% to 80% of customers in the e-commerce industry will only purchase once during their lifetime, and only around 60% in the gaming industry will place their second deposit. How can you gain long term customers with these numbers? … Continued
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