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Marketing strategy

RFM a Great Way to Start With Customer Segmentation

Are you looking to communicate in a more personalized way with your customers and want to move beyond basic demographic segmentation? Then the RFM model might be for you. You might be wondering what RFM is right? RFM stands for Recency, Frequency, and Monetary value. This definition from Optimove I believe explains RFM perfectly, “RFM segmentation allows marketers to target specific clusters of customers with communications that are much more relevant for their particular behavior – and thus generate much higher rates of response, plus increased loyalty and customer lifetime value. Like other segmentation methods, RFM segmentation is a powerful...