By combining key purchase metrics with insights from product performance, you can unlock strategies to improve customer lifetime value (LTV) and maximize sales.
1. Increase Repeat Purchases
If your Orders per Customer metric is low, consider these strategies:
Introduce a subscription model for popular products.
Use email campaigns to engage past buyers with discounts or special offers.
Launch a loyalty program that rewards repeat purchases.
2. Reduce Cart Abandonment
If abandoned product rates are high, consider:
Streamlining your checkout process.
Adding trust signals like secure checkout badges or clear return policies.
Sending automated abandoned cart emails with discount incentives.
3. Increase Average Order Value (AOV)
To improve AOV:
Offer free shipping above a certain purchase threshold.
Create product bundles that encourage higher spending.
Upsell and cross-sell related products during checkout.
4. Optimize Product Positioning
Identify your best-performing products and:
Feature them in new customer acquisition campaigns.
Promote these products prominently on landing pages and ads.
For less popular products, consider:
Running special promotions or discounts.
Improving product descriptions, images, or customer reviews.
Example Scenario
Business Context: A home fitness brand sees that their Black Short Sleeve Crew Neck Tee is both the most purchased and the most frequently abandoned product.
❗ Action Plan:
Feature the Black Tee in targeted ads since it's popular.
Implement an abandoned cart email campaign offering 10% off on the Black Tee.
Add user reviews and sizing information to reduce uncertainty and improve conversions.
Bundle the Black Tee with a related product (e.g., workout shorts) to increase AOV.