No algorithm, only EXCEL how to build RFM member value model Kuwait Phone Number

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ziaur
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Joined: Sun Jul 03, 2022 4:50 am

No algorithm, only EXCEL how to build RFM member value model Kuwait Phone Number

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If you've heard of customer relationship management (CRM), chances are you've also heard of the RFM model. In today's refined operation, before solving how to better mine user value, the first problem to be solved is how to measure user value? There are many models related to user value. In addition to the RFM model, there are also the customer life cycle value Kuwait Phone Number model (CLV model), the customer life cycle model (AARRR model) and so on. Different models have different perspectives and specific applications. Today, we mainly talk about the RFM model. Kuwait Phone Number This article is mainly divided into two parts: one is the theoretical part, which briefly tells you what the RFM model is? How can it help the business? The second is the calculation part, how to calculate the RFM value and obtain user hierarchical data only with EXCEL.

Theoretical part 1. What is the use of the RFM model? For example: after 10 years of operation, a brand has 5 million registered members, this number is clear and statistic. Among the 5 million registered members, 4 million registered members have made purchases. So how many of the 4 million members who have made purchases are loyal users of the brand? How Kuwait Phone Number many members have been lost? How many members are about to lose? For these different types of users, how can we quickly obtain and customize operation plans? Can you even set up automated Kuwait Phone Number precision targeted marketing directly? The RFM model can answer this series of questions for you. Only by mastering the different classifications and values ​​of brand members can you design operational activities in a targeted manner, thereby improving the final transaction conversion.
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What is the RFM model? According to the research of Professor Arthur Hughes of the American Database Marketing Institute, there are three elements Kuwait Phone Number in the customer's database, and these three elements constitute an important indicator for analyzing user value: R (Recency) : the last transaction time interval; F (Frequency) : consumption frequency; M (Monetary): Consumption amount. The RFM model is the initials of these three words. R (Recency) : The last transaction time interval, which refers to the interval between the last transaction of the consumer and the statistical time. For example, the last transaction time of the consumer is March 6, 2021, and the Kuwait Phone Number statistical time is April 6, 2021, then the interval time R=30 days, that is, the interval between the consumer's last transaction and the statistical time is 30 sky. F (Frequency) : Consumption frequency, which refers to the number of consumers' consumption during the statistical time period.
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