In the eCommerce industry, latency is defined as the amount of time between two customer engagements with your eCommerce business such as last purchase date. For example, if Charles G. buys a pair of running shoes on July 1, 2014, and then returns to buy dress shoes on August 1, 2014, then his customer latency is calculated at 32 days.
In the sample data below, our customer retention software calculates customer latency. Notice how the median customer takes 100 days to make a second purchase, yet the third purchase happens in less than half that time (45 days) and the amount of time between repeat purchases drops again for the fourth purchase (in less than 30 days).
Using the data our software provides, you can create a retention strategy for latent customers.
Our eCommerce - email marketing software integrations provide the segmented data you need to create a successful customer retention strategy.
Request a free no-hassle demo to start retaining more customers or read how our client Spangler Candy sent ONE segmented "Win Back" email to lapsed customers that resulted in the highest day of eCommerce revenue EVER generated.