eRFM Customer Module uses a grading system that is measured by dynamic values captured from your pixel data.
eRFM stands for - Engagement, Recency, Frequency, and Monetary Value
How does it work:
A key feature of the eRFM audiences, lies in its special ability to continuously optimize. Over the course of 24 hours, the AI will determine which events are most suitable to optimize on, and creates a LLA with slight changes in recency, frequency and monetary value, based on the data gathered. After these duplicates, with slight changes, have been left to run for between 1-3 days, the software will pick the top performing audience, and use it for the desired ad-set.
Let's take Frequent Platinum Value Customers as an example:
- Starts with the broadest possible audience, just visitors.
- From audience one, the software will then optimize for only purchasers.
- If there is a large enough audience, from audience two, the software will then optimize for only purchasers who have visited multiple times.
- From here, from audience three, the software will optimize for only purchasers who have visited multiple times, and have bought high value products.
- The system will continue to optimize to get as specific as possible, until the audience is no longer big enough to deliver.
- For future reference, all audiences will be labeled as Optimized, so that you can find them later.
The distinction between platinum, gold, and silver is as follows:
💎Product A for 10$ - Silver (all purchasers with low value average)
💎💎Product B for 50$ - Gold (all purchasers with medium value average)
💎💎💎Product C for 100$ - Platinum (all purchasers with high value average) \
After choosing the right monetary value (silver, gold or platinum) each of the grades have three levels of frequency, targeting only those who matches that level of frequency. The software will create a dynamic three levels of frequency by calculating number of visits to your website
Infrequent - Visitors with lowest average number of website visits
Occasional - Visitors with a medium average number of website visits
Frequent - Visitors with highest average number of website visits
these are the allowed combinations of audiences to generate with the eRFM customer module
Silver - infrequent / occasional / frequent
Gold - infrequent / occasional / frequent
Platinum - infrequent / occasional / frequent
These audiences tend to perform significantly better since the custom data we use to build the look-alike is made up of customers with high quality traits and mostly due to the special optimization taking place outside of the Facebook platform.