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Difference between RF(M) Scores & LifeCycle Grids?

blog.jimnovo.com·@HashtagPLUS·about 1 month ago
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Jim answers questions from fellow Drillers (More questions with answers here , Work Overview here , Index of concepts here ) Topic Overview Hi again folks, Jim Novo here. Both RF(M) scoring and Lifecycle Grids use the same key predictive metrics – Recency and Frequency. So what’s the difference? RFM is a predictive “snapshot” at a specific point in time; LifeCycle Grids are more like a “movie” designed to be predictive over different periods of time. Another way to think of this: RFM is tactical, LifeCycle Grids are strategic. You dig? Let’s Drill … Q:   We’re a telecom company trying to get a handle on customer churn and defection, so we can come up with some programs that will hopefully extend customer participation.  We live in the no contract space, offering a service that’s an add on to wireless phone service, so we don’t have a good indicator as to when the customer relationship might end.…

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