I was asked by a Bank recently if we had an ‘Event engine’ that could handle and process 200,000 ‘Events’ per second. It seems that they are interested in Event Driven Marketing and we have had some discussion about this, but they are receiving advice from a leading consultant, who told them this would be a minimum requirement for implementing Event...

I have often tried to explain the Event Driven Marketing comprises three main functional areas; detect the Event, determine if it is significant and communication. In order to be completely successful with EDM you need to consider and address all of these areas. A good example of addressing the first two areas and then getting the communication wrong can be found...

First of all, let’s start with a little marketing 101. Here is a fairly standard Marketing Automation graphic showing the steps in moving a customer from being a prospect through to being a delighted advocate. In 1986 Jan Carlzon, the former President of Scandinavian Airlines, wrote a book titled Moments of Truth. The core principle presented in the book...

In its simplest form, traditional campaign management is the matching of lists of people to products or services to be delivered through a channel. Following this, the timing, planning and scheduling of campaigns is based on when a Bank wants to communicate with their customers with regard to particular products, eg. If it’s January then it must be a Mortgage campaign,...

I love the scenarios that the EDM solution providers talk about. It really tells you a lot about their approach to marketing. Here are some I have culled from a quick Google on “Event Driven Marketing”. Imagine that your customer Susan is on your website and looks at two products, adding them to her cart. But before she checks out, Susan...

As discussed in the previous post, I believe Banks are Service based rather than Product sales organisations. The problem is that historically Banks have set up their marketing based on selling Products rather than providing Services. Product based marketing is about finding people for your product. The product approach lacks the key element of Timing. Using statistics, I can safely say...

Each product that a bank sells will be used many times by their customers. For example the sale of a credit card can result in usage 100, 200, or even more times a year. Each of these is the customer making use of the service provided by the credit card. That’s hundreds of opportunities for service based on a single...

I was at a conference recently where three of the presentations that generated the most interest most were about Event Driven Marketing. It soon became clear that whilst their definitions of EDM were quite similar, they were actually talking about quite different things. This was to do with their implementations. One camp was in the batch processing of Events and the...

I was in Paris last week, attending the EFMA CRM conference. One presentation that stuck in my mind was given by Graham Flowers of Finalta. His assertion is that we are now in the third phase of CRM systems. The first phase (in the 90’s) can be termed the Data phase. You remember that. It was when we tried to gather...