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What are discounts by cohort?
First, you should know that a cohort refers to a group of people who share a similar trait over a specific time frame. With this in mind, discounts by cohort measure the number of customers that used a discount. This can be further unpacked by analyzing how many of these customers were first time buyers and for which product(s) the coupon was used. You can also find out the number of customers that returned after using the discount. In Peel, your cohorts are automatically grouped based on the first month they made a purchase with your company. So, you can track how your discounts perform across your cohorts to find trends within similar customers.
What can discounts by cohort tell me?
Discounts by cohort can give you an idea of how effective your discount campaign is when it comes to attracting new customers, encouraging repeat purchases and your customer acquisition cost. Is the increase in discounted purchases worth it based on measuring it against average cart value, customer retention and their lifetime value?
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