Retention is key to a sustainable business
Understand your retention and repeat purchases by monthly cohort of new customers
Take action each month to drive up your retention and observe if it's working thanks to this analysis
In the Monthly KPIs for e-commerce template, we talked about the importance of having repeat customers.
This template helps you understand how often your repeat customers buy something from you.
And it shows you that by time, that way you can easily understand of some actions you've undertaken and the impact on the retention.
For each month, we look at all the new customers and whether they buy again in subsequent months.
If in January, you decide you want to improve your repeat purchases and start testing a new newsletter for example, then you can check whether the repeat purchases for the new cohort of new customers in January is higher than before.
If it is, then you know you're onto something, if it isn't, perhaps you could try a different approach.