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For more info on the concept of RFM, and how we measure RFM scores, please refer to: RFM Concept
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How To Use the RFM app in Squeezely
Now that we have discussed what RFM is, how we measure it and the conclusions we can draw from it's numbers, it's time to discuss the practical side of things; what can you actually do with these numbers within the Squeezely RFM app:
Analyze segments
In the app,you will find segments based on RFM scores that help you identify interesting segments within your customer base. Use these segments to understand your audience better and to setup highly targeted campaigns.
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· Lost customers - Not recent - Frequent - Low value
Edit Values
We have defined the Segments with the following RFM values, to give youa good head start:
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In case you want to define your own values for each segment (let’s say you’d only want 555 to be your champions) you can easily do so by clicking on the “edit values” button of a segment:
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Create audiences
Let’s have a look at how to use these segments in Squeezely. On each segment tile, there is an option to either edit the values for your segment, and to create an audience. These audiences can be used like any other audience and are available for advertising, journey builder and website personalization.
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Customer Lifetime Value
To understand more about the value of your customers individually, check out the Customer Lifetime Value tab. This will tell you more about behavior of customers in each segment. You will learn, their customer value, amount of purchases,average order value and customer lifespan.
This information gives great insight and cues on how to move customers to a higher value segment. Maybe you need to focus on bringing up the order value for your Potential loyalists, but need to focus on the amount of purchases for those about to sleep. Check back regularly and you will quickly realize what’s working and what still needs to be done for different segments.
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Experience RFM for your business
Our RFM app is available as an add on, only through our sales or account management team for the moment.
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