In the current digital landscape, effectively understanding and utilizing First-Party Data is essential for Consumer Packaged Goods (CPG) companies aiming to enhance growth and ROI. At Shoppable, we assist brands in revealing the lifetime value of their consumer order data through actionable insights and quantifiable outcomes.
Here are key factors to consider when calculating the value of First-Party Data:
1. Total Orders with Consumer Order Data – How many purchases are your customers making?
2. Average Order Value (AOV) – Assess the average spend per order to boost profitability.
3. Annual Repurchase Frequency – Gain insights into how often customers return.
4. Brand Loyalty Years – Analyze the duration of customer loyalty to your brand.
5. Cross-Brand Sales Growth Potential – Spot opportunities to enhance sales throughout your brand portfolio.
6. Savings in Optimized Media – Utilize full-funnel tracking to lower media expenses.
7. Look-a-Like Audience Data – Employ first-party insights to connect with new audiences exhibiting similar behaviors.
Why First-Party Data Matters
Shoppable's tailored reporting can compute the Lifetime Value (LTV) of consumer data, aiding your brand in evaluating its ROI and refining growth strategies. By leveraging these metrics, you can uncover new sales prospects, decrease acquisition costs, and bolster customer loyalty.
Ready to maximize your brand's First-Party Data value?
Contact us at sales@shoppable.com to begin your journey today!