CRM (Customer Relationship Management) systems work to identify and use information to help you better serve your customers. Use the RFM formula, along with traditional CRM tools, to integrate disparate databases, identify buying trends, and optimize marketing campaigns and increase your customer’s satisfaction.

What is the “RFM” formula (Recency, Frequency, Monetary)?

Recency: How recently a customer bought. By tracking your customers purchase history (preferably with a “loyalty” program or discount club) you’ll be better able to anticipate their buying habits and market to them more effectively.

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