Phenomen expert marketing system fuels your customer base development efforts. The system's customer retention features rely on RFM analysis and binary segmentation algorithm.
- "Recency" (R) reflects how recently a particular event has happened.
- "Frequency" (F) basically conveys the number of orders made.
- "Monetary" (M) shows the revenue generated by a sale.
The RFM segmentation technique and cohort analysis are widely used in marketing and sales; they give wholesalers, retail chains and e-commerce companies actionable recommendations aimed at engaging each customer individually, in a deeply customized way.Key benefits:
- big data processing automation;
- improved second order conversion rate;
- reengagement of customers about to churn;
- product-related recommendations;
- manager performance assessment;
- tracking of changes in LTV;
- calculation of important parameters;
- RF score calculation;
- monitoring of significant events;
- CJM development.
The expert system analyzes the history of orders and tracks customer's transition from one segment to another; helps understand why a customer's order amounts have grown smaller; compiles a segment of customers that bring the maximum revenue. RF segmentation allows determining the recency of orders and frequency of their placing.
Behavior model prediction is a reliable foundation for customer base management. The marketing expert system generates product-related recommendations and suggests ways to counter customer churn.
Integrated with your CRM and/or email/SMS/push notification mailers, Phenomen delivers tasks to those systems and makes them immediately actionable. The primary goal is to maximize return on marketing investments.
The system segments customers by a number of characteristics, including order amounts and contents (list of goods and services purchased). The data comes from a variety of sources, which means there is no need to annoy customers with personal questions.
The marketing expert system enables development of the customer relations strategy that is just right. Data analytics allows determining the real value of each customer for the business.