How to know your customer is likely to buy with RFM. Used by catalogue marketers since the 1930s, digital marketers now use RFM as a scoring tool to distinguish between customers likely to buy & customers that may be at risk.
And it helps avoid sending that promotional message right after a purchase or donation when a welcome message might be more appropriate.
The RFM score has three parts. Recency, how recently did the customer purchase? Frequency, how often do they purchase? And Monetary, how much do they spend?
Each part has a scale from 1 to 5, with 1 being the lowest & 5 the highest score. The lowest RFM score is 111 with 555 being the highest. The scale is tuned to match your definition of how recent, how frequent or how much. Typical segments would include New customers, Loyal customers & At risk customers.
Sensorpro automatically calculates RFM & generates the email templates for each segment, ready to send.
Of course what is recent may vary from one industry to another.
For example, a car purchase in the last 3 years might be regarded as a recent purchase for an Auto dealer but socks might have a recency value of 3 months. So each of the score components can be configured to match your business.
Sensorpro RFM is Shopify ready & starts to work as soon as you install the app. For other platforms we provide an easy to use import tool & API. Contact support to get started with RFM today!
The Sensorpro e-mail platform is backed by years of expertise with leading ecommerce stores like Micksgarage, Würth & WD40. Our e-mail platform for ecommerce is the best way to drive shoppers to your store & keep them coming back. To learn how, book a 1:1 demo with our expert now or create a free account.