Here comes the seventh episode in our 60-Second Video Tips series on multichannel marketing automation. Watch it to learn about applying the RFM Model to your marketing automation strategy. Stay tuned for more!
If you’re not using the RFM model, you’re losing a lot of potential sales. What is RFM? It is a segmentation method based on three factors: recency – how recently the customer made a purchase, frequency – how often do they purchase, and monetary value, or how much do they spend. Once you analyze transactional data, you will be able to divide your customers into different groups – or segments. Some of these segments will be more valuable than others. Either because they place orders more often than the rest, or because they spend A LOT. You need to start treating those who bring you the most income differently. Offer them a personal touch, make sure they stay engaged. The RFM model is your key to retention and boosting sales, so make sure you use it.That’s it for now, more 60-second tips coming soon, so stay tuned!