(Recency, Frequency, and Monetary Value)
Developing a benchmark RFM study prior to embarking on new marketing programs, branding campaigns or loyalty programs is highly recommended.
Establishing clear RFM data milestones upfront help you to evaluate your marketing strategy and action.
Group customers by logical tiers
Create new segments for messaging
Allocate marketing resources based on RFM score
Reduces marketing cost, gives insight to increase revenue & attendance, and helps your marketing team to predict future results.