Updated September 23, 2023
The Customer Lifetime Dashboard provides comprehensive insights into customer behavior and spending patterns.
It presents key metrics like the total number of unique customers, the proportion returning, their average spend, and the average time since their first purchase.
The dashboard features a 9-field matrix that categorizes customers by order count and recency of purchase, highlighting active, at-risk, and churned customers.
Furthermore, it offers visual distributions showcasing order counts and customer lifetimes. It also charts cumulative spending over time post-first order and displays data on new customer spending within their initial month, emphasizing the significance of first-time purchaser behavior.
The dashboard uses Shopify as a datasource, it can be filtered by storename.
Customer Lifetime dashboard helps e.g. performing:
- Retention Analysis: By examining the 9-field matrix, managers can identify active, at-risk, and churned customers. This allows them to design targeted retention campaigns, re-engage at-risk customers, and revitalize inactive ones, optimizing their customer retention efforts.
- Budget Allocation: Using the "Cumulative Total Spent by Months Since First Order" and "New Customer Spending During the First Month of Customership" data, managers can understand spending behaviors and allocate marketing funds more effectively. For instance, if a significant portion of new customers doesn't reorder, the manager might invest more in post-purchase engagement.
- Product Strategy and Planning: The dashboard's visuals on order count distribution and customer lifetime duration enable managers to discern purchasing patterns. Recognizing these trends helps managers tailor product offerings, introduce timely promotions, and strategize inventory planning based on customer behavior and lifecycle.
Customer Lifetime Dashboard Elements
- All-Time Customers: All-time unique customers who have placed an order.
- Returning Customers: All-time customers with more than one order and the share of all customers.
- Average Total Spent: Average customer total spending after returns.
- Average Customer Lifetime: Average time between customers' first order date and today.
9-Field Matrix of Customers
In this matrix customers are grouped into 9 categories based on their order count (vertical axis) and time since last order (horizontal axis). Change of customers is compared to the last 30 days. User can open the list of the customers and their details by clicking specific category number.
- Customers in the left-most column have placed their last order recently and are labelled as active.
- Customers in the middle column have placed their last order some time ago and are in danger of turning into churned customers.
- Churned customers on the right-most column have placed their last order a long time ago.
- Customer Distribution by Order Count visualisation shows the order count distribution of the customers in absolute (customer count) and relative (share of all customers) terms.
- Customer Lifetime Distribution visualisation shows the distribution of customers' lifetime duration (time between the customer's first and last order). Customers with only one order have a lifetime of 0 months.
- Cumulative Total Spent by Months Since First Order charts light green area chart shows the average cumulative spending after returns by months since first order. The dark green line shows the number of customers who have placed an order X months after their first order.
- New Customer Spending During the First Month of Customership chart columns show the count of new customers each month (month of the first order). The line graph shows the customers' average spending after refunds during their first month of customership. New customer spending is especially important if a significant portion of customers is not making new orders.