Using Machine Learning for growing commerce sales with customer segmentation
I'm currently working on a SaaS to grow the Ecommerce sales. In the past, I was lucky to work with some international brands and I tested this algorithm on each one.
What are the benefits to use the RFM?
- Identify your best customers
- Create email lists for Marketing automation
- Identify what customers are loosing
- Uplift your Conversion Rate and AOV (Average Order Value)
- No Ads Investments!
The RFM (Recency, Frequency and Monetary) is going to be one of the best method for showing deep customer purchasing data (today used on best business intelligence data software).
This is the first part of the project. The second part is based on the actions to do (tactics), in order to uplift sales using "Card Feedbacks" (based on Machine Learning alg.) that guide you deeper on the single steps to do.
The Machine Learning analyze each customer data and suggest you how to IMPROVE your sales, based on previous actions suggested and applied by other users in the past.
Today it's a simple dashboard which connecting your Google Analytics data, show important business and customer behaviours KPIs.
@alexgenovese have you tried implementing this idea yet? Can you share this dashboard with us? I've a similar idea.