Imagine you are the marketing manager for an online eCommerce store. It’s Friday afternoon and your boss emails you with a last minute request: “We are behind on our monthly revenue goal. I would like to figure out our top 3 buying segments and create an email campaign that targets them with an exclusive offer. Can you please let me know what our top three buying segments are, what the average order value is for each, and the total revenue generated over the last year?”
Panic sets in. You have absolutely no way of pulling this data and you don’t even know where to begin.
Your boss then emails you back saying that she would like that data before Monday morning. You are now in full panic mode…
Today’s eCommerce marketers have a tough job. Their main objective: create brand awareness and drive revenue through marketing campaigns in the most economical way possible.
The challenge for you, as an eCommerce marketing manager, is how do you compete against big box retailers that have endless resources? They’re big, they can out market you, and they have the tools at their disposal to easily handle last minute data requests on a Friday afternoon.
You need to optimize everywhere you can, and the easiest place to start is by having a better understanding of who your customers are so that you can build a loyal customer base. Fortunately, Springbot is here to help.
As you know, the springbots are constantly working to improve and enhance the Springbot experience for our customers, so you can easily improve the experience for your customers. As we head into the busy holiday season, we wanted to unveil a new look for the Custom Segmentation List Page and the Segment Detail Page within our Springbot dashboard. The redesigned pages offer a fresh, intuitive look and feel for finding and learning about your store’s different customer segments – allowing you to easily understand your top three buying segments, what their average order value is and the total revenue generated over the last year for those segments.
The new Custom Segmentation List Page includes:
- a search feature that allows you to quickly find any customer segment by name
- a sorting feature to help you view customer segments in a variety of ways. Some of our favorites include purchase and demographic data, as well as by highest revenue, orders, average order value (AOV) or customer lifetime value (CLV)
- Segment Badging (or icons) next to each customer segment’s name to show you the criteria for each segment (so you can confirm that is the type of segment you want to view)
- the ability to “Star” segments for quick reference when you return in a future session
- a quick snapshot of revenue, orders, AOV and CLV for each segment (in addition to customer count as seen in the old view)
The new Segment Detail Page includes:
- a navigation bar and user controls which allows you the ability to edit and update your segments at the top of the page
- the ability to see how many orders have been made from customers in a particular segment
- a graph that visually highlights what percentage of your customer base is represented in this segment as well as a comparison of the segment’s CLV versus your store’s average CLV (this answers two key questions: how big and how valuable is this segment?)
- an expanded performance graph that shows 36 months (previously 12 months) with the option to view the graph by orders and AOV in addition to Revenue
- an updated demographic reporting section that has been expanded to include key data points like education, marital status, and presence of children as well as gender, age, and income
Here’s what the new Segment Detail page looks like:
These are just a few examples of the customer segmentation reports that Springbot offers. These reports are more than useless metrics – they provide key insights into who your customers are, what they purchase and how this impacts your revenue and ROI. And the next time your boss asks you to pull last minute reports on a Friday afternoon you can say, “Would like me to also pull information on their purchase behavior and what their CLV is?”