By July, a new statistics report will complete the iAdvize administration series! With this new report, you will be able to analyze your customers’ repeat purchase rate in the last 12 months with the ability to visualize it per month. Find out now why this report is going to be very useful to you:
Your 5 new key metrics
The repeat purchase rate, but what is it exactly?
The repeat purchase rate is the percentage of buyers who have made a first purchase and then a second one or more in the last 12 months.
The average number of repeat purchases per repeat purchasers
How many repeat purchases have been made by a repeat purchaser in the last 12 months?
This new data can help you measure the engagement and loyalty of your customers.
The average order value of the repeat purchase
It’s the average amount of repeat purchases in the last 12 months.
The repeat purchase turnover per repeat purchaser
It’s the average turnover generated per repeat purchaser in any given period.
The repeat purchase turnover per buyer
It’s the average turnover generated per buyer. This data allows you to know how much you earn per buyer in any given period.
Measure the impact of your customer service
Each data set previously defined is divided into 2 versions:
- 1) The visitor has had a conversation with iAdvize and has made a purchase during the period
- 2) The visitor hasn’t had any conversations with iAdvize but has made a purchase during the period
The comparison between these two versions allows you to measure the impact that your customer service has on sales on a monthly basis. It can also help you develop an even more efficient customer service strategy (improving your engagement strategy for example) and even greater results!
A report adapted for your requirements
Different sectors have different needs, that’s why this report is adapted to your requirements and allows you to visualize your data with a repeat purchase frequency based on 30, 60, 90 or 180 days.
For example, a travel eCommerce website is likely to choose a repeat purchase calculation based on 180 days whereas a food delivery website is likely to calculate the repeat purchase rate on 30 days.