What Is A Cinema RFM Dashboard? Product Manager Q&A
A snapshot explanation of what the Showtime RFM Dashboard does for cinema chains, with Product Manager Tauren Spurling.
Recency Frequency Monetary (RFM) modelling isn’t a new concept. As a proven marketing model for behaviour-based customer segmentation it has long been in existence for many B2C businesses. For cinema marketers however it has historically been a difficult, manual and time-consuming process, limited to loyalty scheme members and paralysed by analysis that takes so long the results are often no longer relevant. As we’re in the business of solving exhibitor problems, Showtime set about creating an RFM Dashboard that would overcome these issues and make the dream of simplified, real-time RFM a reality. Coming from a family of exhibitors, Tauren Spurling knows first hand the challenges faced by cinema owners when it comes to collecting and using data effectively. Luckily for us, he’s also our star Product Manager and a key member of our Customer Success team, responsible for coming up with ways to solve these challenges. In this Q&A, he gives us a whistle stop tour of the new RFM Dashboard and how using it will benefit exhibitors in their customer marketing activities.
How/Why did the Showtime RFM Dashboard come about?
Tauren: From discussions with customers, they were looking for a way to understand the underlying trends, both growth and churn, in their customer base. Knowing how big your base is isn't enough; they wanted to know what the relative behaviours of this base were and how engaged their audience actually was.
What problems are we looking to solve by offering this to customers?
Tauren: Cinema chains had no way to look at their overall customer base in real time and understand how it was made up, meaning they couldn’t design the right marketing strategy around it . While knowing how many people come to your cinema(s) in a year is important, it is more important to understand the make-up of that customer base and how it is moving over time. How many customers are 'frequent fliers'? How many are new? How many only come once? How many have we 'lost'? And how are these numbers moving over time and why?
What benefits does it provide?
Tauren: Understanding the make-up of your customer base will give you the basis to set targets to achieve, marketing strategies to be employed, and a way of viewing if your inputs have a significant effect on your customers’ behaviour. The RFM Dashboard allows you to both understand the customer base from the perspective of how often they come, how recently they have been and what they are spending on, but also pinpoint sections of your customer base for specific marketing beats. You can identify the trends or the behaviours of your customers and provide specific campaign content to impact those behaviours by feeding the data seamlessly into the Showtime Engage marketing platform.
How would someone who isn't using Showtime Engage be able to use the RFM Dashboard?
Tauren: Being able to view and understand the make-up of your customer base will aid your decision making regardless of the marketing tool you are using, but you will also be able to export data from the RFM Dashboard and ingest it into your marketing platform.
Want to learn more? Have a look at our deep-dive into RFM in action with Irish cinema chain Movies@
Have a question or want to speak to our team about how RFM analysis could benefit your circuit? Get in touch