Days between Repeat Booking
Days between Repeat Booking is a customer engagement metric, which is designed to show how frequently your most loyal customers use your services. This information can be fed into marketing and promotional campaigns in order to increase conversions. By categorising customer buying patterns, you can identify the most optimal time to target them with a promotional offer or email campaign. Categorisation can also be used as a marker of brand loyalty and as a success metric for the customer experience you provide – if you now have more customers using your services at the highest frequency, then this can be celebrated as a sign that your processes are working; if however this number is beginning to drop, it may be time to investigate whether there are holes in the service you are providing to clients.
Making the KPI
To calculate Days between Repeat Booking you will need to log the date at which a Customer makes a booking. Then, when a repeat booking occurs, calculate the difference in days between the two events. If the Customer then makes a subsequent booking, simply calculate the difference between the second and third events and divide by the number of repeat bookings which have occurred.
Once you’ve calculated the frequency with which each customer performs a repeat booking, you can categorise the number of customers who fall within particular boundaries. By dating this information, you can upload it into FUTRLI and see how this distribution alters over time. Below we’re looking at the Days between Repeat Bookings as of October 2017.
Once uploaded we can display this on a Graph in FUTRLI. Below we’re viewing this on a Proportion Card so we can see the weighted distribution: