15 Jul eventricity announce successful EDM project at K&H Bank
eventricity Ltd announces the successful implementation of an Event Driven Marketing (EDM) project at K&H Bank using their Timeframe and Coffee application software.
“The quality of the leads was generally 4-5 times better, and in some cases, the results obtained 2-3 times better than we had achieved from other CRM solutions. Not only that but our customers really felt we were offering them personalised services,” said Attila Kezdody, Head of CRM support at K&H Bank.
K&H Bank Project
K&H Bank, a member of the KBC Group, is the second largest Hungarian bank by assets, offering universal financial service. K&H Bank’s retail operations cover all product ranges and segments.
In serving customers’ needs, timing and reactivity were seen as key issues and for this reason K&H Bank decided to implement Event Driven Marketing (EDM) in its customer contact approach. They selected eventricity as a company experienced in delivering EDM solutions into banking. Using eventricity’s Timeframe and Coffee, the Bank was able to implement their initial EDM solution in 3 months.
“In today’s economic climate, the best and most economical use of our resources is critical and we feel that Event Driven Marketing is a key technology supporting the Bank’s marketing direction and image,” said Dr. AndrÃ¡s Orosz, Head of Marketing Directorate. “It helps us to clearly focus our communications to our customers, offering timely and relevant services”.
“We wanted to offer personalised banking and we needed to be able to move and react more quickly. Not in months but in days or sometimes even in hours,” said KezdÅ‘dy. “Now we supply our sales force with leads on a daily basis for those customers who need to be contacted that day. We expected and are already achieving great results with this approach.”
Event Driven Marketing
An Event Driven Marketing approach analyses the needs and actions of customers individually on a daily basis to determine when something significant has happened to them and that they require contact. This is termed Customer Pull instead of Product Push. Research and results have shown that the average response rates for Event Driven campaigns typically range from 20% to 50% compared to the 2%-5% achieved using traditional CRM methods.
K&H Bank is one of the leading financial service providers in Hungary with around ‚¬ 13 Billion in assets and 240 branches. Headquartered in Budapest, K&H Bank is a member of the KBC Group. More information on K&H Bank can be found here.