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RFM Analysis for Effective Customer Relationship Management

RFM Analysis is an important marketing tool that proves to be an effective method to strengthen customer relationship management.<br><br>#RFMAnalysis #RetainYourCustomers #CustomerSegmentation #PurchaseBehavior #PurchaseAnalysis #SalesCoach #StrategicConcepts<br>

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RFM Analysis for Effective Customer Relationship Management

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  1. RFM Analysis for Effective Customer Relationship Management CONSULT4SALES.COM

  2. RFM stands for ‘Recency, Frequency, Monetary’. RFM analysis is a marketing technique that works to analyze customer purchase behavior for streamlining the process of customer segmentation. The outcomes of this analysis empower businesses and individuals target their prospective audience. This also helps to identify customers who are most likely to respond to marketing tactics and promotions. CONSULT4SALES.COM

  3. Recency This is the analysis of how recent a customer makes a purchase. Recency value is the number of days from the last purchase. Example: If a customer had made the last purchase 5 days ago, then the recency value is 5. CONSULT4SALES.COM

  4. Frequency Frequency is the analysis of how frequently a customer makes a purchase. This is the total number of purchase transactions done over a specific period of time. Example: If a customer makes 5 order over a period, the frequency is 5 CONSULT4SALES.COM

  5. Monetary Monetary value is the analysis of how much a customer happily spends for his or her purchases. Take a sum of all expenditures made over a specific period of time. Example: If a customer spends Rs 100, Rs 300, Rs 500 in three different purchases made over a specific period, then the monetary value is Rs 900 CONSULT4SALES.COM

  6. Thank You CONSULT4SALES.COM PRESENTED BY MR. SANJAY SINGH, SALES COACH

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