Learn how eRFM can improve how well you understand your ecommerce customers and contacts.
eRFM is our ecommerce behavioural model designed to help you better understand the potential of your contacts.
We've combined our RFM model (Recency, Frequency, and Monetary) that looks at a contact's purchasing behaviour with our engagement model that looks at the engagement of a contact – for example, their email opens and clicks, web sessions, and abandoned carts.
When we combine these models, we can better understand and detect purchase intent across various customer types – from inactive contacts to champions. These are called Opportunities.
The decision window
At the core of eRFM, we have the decision window. This is the timeline where a contact makes a purchase. The decision window timeline goes like this:
We set this timeline as 30 days by default, but you can change this if you want.
As the decision window develops, we assign a score to your contact to determine how likely they are to make a purchase. If your contact is engaging well by opening emails, clicking links, and viewing webpages, they will be scored high by the eRFM model.
How eRFM scoring works
We score your contacts throughout the decision window based on three factors:
- Email opens
This is the weakest scoring criteria.
- Email clicks
This is the middle scoring criteria.
- Viewing your webpage for five seconds or more
This is the highest scoring criteria.
As time passes, the scores start to decline until the end of the decision window, where they reset entirely. The eRFM scoring model updates every 24 hours.