• author: SALESmanago

Exploring RFM Marketing Automation

RFM Marketing Automation is an important tool for businesses that want to automate their marketing processes. It allows businesses to segment their customers based on their behavior and interactions with the business. In this article, we will discuss how to set up and analyze the results of RFM Marketing Automation module.

Setting up RFM Marketing Automation

To access the RFM Marketing Automation module, follow the steps below:

  1. Go to the automation processes panel.
  2. From the top menu, select RFM marketing automation.
  3. If you want to create a new panel, click on RFM marketing animation and go through the creator.
  4. In the basic settings, select the following:
    • Panel name
    • Starting date from when it will be analyzing the data
    • Transactions or external events that will acknowledge Andy analysis. The choice is between purchase visit and card events.
    • Contacts to analyze based on whether the contacts have any of the following tags, all of them or if the contact is a specific stage in a sales funnel.
    • Specific currency to be used in this panel
  5. Next, set up the recency settings:
    • Select the units of time to be used in the matrix itself (months or days).
    • Select how much time will be analyzed since the last purchase for each contact.
  6. For the frequency setting, select the maximum amount of purchases per one contact. This will help businesses understand how many purchases can be considered as a large amount for their specific type of business.
  7. After selecting the time range and a frequency range of purchases, proceed to the mandatory settings configuration.
  8. Set up the maximum amount of value that approaches can have. This is similar to the time range.

Analyzing Results of RFM Marketing Automation

Let's take a premade RFM panel as an example:

  • Recency chart: This chart shows the number of contacts in each specific segment on the left-hand side. On the right-hand side, the amount of contacts progression between each segment or the time frame selected is visible.
  • Segment statistics: In this section, businesses can see more in-depth information about each specific segment such as the amount of transactions, the average value of each transaction, and a total income from that specific segment.
  • Frequency and monetary graph: This graph shows a breakdown of how many users each segment has and the segment statistics for each segment in depth.

In the matrix itself, we can see a breakdown of each category with two of each dimension on an axis. The first graph is recency versus frequency. Here, we can view how many contacts are in different subgroups. For example, on a bottom left, we have users that have been moved aside for a short amount of time and are casual spenders.

Similarly, on a recency monetary graph in a second column on a top row, we have spenders that have been here moderately long. In another example, on a bottom right for frequency and monetary graph, we can see casual spenders that spend a low amount of money for each purchase.

Each particular block in the matrix has two buttons:

  • The first button allows us to view the contacts that each segment has.
  • The second button allows us to execute an action specifically to this block of users. We have eight actions to choose from:
  1. Send an email: A static email from an email list that is available. It has to take a specific date at which it will be sent. It also gives an option to send an email to each user to their preferred activity time.
  2. Add a tag: This option will allow us to add one or multiple tags to all of the users in this specific block.
  3. Run an automation rule: We can choose to run the rule immediately or 15 minutes from the time of executing the action.
  4. Add all contacts to a specific stage in the funnel
  5. Send a text message: We can choose from one of the pre-made text messages, specify a day and time of sending, and add the from and text fields for the message itself. Keep in mind that contacts will still have to have an opt-in status and a phone number in order to receive the text message.
  6. Create a new custom audience or assign all these contacts to an existing custom audience
  7. Send a web push notification: Here, we'll be greeted by a small miniature web push creator. Business owners can select the web push's name, select which form the contact will have to agree to in order to receive the web push initially. We can choose whether we're sending a normal web push, average web push, or both, implying that if a user is using a device that is not compatible with the rich web pushes, they will receive a simpler web push instead.

    These are the fields that will be displayed on the web push itself:

    • Title
    • Content
    • Notification icon on the top left of the web push
    • Notification image for the rich web push
    • The URL the user will be redirected to when they click on a web push
    • The precise date and time where we want to send a web push
    • Its lifespan or how long the web which will be valid and visible
    • Ability to track the web push by Google Analytics.

Businesses should analyze the results of RFM Marketing Automation and use this data to refine their marketing strategies. By segmenting their customers based on their behavior, businesses can target their marketing efforts more effectively. To learn more, visit the support page at support.salesmenago.com.

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