Measuring Online Success
Three of the most important measurements of online success are recency, frequency, and monetary value.
Recency relates to the fact that customers who have made a purchase recently are more likely to purchase again in the near future than are customers who haven’t purchased for a while.
Frequency data help marketers identify frequent purchases who are definitely more likely to repeat their purchasing behavior in the future.
The monetary value of sales is important because big spenders can be the most profitable customers for a business.