What is a Frequency Segment?
A frequency segment divides your customers based on the cumulative purchases of each customer. Once complete, you can analyse your customers based on those labelled Prospect, Repeat Buyer, Frequent Buyer and Loyal. For greater resolution, you can monitor the frequency segmentation of your customers by filtering the Customer Lifetime Value report by the Active recency band to observe the average frequency of customers actively buying your brand's products.
Segment Definitions
An algorithm sets these segments dynamically by analysing the buying habits of the brand's customers and provides unique insights. Therefore, our approach segmentation doesn't have fixed boundaries, allowing Ignite to account for differences in purchasing behaviours observed across categories.
Prospect
The lowest frequency branding is the Prospect band. They've typically purchased between one and two times during their lifetime. These customers require nurturing to become habitual customers.
Repeat Buyer
Next is the Repeat Buyer band, which clusters customers who have purchased multiple times and are beginning to form an affinity with the brand and product.
Frequent Buyer
The Frequent Buyer band identifies customers who regularly purchase the brand's products.
Loyal
Finally, the Loyal band categorises the customers who've exhibited the greatest brand loyalty by purchasing the greatest number of times.