During AOL’s heyday, Meyer Berlow was the rainmaker. He developed strategic partnerships with corporations looking for access inside the walled garden populated by AOL’s wealth of customers who never ventured to the outside world of the Internet. These strategic partnerships…
This is the final article of a three-part series discussing RFM models. If you don’t know what RFM stands for, I strongly advise reading Part 1 and Part 2 before Part 3. Not that anything presented here requires an advanced…
Recently I was training a group of sales representatives from a software firm on the use of a sales database my company was hired to build. The database stored self-reported and observed data from prospects (primarily responses to an online…
In Part 1, I described how to build a recency, frequency, and monetary (RFM) model in a traditional retail environment. If you haven’t read Part 1, I advise doing so before reading Part 2. Not doing so would be like…
RFM. What does this stand for? My mother might mistake these letters for the name of one of my favorite college bands (REM). A consultant may nod his head confidently, too embarrassed to admit he is unfamiliar with the latest…
Imagine this: You start a new job overseeing the Internet channel at a traditional retailer. Your first priority is to dig into the data to learn how your customers are interacting with the Web site. You meet with the vice…