RFM Analysis in Saved Search 📊

What's RFM? 👀

RFM segmentation helps marketers target customers more effectively. RFM stands for Recency, Frequency, and Monetary, a method that identifies valuable customers by analyzing their purchase history. It groups customers based on how recently they bought 📅, how often they buy 🔄, and how much they spend 💰.

This segmentation allows for tailored marketing strategies. For example, recent big spenders might get a "VIP customer" offer, while inactive customers could receive a "win-back" promotion.

RFM is a powerful tool for boosting customer engagement and sales. 🚀

How to Create RFM in NetSuite Saved Search?

1. Go to Reports > Saved Searches > All Saved Searches > New

2. Set the Search Title to RFM Analysis 📈

3. Criteria:

   • Type = Invoice 💳
   • Tax Line = false ❌
   • Main Line = false ❌

4. In Results:
   • Sort by = Amount 💰

5. Fields:

   • Field : Name , Summary Type = Group By , Label = Customer Name 🧑‍🤝‍🧑

   • Field : Formula(Percent) , Summary Type = Sum , Label = %Recency

     PERCENT_RANK() OVER (ORDER BY ROUND({today} - MAX({trandate})) DESC)

   • Field : Formula(Percent) , Summary Type = Sum , Label = %Frequency

     PERCENT_RANK() OVER (ORDER BY ROUND({today} - MAX({trandate})) DESC)

   • Field : Formula(Percent) , Summary Type = Sum , Label = %Monetary

     PERCENT_RANK() OVER (ORDER BY SUM({amount}) ASC)

   • Field : Formula(Text) , Summary Type = Maximum , Label = RFM 📊

     CASE 
         WHEN PERCENT_RANK() OVER (ORDER BY ROUND({today} - MAX({trandate})) DESC) BETWEEN 0.0 AND 0.2 THEN 1 
         WHEN PERCENT_RANK() OVER (ORDER BY ROUND({today} - MAX({trandate})) DESC) BETWEEN 0.2 AND 0.4 THEN 2 
         WHEN PERCENT_RANK() OVER (ORDER BY ROUND({today} - MAX({trandate})) DESC) BETWEEN 0.4 AND 0.6 THEN 3 
         WHEN PERCENT_RANK() OVER (ORDER BY ROUND({today} - MAX({trandate})) DESC) BETWEEN 0.6 AND 0.8 THEN 4 
         ELSE 5 
     END 
     ||
     CASE 
         WHEN PERCENT_RANK() OVER (ORDER BY SUM({internalid}) ASC) BETWEEN 0.0 AND 0.2 THEN 1 
         WHEN PERCENT_RANK() OVER (ORDER BY SUM({internalid}) ASC) BETWEEN 0.2 AND 0.4 THEN 2 
         WHEN PERCENT_RANK() OVER (ORDER BY SUM({internalid}) ASC) BETWEEN 0.4 AND 0.6 THEN 3 
         WHEN PERCENT_RANK() OVER (ORDER BY SUM({internalid}) ASC) BETWEEN 0.6 AND 0.8 THEN 4 
         ELSE 5 
     END 
     ||
     CASE 
         WHEN PERCENT_RANK() OVER (ORDER BY SUM({Amount}) ASC) BETWEEN 0.0 AND 0.2 THEN 1 
         WHEN PERCENT_RANK() OVER (ORDER BY SUM({Amount}) ASC) BETWEEN 0.2 AND 0.4 THEN 2 
         WHEN PERCENT_RANK() OVER (ORDER BY SUM({Amount}) ASC) BETWEEN 0.4 AND 0.6 THEN 3 
         WHEN PERCENT_RANK() OVER (ORDER BY SUM({Amount}) ASC) BETWEEN 0.6 AND 0.8 THEN 4 
         ELSE 5 
     END

   • Field : Formula(Numeric) , Summary Type = Sum , Label = R

     CASE WHEN PERCENT_RANK() OVER (ORDER BY ROUND({today} - MAX({trandate})) DESC) BETWEEN 0.0 and 0.2 THEN 1 
     WHEN PERCENT_RANK() OVER (ORDER BY ROUND({today} - MAX({trandate})) DESC) BETWEEN 0.2 and 0.4 THEN 2 
     WHEN PERCENT_RANK() OVER (ORDER BY ROUND({today} - MAX({trandate})) DESC)  BETWEEN 0.4 and 0.6 THEN 3 
     WHEN PERCENT_RANK() OVER (ORDER BY ROUND({today} - MAX({trandate})) DESC) BETWEEN 0.6 and 0.8 THEN 4 
     ELSE 5 
     END

   • Field : Formula(Numeric) , Summary Type = Sum , Label = F

     CASE WHEN PERCENT_RANK() OVER (ORDER BY SUM({internalid}) ASC) BETWEEN 0.0 and 0.2 THEN 1 
     WHEN PERCENT_RANK() OVER (ORDER BY SUM({internalid}) ASC) BETWEEN 0.2 and 0.4 THEN 2 
     WHEN PERCENT_RANK() OVER (ORDER BY SUM({internalid}) ASC) BETWEEN 0.4 and 0.6 THEN 3 
     WHEN PERCENT_RANK() OVER (ORDER BY SUM({internalid}) ASC) BETWEEN 0.6 and 0.8 THEN 4 
     ELSE 5 
     END

   • Field : Formula(Numeric) , Summary Type = Sum , Label = M

     CASE WHEN PERCENT_RANK() OVER (ORDER BY SUM({Amount}) ASC) BETWEEN 0.0 and 0.2 THEN 1 
     WHEN PERCENT_RANK() OVER (ORDER BY SUM({Amount}) ASC) BETWEEN 0.2 and 0.4 THEN 2 
     WHEN PERCENT_RANK() OVER (ORDER BY SUM({Amount}) ASC) BETWEEN 0.4 and 0.6 THEN 3 
     WHEN PERCENT_RANK() OVER (ORDER BY SUM({Amount}) ASC) BETWEEN 0.6 and 0.8 THEN 4 
     ELSE 5 
     END

   • Field : Formula(Numeric) , Summary Type = Sum , Label = Days from Last Purchased 📆

     ROUND({today}-MAX({trandate}))

   • Field : Document Number , Summary Type = Count , Label = Orders 📦

   • Field : Amount , Summary Type = Sum , Label = Amount 💲

Remark 🎉

I had a blast opting for a superior RFM value of

555 over the 111 RFM value! 🚀🌟 Have Fun! 🦄