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What is RFM analysis?

Asked 2 years ago

Hi there. I have often heard people speaking about how using an RFM analysis has helped them to identify which customers to spend time on to make sure that their e-commerce businesses are successful, however I do not know exactly what an RFM analysis is. Anyone know what RFM stands for and what this analysis entails? Thanks in advance.

Marketing Rfm analysis Customer behavior Customer retention

+2

Abeeha Qasmi

Wednesday, December 07, 2022

The recency, frequency, and monetary value analysis is a marketing technique. This strategy focuses on ranking the customers in different sectors and specific campaigns according to their needs.
RFM helps you determine if a product is over or undervalued in your market for a specific group of customers. The RFM analysis also helps you determine whether a product is rightly priced or needs any price modification.

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