A.B. Data's scoreRFM™ formula maximizes your marketing or fundraising efforts by identifying your best customers. Most databases have fields for recency, or the last time a customer made a purchase or donation, frequency, or how many times that customer has bought from you or donated to you, and monetary, or how much money that customer has spent or given. On their own, these criteria cannot paint an accurate picture of who your best customers truly are, but when combined, provide a powerful marketing tool.
scoreRFM™, when applied to your database, assigns each customer a single score based on a combination of recency, frequency, and monetary data. The higher the score, the better a target that customer might be for future campaigns.
For example, you may have two customers who have both placed large orders recently. Customer A is a longtime customer, who has consistently placed large orders in the past. While Customer B's recent order was one of your largest to date, that was their very first order with you. scoreRFM™ will assign a higher score to Customer A, as they are much likelier to order from you again. Even lower scores will be assigned to those who have not ordered from you in a long time, allowing you to easily drop them from your list and allocate your marketing campaigns towards those likeliest to respond.
Contact us today so that one of our database experts can run a FREE test of scoreRFM™ for you. We'll provide a report on the results, along with some suggestions for how you can run future campaigns with us using scoreRFM™ and A.B. Data's full suite of database services.