Effective promotion of new products and services among the most loyal customers helps to get the first reviews and feedback. You can start interacting with the audience even before the product is launched. Loyal customers can give you valuable ideas on how to improve the product and how to best promote it. In addition, such buyers will tell their friends about the new product.
New product, novelty
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The Impact of RFM on Customer Loyalty and Engagement in Business
When launching a loyalty chinese singapore b2c cell phone number data program, the “Ideal”, “Loyal” and “Prospective” segments should be a priority. They are the ones you should focus your efforts on when promoting the program. If you are looking to improve their experience with your brand, it is recommended to use follow-up tactics with limited-time offers. This can greatly increase the likelihood of repeat purchases.
In addition, a newsletter containing useful educational and informational content helps to increase customer engagement in the brand. Such materials help to increase the brand's expertise in a certain field of activity.
The Impact of RFM Analysis on Marketing Expenditures and ROI
The use of RFM analysis helps improve marketing in business. In addition, the use of this method allows:
increase customer lifetime value;
improve the efficiency of launching new products and services;
reduce customer losses;
increase ROI of advertising campaigns;
improve the quality of customer experience and their loyalty;
increase the efficiency and success of retargeting campaigns;
understand the business and make analytics more transparent and informative.
Untargeted advertising campaigns are usually expensive. However, by focusing on a narrower audience, you can significantly reduce costs, make advertising more personalized, and develop creatives and texts based on customer information.
RFM analysis emerged from direct marketing practices. An example is the reduction of costs by sending paper catalogs only to those consumers who are actually interested in and order the product.
This principle can be easily applied to digital marketing and other types of advertising activities. Pre-segmentation of the customer base and selection of the target audience allows you to reduce advertising costs and increase ROI.