The new science of ERFM provides deep behavioural insight and helps you building better relationships with your customers. We explain the emerging practice and demonstrate how it opens up exciting opportunities for retail and ecommerce marketers, delivering far better results in terms of extended customer loyalty, increased conversions and realising better upsell and cross-sell opportunities.
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ERFM: How to understand customer engagement better than ever
1. VIENNA • LONDON • MUNICH • ZURICH • BERLIN • PARIS • HONG KONG • MOSCOW • ISTANBUL • BEIJING • SINGAPORE • DUBAI
2. “Relying on RFM means
missing opportunities
to build relationships
with customers who are
likely to purchase in future,
or to recommend the brand
to others.”
RECENCY
FREQUENCY
MONETARY
RFM CAN NO LONGER MEET
THE NEEDS OF CUSTOMERS
– OR MARKETERS
3. “Forward-thinking retailers
are already adopting an
ERFM approach. In doing so,
they report big uplifts not
just in engagement but also
in conversion rates.”
ENGAGEMENT
ERFM – understand customers
IN MUCH MORE DETAIL
RECENCY
FREQUENCY
MONETARY
5. ERFM can tell you who your customer is:
It enables a far more sophisticated
segmentation than traditional RFM
and allows you to understand customers,
and their likes, habits and preferences,
in much more detail.
Understand & engage your customers
BY ADDRESSING
THESE FOUR QUESTIONS
6. • Enables far more sophisticated segmentation
• Gives insights into behavioural patterns
• Drives highly relevant interactions
• Simplifies automated,
personalised recommendations
The emerging
SCIENCE OF ERFM…
7. …and
IN TURN LEADS TO
• Extended customer loyalty
• Increased customer lifetime value
• Strengthened retention
• Higher conversion rates
• Increased ROI