Comments for Target Your Best Customers With RFM Segmentation at http://www.lyrishq.com , comment 0 to 8 out of 8 comments http://www.lyrishq.com Thu, 18 Mar 2010 17:13:46 +0100 FeedCreator 1.7.2 http://www.lyrishq.com/index.php/Email-Marketing/Target-Your-Best-Customers-With-RFM-Segmentation.html#pc_332 Hi Marc, Thank you for the great question. The lift in the response rate that you can obtain by using Monetary on its own is usually not very significant when compared with Recency on its own or Frequency on its own. However, in most cases you will obtain a higher lift when using the three behavioral parameters together than just the first two. Having said that, one of the advantages of RFM is its adaptability. If obtaining the data for Monetary involves a large amount of effort, you could experiment with other parameters. But keep in mind that the objective of predictive models is to be able to target your customers more accurately. Each application is different, and experimenting on what works best will allow you to reach an optimal solution. - Emily Chen Fri, 14 Aug 2009 09:39:02 +0100 http://www.lyrishq.com/index.php/Email-Marketing/Target-Your-Best-Customers-With-RFM-Segmentation.html#pc_330 Hi Emily, Thanks for your article. I have a question though. In the underlaying article of Arthur Middleton Hughes I read that Monetary value has in most cases almost no effect. Everybody can/should check this for their own business, but if so, why not use RF segmentation. Only look at Recency and Frequency. That makes it even more easy to apply because you reduce the number of segments enormously. Especially when you have a small database. Thanks. - Marc Borgers Mon, 10 Aug 2009 03:57:57 +0100 http://www.lyrishq.com/index.php/Email-Marketing/Target-Your-Best-Customers-With-RFM-Segmentation.html#pc_315 This is one of the best techniques that small businesses can put to use without a high level programer or an internet guru on the payroll. Most of us have at least two of the three filter informations at our fingertips but have not mined these specifics. I like the "responsibility" aspect of doing the filtering too. It is almost always beneficial to be more discerning! - Jim Fonner Mon, 27 Jul 2009 08:07:25 +0100 http://www.lyrishq.com/index.php/Email-Marketing/Target-Your-Best-Customers-With-RFM-Segmentation.html#pc_310 Hello Emily, thanks for interesting article about RFM and client segmentation. Working for a small company, but utilizing email marketing it is always so helpful to know better ways to slice and dice data from our vendors. Although I don't manage our email campaign, I know we can do a better job at analyzing our campaigns and this seems like a good way to start! I enjoyed reading about the mythbusting above, sometimes its counterintuitive, but after reading, it makes a lot of sense. Thanks and I'll keep checking here. - Damien Fairbairn Thu, 23 Jul 2009 15:45:18 +0100 http://www.lyrishq.com/index.php/Email-Marketing/Target-Your-Best-Customers-With-RFM-Segmentation.html#pc_308 Emily, Great article. I am familiar with RFM from reading articles on the web. They mostly deal with direct mailing applications to RFM and rehash the original technique. Your article certainly provides a fresh perspective on how to apply this decades old analysis tool to my current e-mail marketing needs. Great suggestions on how to apply new metrics to RFM. Please keep them coming. - Guillermo Orriols Thu, 23 Jul 2009 12:29:40 +0100 http://www.lyrishq.com/index.php/Email-Marketing/Target-Your-Best-Customers-With-RFM-Segmentation.html#pc_307 Hi Emily, Best advise for my life insurance business by far this year. Came just when I was still wondering just where to get the best strategy of getting more revenue from my existing clients. Now I know this is it. I can't wait to start my email campaign based on your RFM tips. I can't thank you enough - Andrew Molobetsi Thu, 23 Jul 2009 11:33:44 +0100 http://www.lyrishq.com/index.php/Email-Marketing/Target-Your-Best-Customers-With-RFM-Segmentation.html#pc_305 Arthur, my deepest apologies for not properly attributing the diagram to your excellent paper, Quick Profits With RFM Analysis (http://www.dbmarketing.com/articles/Art149.htm). I've corrected the article. My fault, not Emily's, by the way. She supplied the source to me, and I forgot to stick it in the caption. - Anita Taylor, Editor of Inside Lyris HQ Thu, 23 Jul 2009 09:14:56 +0100 http://www.lyrishq.com/index.php/Email-Marketing/Target-Your-Best-Customers-With-RFM-Segmentation.html#pc_302 Emily: I loved your article. It seemed so familiar to me, particularly your diagram. I wonder why you did not mention your source for any of the content of your excellent article. I am sure that the source would be pleased to have his name mentioned somewhere. - Arthur Hughes Thu, 23 Jul 2009 07:18:38 +0100