Chart of the day: How can latency be applied to other sectors to understand engagement and to design lifecycle communications?
I don't see latency talked or written about much, so I was interested to see this new research from Monetate that shows average latency between purchases. So, what is latency in marketing? I think latency is best defined in the context of the customer lifecycle, that is:
"Latency is the average time it takes between different lifecycle events for different groups or cohorts of customers".
In this research, to measure engagement, Monetate looked at how frequently customers began a new session within a set time period, specifically the number of sessions and the number of days it took for a customer to complete a purchase.
For first-time customers, the baseline latency from the first visit is an average of 25 days and 3.5 sessions to complete a purchase. Here is the latency for repeat…