In recent Chief Marketer articles, we’ve explored the idea using RPI (relationship, persona, and intent) instead of RFM (recency, frequency, and monetary value) as the principal drivers of real-time marketing. We’ve looked at how RPI works in travel, B2B, SaaS, and retail with the story of Bob, a holiday season gift-giver who needs to be targeted intelligently and in real time when he visits a jewelry ecommerce site.
Let’s visit again with Bob, who is planning a ski trip with his two teenage sons. Though Bob has skied for many years, his sons have become avid snowboarders, and Bob has decided this year he also wants to try snowboarding.
Bob visits his favorite ecommerce site for winter sports equipment and begins researching snowboards. Bob has bought several pairs of skis from your site in the past, which means your RFM data recognizes Bob as an accomplished skier, not a novice snowboarder. That’s why in this particular case the RPI data becomes very important to being able to address Bob’s interests. It is a unique shopping instance for Bob. In this session you begin to understand Bob’s needs based on RPI:
- Relationship: Bob has visited your site previously, and he purchases skis in the past.
- Persona: Bob is researching snowboards and equipment typically reviewed by beginners.
- Intent: Bob has checked reviews on a particular snowboard and added it to his cart.
Relying solely on RFM, your site will make the wrong recommendations based on the behavior Bob is demonstrating in session. But with real-time marketing enabled by RPI data, you can make Bob an attractive offer based on his in-session activity – 10% off this snowboard if he purchases in the next 24 hours – before Bob goes off and explores products on other sites.
With RPI, you can begin building a real-time marketing profile the moment customers like Bob visit your site. Leveraging in-session behavior ensures that Bob’s needs are met, and increases the likelihood that he completes his purchase on your site without escaping to competitors.
Karl Wirth is CEO and co-founder of Evergage.
Related Articles:
RFM Versus RPI—Relationship, Persona and Intent
RPI Vs. RFM: Real Time Value in Software as a Service
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