View this demo to find out how IBM SPSS® solutions for predictive customer analytics can deliver deep customer insights that help you tune your marketing efforts-effectively and efficiently attracting new customers, nurturing customer relationships and retaining ideal customers. Watch how IBM SPSS software uses existing customer information to help you do the following: Identify your best customers for targeted marketing programs with customer segmentation, cluster and profiling techniques; confidently predict which customers will respond to your offers with powerful predictive models; get more out of every customer interaction by delivering real-time, predictive intelligence to front-line decision makers; and enrich and deepen your customer insight with social media analytics.
Published By: SPSS Inc.
Published Date: Mar 15, 2010
This paper focuses on six myths that surround direct marketing best practices and discusses how you can use specific analytical techniques and tools to beat these myths, increase response rates and boost ROI.
As marketers, we’ve come to depend on RFM – recency, frequency, and monetary value – as a factor in creating personalized engagements with customers. But while RFM can help you deliver personalized experiences, it rarely delivers on the increasingly critical promise of real-time marketing. RFM only provides marketers with a partial slice of the customer view. It only tells a portion of the story. At Evergage, we look beyond RFM and apply a different formula – RPI, or Relationship, Persona, and Intent. Together, these identifiers offer you a more immediately actionable view of the customer.
Email marketers should be leveraging the use of Recency, Frequency, Monetary (RFM) analysis to uncover optimal segments and untapped opportunities within their email marketing program. Email marketing provides real time data about subscriber behavior, which is ideal for RFM analysis. In order to use each metric fully we will focus on the undeniable power of Recency first.
Welcome to Part 2 of our series where we explore the many opportunities yielded by integrating Recency, Frequency, Monetary(RFM) analysis into your email marketing program in order to lift your pivotal Key Performance Indicators (KPIs). Download Part 2 to learn more.
The third and final piece in our RFM series highlights multiple email marketing strategies for analyzing a subscriber's Monetary value. As proven over many years with RFM analysis, marketers know that their highest spending customer segment is statistically more likely to spend again than their lower performing spending segments.