How to Prepare Your Business for Growth using Big Data
Understanding Big Data will help business owners to improve their businesses and increase profits. It forms the basis of developing a customer loyalty solution that is truly focused on customers’ needs. However, interpreting and analyzing big data and using it to grow your business can seem like a very daunting task. The amount of data that […]
How RFM Analysis can Boost e-Commerce Sales
RFM Analysis allows marketers to segment customers and target them more effectively with personalized offers and coupons. It’s a great way to accelerate sales and develop customer loyalty. Segmentation and Targeting The typical workflow for RFM analysis is divided into different categories: collection of transaction data, this includes unique customer id, transaction amount, and […]
E-Commerce Customer Segmentation Using RFM Analysis
As an e-commerce business, you cannot undermine the importance of understanding your customers. The mere wealth of information that customer behavior can unravel has the potential to boost customer loyalty and increase customer lifetime value. The marketing techniques RFM (Recency, frequency, monetary) is being used to determine quantitatively which customers are best by checking how […]
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