BUDGETING : Journal of Business, Management and Accounting
Vol 5 No 2 (2024): BUDGETING : Journal of Business, Management and Accounting

RFM Segmentation Analysis for Determine Online Marketing Strategy: the Soul Coffee Mate Case Study

Aldyah, Tika (Unknown)
Sugino, Agus (Unknown)
Muzakkar, Milastri (Unknown)
Heikal, Jerry (Unknown)



Article Info

Publish Date
13 May 2024

Abstract

This study explores the impact of digital marketing on a cafe named The Soul, located in Jakarta. The cafe experienced a recent decline in sales attributed to factors such as new competitors, closures of nearby establishments, diminishing trends in working from cafes, and changes in customer demographics. Recognizing the need for a robust online marketing strategy, researchers aim to analyze customer segmentation using the RFM model, focusing on Recency, Frequency, and Monetary aspects of transactions over the past 11 months. The goal is to understand customer behavior, design effective online marketing strategies, and ultimately boost the company's revenue. The RFM analysis results identified eight customer segments for The Soul: Soulmate, Loyal Customers, Potential Loyalists, Promising, New User, At Risk, Can't Lose Them, and Hibernating. Proposed strategies include personalized promotions for different customer segments, such as monthly appreciation for "Soulmate" customers, discounts for loyal customers, and targeted communication for new or inactive users. These strategies aim to enhance customer engagement, loyalty, and satisfaction through digital promotions and personalized interactions. Keywords: Cafe Business, Customer Behavior, Customer Segmentation, Customer Loyalty, Digital Marketing, Online Promotion, RFM Model, Sales Analysis

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Journal Info

Abbrev

BUDGETING

Publisher

Subject

Humanities Social Sciences

Description

BUDGETING : Journal of Business, Management and Accounting is published by IPM2KPE as an information and communication media for practitioners, researchers and academics who are interested in the field and development o, Business, Management and Accounting .The journal is published annually 2 times ...