The One-and-Done Buyer Problem
Driving second purchases from first-time buyers presents enormous revenue potential in both the short and long term. But getting those second purchases often proves difficult for retailers. So what does it take? You've come to the right place.
Dive into the data to understand:
Why the second purchase is the most important purchase
The second purchase is arguably the most critical purchase because driving a second purchase from one-time buyers is essential to unlocking future repeat purchases and increasing customer lifetime value.
Why the second purchase eludes so many retailers
Despite all the opportunity that comes from the second purchase, crossing the chasm from first purchase to second purchase is typically the most difficult for retailers. That’s because many retailers fail to take into account common second purchase patterns to create more targeted outreach for one-time buyers.
How to use customer data to turn one-time buyers into two-time buyers
Unlocking your second purchase opportunity comes down in large part to understanding your customers, their behaviors and your products. Most importantly, you need to take the time to understand your ideal window of opportunity for driving second purchases and the products that are most likely to help drive those purchases.
Four tips to put your second purchase strategy into motion
As you start tapping your customer, behavior and product data to drive more second purchases, it’s critical to pay close attention to the timing of your outreach, your product recommendations, the channels on which you reach customers and how you will automate your efforts to make them scalable.