Divide your customers into segments to understand which groups continue to actively buy, and which have started to save or have already churn. You can start with cohort analysis. This is the simplest method of segmentation, where we divide customers by standard parameters: city, gender, product category.
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Cohort Analysis in Email Marketing and Other Areas
During segmentation, it may turn out that the decline in sales bank data is related to a specific group of buyers, and it is necessary to work specifically with them. For example, focus on marketing and offers for this specific group.
Mikhail Eremin
CRM Marketer
Let's say sales at a pet store have dropped.
Step 1.We segment customers by product type, pet type and age. We see a pattern: the drop in metrics affected only kitten owners. We change communications, advertising campaigns and product range only for this segment.
Step 2.We go further and break this segment into sub-segments by the age of the kittens. We see that the drop in sales is observed only among kittens in the transitional period before adulthood. We conclude: owners are transferring their pets to food for adult cats earlier than necessary - which means we need to convey to them the information that this is wrong.
Step 3.We conduct RFM analysis for all users or within a cohort. We segment customers by three criteria: recency of the last purchase, frequency of purchases, and amount of spending (monetary). This will help identify the most valuable customers and understand at what stage they churn.
Additionally, if a client ordered pet food once a month and did not order it this month, it makes sense to remind him about the purchase. The main thing is to return his attention in time, before he loses interest.