MLRFM - RESET RFM SETTINGS
To open MLRFM, press <Alt M> ("Menu") and follow the Menu path illustrated below, then press <Enter>, or simply enter <MLRFM> in the "Enter Program Name" field and press <Enter>.
MLFRM is a rating system for your customer base. There are (3) components in the “RFM” rating system with each component receiving a value of 1-5. The best customers in the store would have a rating of “555”. You can use the new features of MLP to print your customers based on there RFM rating. Here is how it works:
R = Recent. BSMGR looks at when was the last time a customer made a purchase in your store. Based on the number of years of sales history for BSMGR to consider, (Values can be yr to 5yrs.. See SYS Config # 5005) BSMGR rates the recency of purchases. For example: A (5) might be those who have made a purchase in the last month. A (4) might be those who last made a purchase 31-90 days ago, etc.
Once the “R” rating has been set, BSMGR then sets the F and M rating. When completed, there will be 125 customer cells with approximately the same amount of customers in each cell.
F = Frequency. BSMGR look BSMGR looks at how often the customers have frequented the store in the last 12 months. Those customers who most often frequent your store are given a rating of (5) etc. Note on frequency, regardless of your stores transaction data, BSMGR will never give a frequency rating higher than the customers amount of visits. In other words, if your top customer had only (4) visits, BSMGR will not issue a (5) frequency rating to any customer.
M = Monetary. Customers are rated 1-5 based on who spent the most in the last 12 months.NOTE: MLRFM can be run at any time to recalculate each customers rating. We would suggest running MLRFM before any mailing in which you want to use it. Also note that the parameters used for the scoring are listed in a file in the book directory called “RFM.TXT”.