Customer Lifecycle Analysis
The Decile app can be used to better understand the customer lifecycle for your brand. Clients have used the insights from this workflow to:
- Improve their email sequencing within their ESP, ensuring that they are hitting customers at the right cadence
- Set up triggered series to ensure they proactively retain their most valuable customers.
Step 1: Request Lifecycle Segment Thresholds
Lifecycle segments are automatically kicked off for every brand onboarded to Decile. The segments are built off of interim purchase time (IPT) and break your customers into four lifecycle stages
- Just Purchased - Recent buyers
- Active - Customers that still have time to make their next purchase
- At Risk - Customers that should have come back to make their next purchase already
- Lapsed - Customers that may no longer be active with the brand
Given that the segments are built on IPT, the thresholds are unique for each brand.
To get started using your lifecycle segments, ask your Customer Success Manager to email you the thresholds for your brand.
Step 2: Apply Lapsed Threshold to Lifecycle Report
Once you have the thresholds, you can utilize the lifecycle report to discover insights into your brand's customer lifecycle.
To make the report as helpful as possible, we recommend adjusting the churn threshold to reflect your lapsed threshold in months.
So, if your lapsed threshold is “>450” days, then you would update the churn threshold in your Lifecycle Ecomm report to 15 months.
You should save this as the New Lifecycle Report for your business to reference.
Ecomm Reports can be saved “Save as New Report” button at the bottom right of the screen.
Step 3: Review Data
Once the report is configured a few commonly asked questions during this analysis are…
When do customers become sticky with my brand?
The likelihood of another purchase visualization below can help you better understand the highest leverage points in your businesses customer journey.
How should I be sequencing my retention efforts?
The median days to subsequent order visualization below can help you understand the timing of customer purchases at different points in the customer journey.
Step 3: Share & Act
Let other people in your organization know about this data and provide them with a login to view it themselves. There is no seat limit at Decile so everyone at your organization can have access.
You can immediately begin trying insights around customer timing in your ESP.
The lifecycle stages are also stored as an attribute in your UI. This gives you the ability to create audiences of customers in different thresholds for use across your marketing platforms.
