Audiences

Objective: To effectively utilize the RFM analysis and create targeted audiences in Ad Beacon for improved customer segmentation and marketing strategies.

Procedure:

Accessing RFM Analysis:

Navigate to the "Report" section in Ad Beacon.

Locate and access the RFM analysis feature.

Understanding RFM Concept:

RFM stands for Recency, Frequency, and Monetary, serving as a ranking system for customer segmentation.

Analyze customers based on recency of purchase, frequency of purchase, and monetary value.

Interpreting RFM Scores:

Scores range from one to five, with five being the highest.

Higher scores indicate more recent, frequent, and higher-value customers.

Identifying Customer Segments:

Identify different customer segments based on RFM scores, such as champions, loyal customers, potential loyalists, and lost customers.

Crafting Targeted Strategies:

Tailor marketing strategies based on the characteristics of each customer segment.

Use different messaging and approaches to engage with each segment effectively.

Creating Audiences:

Access the "Audience" section in Ad Beacon.

Click on "Create Audience" to begin.

Utilizing Predefined Segments:

Choose from predefined segments such as champions, loyal customers, etc.

Click "Explore All" to view all available segments.

Custom Audience Creation:

Click on "Create Audience" to build a custom audience.

Name the audience accordingly.

Select criteria such as order frequency, purchase behavior, etc., to define the audience.

Saving Audiences:

Once criteria are set, save the audience.

Monitor the status, which can be either "Success" or "Building."

Analyzing and Syncing Audiences:

Access full analysis and reports for each audience created.

Sync audiences with platforms like Facebook, Google, or TikTok for targeted advertising.

Utilize for lookalike audiences, exclusion lists, and cross-channel reengagement.

Testing and Optimization:

Continuously test audience segmentation and marketing strategies.

Evaluate performance and make adjustments as needed for optimization.

Conclusion:

By following this SOP, users can effectively utilize RFM analysis and audience creation features in Ad Beacon to enhance customer segmentation and optimize marketing efforts.