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?
changed. 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
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.
The Customer is
receptive and welcomes
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.
Response rates to
marketing activity are
low and unwelcome.
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.
Time in Days
What are the results?
1.4 sales opportunities
in 5 years gives 0.28
per customer per year,
or about 280,000 sales
This means that, in a
bank, there are about
working day for every
million Customers that
Average Sales vs Servicing opportunities
per Customer over a 5 year Period
96 out of 100
Only 16% of
think EDM contacts
think Campaign contacts
EDM generates an
in Assets under
$50m down to
increase in Net
(NPS) of 18%
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
more information at http://www.eventricity.biz/PoBV.php