This dashboard answers the question: What is the delay between two orders depending on the order rank?
Where to find it?
In Quanticfy, this dashboard is located in the Business Section.
It is the first one on the page, followed on the same page by the LTV Share of new VS returning customers dashboard.
What is the LTV - Time between orders?
LTV stands for Lifetime Value, which is a metric used to measure the total value that a customer is expected to bring to a business throughout their lifetime as a customer. Lifetime Value is read by cohorts, which are groups of customers who made their first order in the same month.
For each cohort of customers, the LTV - Time between orders dashboard (first on the page) shows you the average delay between first-rank orders and second-rank orders, between the second-rank order and the third-rank order, and so on.
Who is the dashboard for?
The delay between orders is interesting for growth professionals, quarterly. It provides insights into the re-purchase rate after the first and the following orders and the average delay between orders for each cohort of customers.
How to read it?
The best order source to select for an LTV analysis is the Online store. It can work with other sources but might not be as accurate as for the Online store.
For stores with a subscription business and using Recharge, see the dedicated section (coming soon).
How to interpret the results
From the data in the Delay columns, you should be able to draw a graph that looks like the one below (orders from rank 1 to rank 2, rank 2 to 3, etc.).
This range of values is a "safe and robust analysis": there is no other way to approximate the time between orders. You can use it to predict what is most likely to happen in the future.
In the following example, we plot a graph representing the evolution of the delay between order 1 and order 2, cohort after cohort:
It shows a high probability that the delay between order 1 and order 2 is between 3 and 4 months.
Tips on the delay between orders for your business
If your business entails a high repurchase rate (i.e. if you sell products that need to be refilled or replaced on a regular basis), you should observe a decrease in the delay between orders over time.
For instance, if the estimated delay between the first orders and second orders is 100 to 120 days, the delay between the second order and the third should be 95 to 115 days, and so on.