What Makes a Good ListAug 28, 2022
I wanted to tell you guys about something that has helped me a lot in getting traction with people on the marketing side of things. It's an acronym called RFM.
Check out the video on my blog!
RFM stands for:
Recency, Frequency and Monetization.
So why does RFM matters?
With any type of advertising, whether it's your email marketing, your Facebook ads, direct mail, or any sort of media, RFM matters because...
Statistically, it's been shown that factors such as the amount of people that have recently done business with you, have recently spent money with you, and how often they spend money with you, all play into the value of that contact, right?
So not all contacts are created equally. There's people out there that have lists of like tens of thousands of people, or even like hundreds of thousands of people, but nobody opens their emails or nobody cares.
But if you have, what's called a buyer's list of people that buy from you regularly, that's a higher quality list.
- If you've been in touch with them more recently and they bought from you, that's a high quality contact.
- If they buy from you on a regular basis, that's a high quality contact.
- If they have a high monetization or they've spent a lot of money with you, that's a high quality contact.
Now, if you have all three going on, that's what's called a hot audience.
A cold audience doesn't fill any of those criteria. They've never seen you. They don't know who you are. They're not even aware of you.
Warm audience maybe has one or two of those things going on, a hot audience has all three.
So when you think about your customer list or the contacts that you have on your list, consider those three factors.
And when you're setting up your advertising, or you're looking at how to set it up, remember RFM.
If you need help with that, that's what our agency does. All you need to do is click here and I'll get in touch with you.
I hope you're having a great day, and we'll talk again soon!
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