Harnessing Customer Data Insights To Drive Sales and Loyalty

In today's competitive landscape, a nuanced understanding of customer behavior is not just an advantage — it's a necessity to win. To illuminate the purchasing habits of its customers who sign up for an account via its self-service platform, a leading national office supply store partnered with Goodway Group to identify the latency from account sign-up to first purchase, analyze repeat purchase patterns and pinpoint repeat order favorites. By gathering and analyzing this data, the store hoped to glean insights to inform and enhance marketing strategies, refine products and enrich the customer journey to reach its ultimate goal: unmatched sector dominance.

Goodway Group worked alongside the office supply store chain to conduct a comprehensive month-long investigation into its self-service account sign-up to first purchase audience segment — and we tracked key performance indicators (KPIs) to better understand the self-service customer journey across the funnel, from account sign-up to repeat engagements. Goodway focused on three areas:-Onboarding: how quickly customers were completing the onboarding process and making their first purchase.-Repeat Purchases: how often customers who signed up for self-service accounts returned to make repeat purchases.-Popular Products: what products customers who signed up for self-service accounts were most likely to purchase repeatedly.

Goodway Group analyzed the data and found average self-serve-sign-up-to-purchase time was short. 68% of customers initiated their first purchase on the day they signed up (85% converted within the first week). Nearly a third of self-serve sign-up customers returned to purchase popular products every seven days. 80% of customers completed repeat purchases within 20 days.With these data-driven insights, Goodway advised the office supply chain to streamline its onboarding process, implement weekly site remarketing and retention strategies to boost customer loyalty and optimize merchandising and promotional strategies to feature repeat order favorites (printing service, print paper, brochure printing service and markers) to increase sales.