TOP 5 Analyses for Online Shoe Retailers

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TOP 6 Analyses for Online Shoe Retailers

Exponea’s consultants focus on helping our clients achieve sustainable growth of their revenue and profit. We’ve asked our specialist Daniar Rusnak, who’s our most experienced consultant for online shoe retailers, which analyses helped him deliver the most value for his clients.

#1 Customer Retention Cohort Report

Customer Retention Cohort

Customer Retention Cohort Report is arguably the most important top-level source of insights for marketers to evaluate their customer database health and can tell them whether their business is actually retaining the customers.

How does it work?

By grouping customers into monthly segments based on their initial purchase date and visualizing that on a timeline, you are presented with a report which tells you how many customers which you’ve acquired in the previous months still purchase on your online store.

Actionable takeaways

  • It indicates whether or not you need to invest more into retention
  • Helps you to understand long-term purchasing habits and create relevant communication
  • AIds in identifying acquisition periods which generate the most loyal customers

#2 RFM Analysis

RFM Analysis

RFM is core marketing analysis that provides a way for marketers to clearly spot and define customer segments based on key behavioral patterns – recency, frequency and monetary value.

How does it work?

RFM approaches customer data from three perspectives. How recently they’ve purchased, how frequently they purchase and how much they spend. These insights help marketers to split their customers into highly actionable & insightful segments.

Actionable takeaways

  • Identify customers who bought recently and spend the most
  • Detect seasonal customers
  • Reactivate lost high-value customers

#3 Optimal Time to Send Reactivation Emails

Days to second purchase

Have you ever wondered how to understand the time patterns of your reorders? What is the best time to send an automated upsell email to your customers?

This analysis helps marketers define the best time to send automated emails after an order occurs.

How does it work?

To create this analysis you need to calculate the individual time between orders, for customers who have made more than 1 order. To do that, you have to calculate the number of days between the individual orders, plot it on a graph and analyze the ideal time to reactivate customers.

As an example, in a case when 15% of reorders occur within 7 days and 65% within 30 days of an order, the ideal time to reactivate the customers would be between 7 and 30 day intervals.

Actionable takeaways

  • Visualize your reordering pattern
  • Identify the most common reordering pattern
  • # of days from which to send an automated upsell email

#4 Reordering Patterns for Upsell

Reordering patterns

Discounts are an important and effective acquisition tactic. However, discounts also decrease a product’s perceived value. This analysis helps marketers understand the value of the initial 10% discount on the tendency to reorder.

How does it work?

Divide your paying customers into two cohorts, based on whether or not their first order was discounted. Then study their likelihood of reordering as time goes on.

Often enough, customers who have ordered with an “acquisition discount” were more likely to reorder and become a loyal customer. If there is a difference, calculate the added value of the acquisition discount over a 3 month period forward.

Actionable takeaways

  • Understand the impact of your acquisition discount strategy
  • Optimize the % or value of your discount
  • Consider the different kind of acquisition discounts your e-commerce could offer

#5 First & Last Click Attribution Analysis

First and last click attribution

What part of my pitch convinced my customer to buy my product? This is the question each marketing department wants to know.

First and Last click attributions are the most practical way of understanding your attribution. Channel attribution helps marketers to understand which channels brought customers to their online store either as a first touch or by the time of conversion.

How does it work?

By logging customer traffic history, marketers are able to find out which channel was the first that customers used to get to their online store and which channel brought them the conversion.

Actionable takeaways

  • Focus performance marketing on channels generating conversions
  • Launch brand awareness campaigns on channels which generate the most first customer visits
  • Understand how many visits it takes to the first conversion

Would you like to use these analyses for your business as well?

The easiest way to do it is to request our demo. Together we will discover ways how Exponea can positively impact your business along with these analyses.

These were the 5 TOP performing analyses which we’ve helped our clients in online shoe retail to create with the use of Exponea. We are currently working on an e-book especially crafted for online shoe retailers which should be published in the next few days. Be sure to check back here for a link which will be added to this article once the e-book goes live.