At the moment, you are tracking all of your marketing activities and evaluating them against plans you have defined. These activities are related to the customer acquisition process, which is expensive but a necessary process for attracting new customers to your store. In a well oiled online business, this process is followed up on by turning these newcomers into regulars, who make subsequent purchases and bring additional profit into your pockets. To help you manage this value creation process, Roivenue provides Customers section.
This is the primary dashboard for customer retention tracking, which displays how successful you are in navigating newcomers into becoming a high value, premium customers. There are several steps between these two border states and the newcomer’s (or Prospects) progress through these steps.
As it is visible on the picture above, there are six of these steps, which group customers by their level of engagement with your business in the recent months. These six customer groups are:
These six different tiles, each representing one customer group, are showing count of customers in the group as of today. Therefore, these counts are not affected by changes made in the top right side date filter. This filter affects the arrows, which are signaling number of transitions between the groups. These transitions can be displayed in three possible modes accessible in the upper right-hand corner:
On bottom left side of the screen, there are three tiles with aggregate numbers, which are affected by the selected time period. These display:
The "Customer Segments" section can give you an overview on the relative size and strength of the various customer segments week by week. These segments are defined in this article above. To select specific groups, a segment popup on the right side can be used. The line graphs in this section, which can be found by scrolling down the page, present the following time series:
This page displays the transition between the groups over time. There are three possibilities of data visualization:
Analysis in this section is based on user IDs extracted from your CRM. You can utilize the Exports section to get user IDs enriched with metadata from Roivenue Customers section to be later used for optimisation of email campaigns or other retention activities.
The period after which we begin to regard a customer as lapsed is set by default to 180 days. This may be tailored to better fit your needs, to do this customization, please contact your Client Success Manager.
Interaction with the Customer Story can be aimed to identify bottlenecks in the navigation process. If, for example, there are many lapsed customers between the first time buyers and second time buyers, it would be a good idea to look deeper into this transition and alter communication to these customers to decrease the amount of lapsed. Results of this test can be evaluated either here or in the Customer Transition section.