What type of behavior of customers does each Segment define?

What type of behavior of customers does each Segment define?

  •  Behavior that each RFM segment defines is as below

RFM Segmentation

Customer’s Behavior

Champions

Bought the most recent, purchased frequently and generates the highest revenue.

Highest Paying

Generates the most revenue for your store.

Loyal

Buy most often from your store.

Promising-Faithful

Buy frequently but spend less

Needing Attention

Above average recency, frequency, and monetary

Newest

Transacted only once but recently

Sleeping

Past customers with no recent purchase.

  •  Click on Segment to know the type of purchasing Behavior of customers, the details about segments that will appear as shown below.


  •  As shown in the figure above,
  •  From each segment you can gather very easily information of customers like
  • Recency(R) - When did they last Purchase?

  • Frequency(F) - How frequently do they purchase?

  • Monetization(M) - How much do they Purchase?

  • Terminology

Activity Description :

    - Describes activity and purchasing behavior that this RFM segment defines of customers.

    - From this description, you will very easily get to know that this segment possesses which type of customers.

    - For example, for Champion segmentation, as described in the figure it defines that those customers who bought recently, buy often, and spend the most are categorized to this Segmentation. 

    - Users can edit and describe activities based on his/her choice.

Actionable Tips :    

    - Define the marketing strategies that should be implemented on a group of customers belonging to this group based on their activity description.

    - For example, customers of Champion Segmentation should be Rewarded for their purchases, can be early adopters of new products, and promote your brand. Expensive products should be introduced to customers of this segment.

Create Mailing : 

    - This allows you to create mail campaigns only for customers that belong to this segmentation

Sales Team tab :

    - Details about which sales team operated

    - How many Orders?

    - What was the total Revenue of orders? for the customers that are categorized to this segmentation can be obtained directly. 

    - These details will help you to identify and analyze the performance of each Sales team.

Likewise, all such details can be tracked and derived for each segment



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