07/01/2024 | News release | Distributed by Public on 07/01/2024 10:06
Scaling a business depends on growing customer lifetime value (CLV) as effectively as possible.
And to do that, it's critical to understand and leverage how customers buy today- - how they make follow-up purchases, what they buy together, and when they return.
Without access to the right data or analytics tools, it's time-consuming and stressful to develop data-driven merchandising strategies and impactful marketing programs. Businesses find themselves using out-of-date analyses or making assumptions about purchase trends and customer behavior instead of accessing real, updated insights.
Without those insights, marketers often find themselves defaulting to blanket post-purchase follow-up times (like 30 days after any purchase) and sticking with promoting best-sellers together (regardless of purchasing trends) - instead of tapping into a true, data-informed merchandising strategy.
With Klaviyo's new product analysis, businesses have easy access to insights about repeat purchase timing and what products customers tend to buye bought together or in succession, answering questions like:
As a result, it's simpler than ever to promote the right products at the right time to drive repeat purchases- - and ultimately grow CLVcustomer lifetime value. Use bBuying behavior insights can be used to sharpen merchandising strategies, such as optimizing the timing and recommended up-sells in post-purchase flows, and creating recommended bundles for abandoned cart flows or sales.
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