A lot of power comes from combining things.
Peanut butter and jelly.
Hot peppers and vinegar.
Bart and Homer.
That combining is what make RFM a powerful customer analysis model. By combining three different measurements it can cover a lot of different behavior while still being simple to understand.
(Unlike most AI or "fake-AI" systems that are too complicated for even their developers to explain).
Having three measurements also gives you a lot of other options for segmenting customers.
- RF will show who the active customers are.
- RM will show how customer activity compares to their lifetime spending.
- FM will show ordering sizes.
You get all of that information, in addition to the regular RFM segmenting just from doing a single analysis.
Analyzing your Shopify customers and calculating the scores can be time consuming though. It's easy to understand but once you get more than a few hundred customers it'll take too long to do it by hand.
But not for a computer algorithm.
Repeat Customer Insights can calculate the RFM scores for your Shopify store automatically. It refreshes them automatically regularly which is vital to get the correct results.
Eric Davis
Leaky funnel losing repeat customers?
Are you struggling to grow your repeat purchases? Install Repeat Customer Insights to equip your store with the insights it needs to increase your repeat sales.