Event-based marketing is the identification, definition and execution of campaigns based on events that affect a customer relationship. It's an approach to business-to-business and business-to-consumer marketing that addresses the appropriate timeliness of offers from the customer's perspective, rather than the company's perspective.
Both individually oriented events, such as a customer depositing a large amount to a savings account, having a series of dropped cell phone calls in a short period of time, or abandoning a shopping cart, as well as non-individually oriented events, such as a network outage, a snow storm in Vermont, or a sports team winning a game, are now able to be identified in Outbound Marketing and associated with campaigns. These campaigns can then be executed immediately (or after an appropriate delay) when triggered by an outside event. No time delay due to loading the data mart is necessary, thereby ensuring that the campaign reaches its recipients at the most relevant moment.
Read this paper to learn how Event-triggered marketing has seen five times the response rate of non-timed mass-marketing campaigns and how your company can take advantage of event-based marketing by using Infor CRM Epiphany Outbound Marketing suite.
Infor CRM Epiphany > Whitepaper Infor CRM
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using event-based
marketingWhat is event-based marketing?
According to Gartner, "event-based marketing is the identification, definition and execution ofcampaigns based on events that affect a customer relationship. It's an approach to business-to-business and business-to-consumer marketing that addresses the appropriate timeliness ofoffers from the customer's perspective, rather than the company's perspective." Theycontinue by saying "Event-triggered marketing enables more-relevant offers to customers,based on segmented meaningful events, rather than non-segmented mass campaigns, whichcan cause customer contact fatigue. Event-triggered marketing has seen five times the1response rate of non-timed mass-marketing campaigns."
Marketers have always been able to execute event-based campaigns in Infor CRM Epiphany Outbound Marketing using information already available in the data mart. However, for event-basedmarketing to be truly successful, a campaign must reach the customer at a time when thecustomer recognizes the need and is receptive to an offer that will fulfill that need. Becausethe information available in the data mart inherently has an element of time delay, a newoptional module has been added to the Infor CRM Epiphany Outbound Marketing suite to be able to trigger real-time campaigns based on events detected outside of Outbound Marketing. This willgreatly improve the effectiveness of these event-based campaigns.
Both individually oriented events, such as a customer depositing a large amount to a savingsaccount, having a series of dropped cell phone calls in a short period of time, or abandoning ashopping cart, as well as non-individually oriented events, such as a network outage, a snowstorm in Vermont, or a sports team winning a game, are now able to be identified in OutboundMarketing and associated with campaigns. These campaigns can then be executedimmediately (or after an appropriate delay) when triggered by an outside event. No time delaydue to loading the data mart is necessary, thereby ensuring that the campaign reaches itsrecipients at the most relevant moment.
1 Hype Cycle for CRM Marketing Applications, 2007, by Kimberly Collins et al, Gartner, June 27, 2007
Infor CRM Epiphany > Whitepaper Infor is in no way committing to the development or delivery of any specified enhancement, upgrade, product or functionality. See "disclaimer" paragraph contained herein.How will this help you grow customer relationships?
Offers from event-based campaigns are delivered during a timely event within the customerlifecycle and are done with permission of the customer; they are viewed as a valued service,rather than an interruption or intrusion, as some outbound marketing messages are viewed.Because of this, the customer is more engaged and willing to listen to a relevant offer ormessage.
Examples of how event-based marketing campaigns can be viewed as a service to thecustomer include:
< A customer deposits a large amount to a savings account; this can generate a note to a branch manager to call this customer to discuss services for high net-worth customers or to inform the customer of higher yield accounts, such as CDs, for example< A customer abandons a shopping cart; this event can generate an email to the customer with an offer of free shipping if the shopping cart's contents are purchased within the next 24 hours< A customer has a series of dropped cell phone calls in a short period of time; this could trigger a customer care campaign which would initiate an outbound call to the customer from customer care with an offer of a new multi-band phone to avoid dropped calls in weak service areas< A snow storm in Vermont can trigger an email from a ski resort to its customers telling them of the new blanket of powder and providing a discount coupon on a lift ticket within the body of the email< A sports team winning a game, perhaps the Super Bowl, can generate email notifying the winning team's fans that championship t-shirts and hats are now available at the on-line store< A patient whose medication has run out but has not been refilled; this can generate a call from a nurse to remind the patient to fill the prescription
These and many more examples of event-based campaigns are feasible with the newoptional Event-Based Marketing... [download for more]
