What is Product Coverage Analysis, and how can you use Zero BS CRM to do your very own. First up, let’s take a minute to go over the basics (i.e. what the heck am I talking about).
Product Coverage Analysis
This means, of your products (especially up-sells) how much coverage do you have from your customers. So, if your main product is Product A and it has Product B, Product C and Product D as useful products which your customers could purchase. A product coverage analysis is looking at your customers line by line who have purchased Product A and seeing whether they’ve also purchased your other Products.
If they haven’t, why is that? Is there a way you can use this data to directly sell Product B, C and D to them? Maybe they don’t realise those other products exist.
|Customer||Product A||Product B||Product C||Product D|
Once you’ve got all this information to hand, you can dig into the analysis and take it from there. Which customers can you contact directly and let them know about your other products?
With Zero BS CRM you can analyse your data just like this and start selling more to your existing customers in minutes. Remember, existing customers are easier to sell to (assuming you’re doing a great job with support) – they’ve already bought from you once and so to agree with their thinking when they previously purchased, they’ll likely buy again.
Using ZBS CRM for a Product Coverage Analysis
So, you’re running ZBS and you want to know how to do this for your own data. First up is it’s worth understanding whether you have any gaps here.
To help illustrate this post I’ve used REAL DATA from my Plugin Hunt Theme, which has Three Add Ons. So My Product A is the Theme, whereas Product B, C and D are the three add ons.
Find out how many transactions you’ve had for Product A. In this case, the Plugin Hunt Theme.
Find out how many transactions you’ve had for Product B,C and D. In this case, Notify Me, Feedback Me and Popular This
Use this information to construct your High Level Product Coverage Summary. Here’s how it’s done with the numbers above
|Plugin Hunt Theme||Popular This||Notify Me||Feedback Me|
Wow. So by doing this analysis I can see that of my customers who have purchased my Plugin Hunt Theme (632 transactions) there’s only been 39 transactions for the Popular This (6% of the transactions) etc. This is a little flawed in that it’s showing the Product Coverage by Transaction (and not by customer). But it’s good enough to understand where some of your marketing efforts should go.
Hint: It’s selling to your customers who have purchased your main product, with information about the other products. They’re more likely to buy from you.
Coverage by Customer
Remember the above analysis, it’s great but you’ve now got a ton of transactions analysed, but how do these tie into your customer. This is where Customer Tags come in handy. When working through your transactions you can find the customer who the transaction belongs to, and tag them (or you can go onto the Edit Customer Page) and see which transactions they have (and tag the customer there).
OR, to make it even easier, you can use the Bulk Tagger extension which automatically tags your Customers based on transaction keywords (it’s a HUGE time saver).
Then head over to the Customer Search page of your CRM and you’ll see the tag count by customer.
Wait, they don’t tally up to the transaction count (did you even notice). This is a little specific to my own example because:-
- I use WooSync to import my customers and transactions.
- Transactions are single purchases
- Some customers purchase more than one copy (to use on more sites)
But, the analysis is broadly the same, only around 7% of customers who purchased the Plugin Hunt Theme have purchased an add on.
How to Contact Them
Next up is how do you go about contacting them, well once you’ve got your customers tagged, you can use the Mail Campaigns extension to target exactly who you send an email to
So I can say, find me Customers who have been added in the last month who have the tag Plugin Hunt Theme. I know then that these customers
So you can do things like:
- Send and email to everyone with the tag Plugin Hunt Theme
- Craft an email especially about the Notify Me extension, it’s benefits and why it’s a good fit for them.
- Send an email to everyone who has purchased Plugin Hunt Theme, and Notify Me, and tell them about the other 2
This is all possible when having your data inside Zero BS CRM and you can do this visualisation manually, export people manually and add them to various email systems, but why not take advantage of the power of Zero BS CRM and it’s extensions.
The extensions covered in this post have been:-
- WooSync – get your store orders and customers into your CRM to be able to do this analysis
- BulkTagger – tag your customers based on transaction keywords
- MailCampaigns – use your customer and order info as well as the customer tags to send targeted campaigns