With rising digital ad costs and dwindling ad space, stores like yours are fighting tooth and nail for the same customer attention as your competition. But are you beating them out? Ad space is becoming increasingly expensive. Retention marketing, on the other hand, can set your brand up for success.

But what is retention marketing? Well, in short, it is the efforts your store takes to get customers who have bought from you in the past to buy more from you more often.

The key to retention marketing is understanding the metrics. Metrics give you a deeper understanding of your customers and their behaviors, allowing you to build experiences that turn one purchase into multiple purchases.

But what are these metrics? How do you measure them? More importantly, how do you improve them? Answering these questions will equip you with the tools you need to build a retention strategy that has an amazing and lasting impact on your store’s profitability.

In order to do that, we’re going to look at three of the most impactful retention metrics and how other companies have used them to build thriving brand loyalty.

How to Calculate Repeat Customer Rate?

When it comes to measuring retention metrics, it’s easy to get lost in a sea of complicated calculations. That’s a problem if you’re like me and math isn’t your strongest subject. Thankfully, calculating your repeat customer rate is extremely simple and only requires two pieces of information: