In order for a business to generate a long-term, sustainable profit, new customers need to be driven to your site, existing customers need to be satisfied and ideally, existing customers should become repeat customers. For this to happen, it’s essential to have a deep understanding of how your customers behave in relation to your brand— luckily, the tools to get these insights are more readily available than ever before.
With key customer metrics such as churn rate and average revenue per user at your disposal, you can determine which parts of your business strategy are effective and which parts need a fine tune! Taking a data-led approach to analyzing the behavior of your customers will allow you see why they chose you over a competitor, how they respond to your marketing and in precise detail, how they interact with your brand online.
For more information on which customer metrics you should be looking at, check out our infographic below: