Recency, Frequency, and Monetary Marketing

By using the RFM model you can automatically create customer groups and approach them in a personalised way, which increases conversions and turnover.

The RFM model allows for better, accurate communication with your customers. This proven effective model targets your customers through segmentation based on the following characteristics:

R – Recency – When was the last time your customer visited

F – Frequency – How often does your customer come to the store

M – Monetary – How much money does your customer spend

Read more here