RFM stands for recency, frequency, and monetary value of a customer. It is a customer segmentation tactic that focuses on customers’ spending habits generally and inside your platform. Learn more about what RFM segmentation is.
You can use RFM customer segmentation to analyze your customer segments further. Use the RFM analysis to determine your next steps in your customer acquisition and customer retention strategies.
Where can I find Gameball's RFM segments?
Go to Gameball Dashboard, and from the left bar, click Players > RFM Segments.
❗️Note: you will also find the RFM analysis on Gameball's Homepage.
What are the RFM Segments Gameball has created?
Gameball has created seven segments using the RFM analysis system. These segments could serve you with customer retention and engagement. Here are the seven RFM segments you will find on Gameball dashboard:
Best Buyers: players who have the highest purchase frequency, recency, and amount spent.
Loyal: with high recency and monetary scores, these players purchase the most frequently.
New Players: players who just joined.
Promising: players who are active, buy every now and then, and respond to promotions.
Can't lose: players who made big purchases but a very long time ago.
About to lose: players who are inactive for a while with very low purchase frequency and very low amount spent.
Lost: players who have the lowest purchase frequency, recency, and amount spent.
How to know more details about each of the RFM segments
You can hover over each of the segments to see the following:
To check the list of players under each segment, click on the segment name OR scroll down and click View Players next to the targeted segment.
You will be taken to this specific segment section, where you can see the players who fall under this segment and apply bulk actions to the list.
Here is the list of the actions you can apply to players under each of the RFM Segments:
Filter player lists using player attributes, tags, segments, or/and levels
Sort them based on the creation date or points earned
Reward a Challenge
Include/Exclude Players from the loyalty program
Update/Migrate Players' info
How to apply retention strategies using RFM segments
Segmenting players is an essential step toward more personalized and targeted campaigns. RFM segments help you classify your list of players to determine the type of actions and steps you need to take with each of the segments.
Taking "Best Buyers" RFM segment as an example, now that you have the players that fall under this segment group, you now need to think about what actions you can take from your side to ensure that these players stay under this segment as "best buyers."
Gameball is not abandoning you in this step - Segmenting players using RFM analysis! You can use Gameball's suggested retention strategies with each of the segments.
Gameball will give you a list of suggested actions along with ready-to-use templates so you can acquire, retain and engage your players depending on the segment they belong to.
Where to find the suggested retention strategy actions?
Under each segment on the RFM Segments page, click "Retention strategy for your players"
A list of actionable insights will be displayed.
Pick the first action you want to apply, then click Create Campaign, Create a Challenge, or Learn More.
❗️Note: by clicking "Learn More," you will be taken to a Gameball guide where you can learn about various strategies you can manually apply to serve your goal.
What happens when choosing to create a challenge or create a campaign?
Choosing to create a Campaign:
You will be redirected to the configuration page of an Outbound that is targeting the exact segment you initially chose. You will need to complete the rest of the outbound details, such as composing the message and sending it. Learn more about creating and sending campaigns/outbounds.
Choosing to create a Challenge:
You will be redirected to the configuration page of a challenge that serves exactly your business objective with the chosen segment, for example, for players under the "About to lose" segment, you will be taken to a challenge that rewards them with a coupon if they made an order. Learn more about how to fill in challenge details and deploy.
The challenge will be targeting the specified segment. This means it will appear on the widgets of the players that belong under this segment only.