With customer segmentation, you can break down your customers into smaller, more detailed groups depending on their purchase behavior and target them even more specifically.
Segmentation for an eCommerce store can be done in various groups some are described below
Best customers are customers who have become your store's topmost fans.
Loyal customers are customers who are satisfied with your product and services. They would never dream of doing business with anyone else.
New big spenders are your recent customers who have purchased a good amount of products.
Big spenders always do big purchases from your store.
Active low spenders purchase low ticket products from your store.
Recent customers are who have recently started shopping with you.
At risk customers are those customers who are dissatisfied with your product and services and can leave you anytime.
Inactive customers have done shopping with you in the past but not have done it for a long duration.
Lost customers have moved to another store and no longer do shopping with you.
Customer shift shows you track record of your customer progress over a period of time.
You can get a detailed analysis of your customers who come to your store as new customer and converts into repeated, registered, and active respectively.
Average customer lifetime
A customer’s average lifetime is the average time a customer remains active before they drop off and go.
Churn rate is a business metric that calculates the number of customers who leave your store over a given period of time, divided by total customers. Customer churn is vital to understand the health and stickiness of a business.
Customer retention rate designates the percentage of customers the company has retained over a given time period. The retention rate is a reverse side of the churn rate.
Churn vs Retention Rate
This KPI shows you a comparison between churn and retention rate over a period of time.
New vs Repeated
It shows a comparison of new vs repeated customers over a given period of time.
Purchase frequency is the number of times an average customer buys a product from your store in a given period.
Product vs Customers
It shows a number of customers of your top ten selling products.
Refunders vs Refund
Refunds are a part of business regardless of whether you sell a physical product or a digital product.
This metric shows your top refunders and refunds that they have made. This data helps you to track store refunds.