RFM analysis for Customer Segmentation

Knowing your customers is the current “go-to” strategy for marketers. To survive in the long run, retain your customers rather than simply earning click through rates. Strengthen your relationships with the customers and build a strong customer base via customer segmentation.

Apply RFM analysis to analyze the customer behavior and Segment customers into homogeneous groups. 

What is RFM Analysis?

Recency

Create and implement a sound strategy to segment your customers based on their recent purchase or activities. Define the purpose of your strategy and allow us to be your guide in integrating your products and services as per your business requirements.

Frequency

Identify and target the right customers on the basis of the frequency of their purchases and visits to your website. Access them well and grab their attention in the best possible ways. Optimize the right opportunities that are coming your way.

Monetary

Analyze the purchase intent of the customers and their powers to purchase. Differentiate the heavy spenders from the low spenders to get a keen view of who will buy what? Integrate our services and technical expertise to give a new direction to your business.

RFM Transitions To Improve Retention

Get sustainable answers to all your questions regarding your potent customers. Define the best customers who can add value to your business. Analyze the ones you could retain and whom you can target with the appropriate campaigns.

Conduct RFM Analysis

Conduct RFM Analysis to assign scores to the customers based on their RFM attributes. Begin ranking the customers based on different factors such as recency, frequency and monetary. Sort out the customers to further target them.

Evaluate RFM Score

Combine the rankings of the different factors (recency, frequency and monetary). Conclude the RFM score by evaluating the average of the individual R, F and M scores. Simply provide equal weightage to the RFM attribute and obtain the scores.

RFM ANALYSIS

Evaluate the RFM score as per your business requirements. Assign importance to any of the RFM variables based on the nature of your business. If you are in a retail business, give more weightage to the recency and frequency score. Similarly, if you deal in a consumer durable business, focus more on the monetary and recency aspects.

RFM Model

NotifyVisitors utilizes the recency and frequency scores to determine the RFM analysis. Make use of these scores to create intuitive and manageable segments. Interpret the segments and create strategies based on the analysis of the users’ behavior

RFM Segmentation Analysis

Form segments based on the RFM scores. Categorize the segments into different categories of customers such as champions, potential loyalists, new customers and at risk customers. Assign membership, offer rewards or send personalized campaigns based on the different categories.

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