What is RFM analysis?
Asked 3 years ago
Hi there. I have often heard people speaking about how using an RFM analysis has helped them to identify which customers to spend time on to make sure that their e-commerce businesses are successful, however I do not know exactly what an RFM analysis is. Anyone know what RFM stands for and what this analysis entails? Thanks in advance.
Abeeha Qasmi
Wednesday, December 07, 2022
The recency, frequency, and monetary value analysis is a marketing technique. This strategy focuses on ranking the customers in different sectors and specific campaigns according to their needs.
RFM helps you determine if a product is over or undervalued in your market for a specific group of customers. The RFM analysis also helps you determine whether a product is rightly priced or needs any price modification.
Please follow our Community Guidelines
Related Articles
Loyalty Programs for Shopify to Boost Sales: Best Apps and Easy Set Up
Brody Hall
December 29, 2021
Remarketing vs. Retargeting: What’s the Difference?
Ashley Stander
June 23, 2022
Leveraging Personalization AI in Your E-Commerce Marketing Strategy
Ashley Stander
August 31, 2022
Related Posts
Ashley Stander
A Marketer’s Guide to CPM Across Social Media
Can't find what you're looking for?