Predicting the likelihood of a customer to make repeat purchases using logistic regression
▻https://hackernoon.com/predicting-the-likelihood-of-a-customer-to-make-repeat-purchases-using-l
Source: FuraffinityFor a business getting a customer is exciting, not only because it helps you ‘secure the bag’ by bringing in much needed revenue, but it also creates an opportunity to create loyalty with this new found customer which in turn could help you ‘secure more bags’ through repeat purchases.Safe BagAssuming your business continues driving and optimising the action(s) that have the biggest positive impact on creating repeat purchases, you create more organic brand ambassadors who will refer friends to your business at no extra cost to you. Additionally, depending on the sizes of the purchases made by these repeat customers, this will increase average customer lifetime value. All things constant, the higher the average lifetime value the more wiggle room you have to spend on (...)
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