In the world of e-commerce, there’s always something shiny and new around the virtual corner. Keeping a customer’s attention and encouraging repeat business is one of the major challenges every retailer must overcome, and it doesn’t matter whether you’re brand new or old hat. For every business, there’s a point at which they lose a customer for good if they haven’t brought them back in for a repeat purchase. We refer to this as the “lapse point.”
Maintaining a successful online business is a complex juggling act. Not only do you have to do the work of setting up and maintaining your site, you also have to manage inventory, craft compelling copy, figure out the best marketing avenues, create advertising, build email campaigns, keep an eye on your social media profiles, work out shipping issues, and so much more. All of these moving parts make it difficult to sit down and focus on a specific issue, so doing an in-depth data analysis to determine your lapse point can often go by the wayside until it’s far too late. Where do you even start? Let us tell you.