Building a successful business entails more than just acquiring new customers. It is also necessary to understand customer retention. New customers are critical to the success of any business. But what's good in acquiring new customers if you don't know how to keep them?
With our retention report, you can better understand your new and existing customers' behavior. Keep track of your retention rate, gain insights into customer behavior, and adjust your retention strategy based on data.
Our retention report will assist you in recognizing your current level of retention and then tracking the change after implementing a new retention strategy. The more loyal your customers are, the faster you will be able to achieve your business objectives.
Analyzing retention helps to build a successful marketing strategy and to assess the effectiveness of your customer retention efforts.
To check your Retention Report, navigate to Dashboard > Retention report:
Pick the timeframe you are interested in (monthly/weekly data) and check your metrics:
The main retention insights to focus on are:
Returning customer rate;
Revenue from returning customers;
Returning customers average order value;
Revenue data analysis, which includes total revenue, as well as revenue brought by first time customers and returning customers during the selected period of time:
Customer data report that shows the total number of customers you gained, as well as first-time and returning customer rate:
Customer retention analysis is an essential component of your customer retention and marketing strategies. You can reduce churn, improve customer satisfaction, and increase revenue by utilizing the data you collect by tracking customer behavior and studying these important metrics.
How soon do the new orders appear on retention report?
Retention report is updated each 30 minutes, so any newly placed order will be included in the report in 30 minutes.
What is the starting point of the report data?
The oldest point that you can choose is a year ago. Also, the system analyzes the historical data of 2 years earlier from the date you’ve chosen.