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

1. 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