The Performance Marketing Metric You Can't Afford to Ignore

Performance marketing can feel like a never-ending game of whack-a-mole. Just when you think you've got all the metrics under control, a new one pops up and demands your attention. But there's one metric that you absolutely can't afford to ignore, and it might surprise you.

Are you ready for it? Drumroll, please...

It's repeat purchase.

I know, I know. You were probably expecting something more exciting. But trust me, repeat purchase is the unsung hero of performance marketing.

Here's why:

First off, repeat purchase is a strong indicator of customer loyalty. If someone is willing to buy from your brand more than once, that means they're happy with what you're offering. And as we all know, happy customers are the key to long-term success.

Secondly, repeat purchase is more cost-effective than acquiring new customers. It takes a lot of time, effort, and money to attract new customers, especially in crowded markets. But if you focus on retaining the customers you already have, you can increase your ROI without breaking the bank.

But wait, there's more! Repeat purchase is also a great way to gather customer data. By tracking who is buying from you multiple times, you can gain insights into what products, messaging, and offers are resonating with your audience. You can then use that data to fine-tune your marketing strategy and create even more loyal customers.

Why repeat purchase % indicate the health of your customer acquisition funnel?

If we know that our repeat purchase % is declining over months or weeks, there is no point of pouring money to get the customer on top of the funnel. You fix the funnel first! The decline in repeat purchase can mean either -

• Your product or service is dropping the ball
• There is new sheriff in town , and your product needs to compete with that
• The pricing has gone for the toss , and you need to fix that first!

If sole of your shoe has holes, you don't add graffiti on top of your show to make it look beautiful. You mend the sole of the shoe!

So, how can you leverage repeat purchase in your performance marketing strategy?

Here are a few ideas:

• Offer incentives for repeat purchases, such as discounts or freebies.
• Focus on providing an exceptional customer experience to build loyalty.
• Use customer data to personalize your marketing messages and offers.
• Make sure you're accurately tracking repeat purchase so you can monitor your progress over time.

In conclusion, repeat purchase might not be the sexiest metric in performance marketing, but it's one that you absolutely can't afford to ignore. By focusing on building customer loyalty and tracking repeat purchases, you can create a sustainable source of revenue for your business. So the next time you're playing whack-a-mole with your marketing metrics, don't forget about the unsung hero that is repeat purchase.