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Customer insights with RFM +
Improving commercial drivers can only be done well when marketers truly understand the behaviour and needs of every individual customer.
In fashion a first step towards understanding your customers is to use RFM (R = recency, F = frequency, M = monetary value). Traditional RFM models are however a good start, but when utilising machine learning and additional customer attributes, HUMAI’s customer segmentation is much more refined, resulting in a higher increase of sales of existing customers. We like to refer to our customer insights models as RFM+.