A cohort is a group of customers who have shared a particular event together during a particular time span.
For example, with RevGuard’s OCO® system you can create a customer Cohort of your customers who all came in under a certain channel (i.e. PPC), bought a certain product (Spaceley’s Space Sprockets) from a specific affiliate (George Jetson Advertising, Inc.) during a certain time period.
The RevGuard OCO® system has over 30 characteristics available for creating cohorts.
Once you’ve created a cohort (it happens on the fly with the UI in less than 10 seconds) then you can run a customer lifetime value (CLV) analysis of those customers to see how they are performing, comparing them to other Cohorts of other affiliates, products, channels, timelines, etc. With the RevGuard OCO® system, you can then identify that cohort and set up various A/B tests to optimize their CLV.
The RevGuard system will identify an inbound customer communication and parse it (based on characteristics you set) into its cohort and then parse it randomly (based on percentages you set) into tests. You can then run comparisons of the cohorts to see what your test has done to improve CLV.