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All the key facts you need to know about Event Driven Marketing

All the key facts you need to know about Event Driven Marketing

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Eventricity edm infographic Eventricity edm infographic Infographic Transcript

  • Event Driven Marketing is the approach which determines exactly the right time to communicate with a Customer (when they have a need, rather than when you want to push your product). Doing this is not easy, but the rewards of such an approach are great. Reference sources for all figures can be found at: http://wp.me/pwZAH-92 What is an Event? Window of Opportunity Actively Looking Status Quo Interest Status Quo Time Time Time Time Purchase Event 1 Happy Not Looking Something has changed. Not Looking Decided Actively looking Happy Not Looking In the state of Status Quo, the customer is happy with their product and not looking to change. After an Event has occurred, the Customer has not decided to change, but is open to suggestion. They are not looking elsewhere (yet). The Customer has had time to think and decides what they want to do. They now start to actively look for new and alternative products. This can be through the internet, references, word of mouth, etc. Google calls this the Zero Moment of Truth (ZMoT). In the state of Status Quo, the customer is happy with their product and not looking to change. 10%-20% <2% The Customer is receptive and welcomes communication. There is no competition. You are now in competition to gain mind share of the Customer. Response rates are good, but not as good as when you were the only competitor for the customer’s mindshare. I have just bought something and I am happy. Leave me alone. <2% 80% Response rates to marketing activity are low and unwelcome. 2 Positive response rates to an Event drop by around 60% per day, with 75% on day 1 to less than 10% on day 3. If you can’t contact within 2 days, don’t bother. 80% 50% 3 203 20% 2 3 4 Time in Days 1.4 5 Service Opportunities What are the results? 4 Banca Antonveneta 50% 50% Chu Reduction in and 5 Attrit National Australia Bank 64% 1.4 sales opportunities in 5 years gives 0.28 per customer per year, or about 280,000 sales opportunities per million customers. This means that, in a bank, there are about 1,000 sales opportunities per working day for every million Customers that you have. Raiffeisen Austria 80% r Leads from Events Driven Marketing generate average sales response rates of Campaign Leads from traditional targeted marketing generate average sales response rates of 2% Sales Opportunities 34% over 1500% 1 Giving an increase of Effectiveness % Average Sales vs Servicing opportunities per Customer over a 5 year Period 96 out of 100 Only 16% of CUSTOMERS CUSTOMERS think EDM contacts think Campaign contacts 7 24% were Positive EDM generates an average increase in Assets under Management of: 6 were Positive €€ $50m Marketing costs reduced from $50m down to $12.5m 8 EDM generates an average increase in Net Promoter Score (NPS) of 18% 18% 9 10 $12.5m 0 $89 m Now you have learned the 10 things you need to know about the results from Event Driven Marketing here is the 11th – you can implement this in your bank to achieve the same type of results using eventricity’s Proof of Business Value at a cost of: of new business in 9 months from 34 Events €75k more information at http://www.eventricity.biz/PoBV.php