You might have or haven't noticed spikes and lows in your revenue. Since our goal is to help you optimize marketing spend and messages, Metrilo helps you turn this knowledge into extra cash.
Analysing your customers by the month of their first purchase will give you a pretty good picture of seasonality in your niche - you might even be surprised.
One client of ours discovered their products made great Valentine's Day gifts, something they hadn't considered before - and used the opportunity.
How to identify seasonal trends with cohort analysis?
- Go to the Retention Analysis tab and switch to Cohort by months view.
- Look for months with really low retention rate (share of returning customers). For the majority of stores, these months will be November and December because holiday shoppers are not very loyal - they often buy gifts for others and are not personally interested in your brand.
Tip: Leave out the last 2-3 months because not enough time has passed to see the real retention there.
3. However, other months can be bad, too, and that's your low point - was anything different during that month? Maybe your team got the flu and customer service suffered? Or you had a bad batch of product? Once you know where to dig, fix it.
4. Finding gems is possible, too. One cohort exceeding all the rest with a retention rate of over 45%? Did you run a VIP program back then? Or produced your best content? Definitely, replicate the trick of this month to lock in more customers in the same loyal ways.