Customer Value Tracking in Flare

Recently, we published an article about increasing customer lifetime value (CLV). This important measurement is often influenced by actions businesses take such as great customer service, staying in touch, preferred customer benefits and more. Knowing the importance of this measurement, we built in a customer value tracking feature into Flare.

When viewing customers, Flare lets you view your income from each customer, month by month over the course of the fiscal year. Not only can you see the cyclical purchasing habits of individual customers, you can also compare a customers purchasing habits in the current year with those of the past year.

Viewing and Comparing Customer Purchasing History in Flare

As you can see below, you can view all of your customers in Flare and see important information about their purchase history. Below, we see that customer Emerald Chiang has paid $1000 in the current year with payments of $500 each occurring in January and February. We can also see that Emerald has 3 unpaid invoices with a total value of $1,024.00.

Having this information at a glance is invaluable and time saving.

Customer value tracking in Flare

In Flare, viewing a customer’s history is easy. You can view the current year and compare to the past year.

You can also compare Emerald’s payment activity this year with last year.

Comparing a customer's purchases last year with the current year

Comparing a customer’s purchase history this year with last year. Flare shows you month by month revenue, % change, and accounts receivable.

Flare places the graph’s bars side by side for quick comparison. Even without examining the numbers deeply, the bar graph clearly shows a downward trend, both in the number of purchases and the purchase amounts.

Last year, displayed in light green, Emerald made purchases in January, February, March and April for a total of $2,750.00. In the current year to date, she has made purchases in January and February for a total of $1,000.00. Flare also displays the % increase or decrease in the current year compared to the previous year.

If the customer requests a statement for the current year, you can attach it and send it to the customer from within Flare by clicking the email icon above the customer’s name.

email-statement-fiscal-year

Emailing the current year statement to a customer.

Flareapps.com small business tip #083Drilling Down into Customer Transaction Details

While Flare lets you quickly see each customer’s purchases in an overview graph, Flare’s Customer Statement (in Reports) provides more detail about invoices (both paid and past due). A customer’s revenue history and payment habits can help you see purchasing cycles and determine discounts and credit extended to the customer.

Customer statement

In Reports, you can view revenue by customer for the current year, select other date presets, or select a custom date range. The statement can be exported as PDF or emailed directly from Flare.

As you can see above, we can quickly get an at-a-glance view of all invoices and payments for the year we select (in date presets) or for a custom date range. In the example above, we are viewing invoices issued to and paid by Emerald in the current fiscal year. If you want to view more than 1 year of a customer’s purchase history, you can select a custom date range.

This statement can be exported as PDF or sent by Flare’s system email.

Summary

With Flare’s customer purchase history overview and graph, and the more detailed Customer Statement, you can get helpful information about a customer’s purchasing habits and view purchasing trends. This information can be useful for understanding peaks and valleys in purchasing cycles, individual purchasing habits. The customer statement can also be used to determine the amount of discounts and credit you extend to individual customers.

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