Recency is a marketing metric based on the time elapsed since a customer made a purchase or viewed an advertisement. The following are illustrative examples.A business-to-business sales team performs an analysis of their existing customers to identify opportunities to cross sell new services. As part of this analysis, they calculate recency for all large accounts and decide to target large customers who haven't made a purchase for a year or more.
A local restaurant has a strategy of offering friendly, diligent and personalized service to gain repeat customers. They track this with a recency target of 50% of customers who return at least once a month.An luxury shoe brand uses digital advertising to retarget customers who have visited their website recently. They target a recency of 4 hours, meaning that ideally they'd like to get an ad in front of the customer every 4 hours after they leave their website. This is done to reach customers while they are still in the mood to buy shoes.
Media & ContentA newspaper tracks the recency of visitors to its website using a web analytics tool. The firm finds that only 15% of visitors return on a daily basis. They develop a strategy of providing more timely updates from partner sites with a target of improving this rate to 30%.
NotesRecency is often tracked using loyalty cards and similar rewards programs.Next: Customer Loyalty
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