One Stop Shop

First, identify your top 10% customers in terms of Customer Lifetime Value. Once you know who these customers are, find out the initial products they purchased with you. Look for products that they bought for their first purchase with you. Then, rank these products according to how many top customers bought it. The more it was purchased by the top 10% customers, the higher it’ll go up in your list. Will a single product top the list? Or will you identify a product bundle that most customers buy because it provides the most value for their money? You’ll only find out once you do this exercise. Knowing which of your products are loss leaders enables you to strategize a marketing strategy that works in your favor. You can push your loss leaders to a prospect who’s recently signed up for your mailing list. After all, you may just break even on your loss leader’s sale, but theoretically, this first-time customer will also make repeated purchases over time, based on the purchase history of your top spenders. There’