08 Mar eventricity ltd announces Cequity as new partner in India
eventricity ltd announces Customer Equity Solutions as new partner in India.
Cequity’s CEO, S. Swaminathan said, “We believe that Event Driven Marketing is a key technology for creating a superior Customer Experience approach to business. Further that with the ongoing growth in the Indian economy, the timing is just right for release into our market”.
Ajay Kelkar, Cequity’s COO said, “Event Driven Marketing allows companies to build a Total Customer Relationship (TCR) and moves the engagement from a monologue mode of communication to a dialogue – from a company’s time to contact to a Customer’s time to contact”.
There are only a handful of companies in the Event Driven Marketing space and eventricity is the only company offering an EDM solution which was not incorporated as part of a larger CRM suite. This allows companies in the Banking & Telecom segments to be able to add EDM capability for their customers without replacing other investments already made in legacy CRM technology.
“Our plan is to integrate eventricity’s Timeframe and Coffee into the Cequity product suite and offer them as part of our solution to the Financial, Credit card and Telco market”, said Kelkar
The partnership deal will cover India and the neighbouring regions.
Event Driven Marketing
Current CRM tools use techniques such as segmentation, modelling and scoring in order to determine the customers to whom they will offer products and services. The average response rates for campaigns using such an approach are between 2% and 5%.
An Event Driven Marketing approach analyses the needs and actions of customers individually to determine when something significant has happened to them and that they require contact. This is termed Customer Pull instead of Product Push. The average response rates for Event Driven campaigns typically range from 20%-50%.
Timeframe and Coffee
Timeframe is an application designed for implementing Event Driven Marketing. It is a pre-packaged application containing a data framework, a library of Events and all of the Business logic for the implementation of an Event Driven Marketing solution.
In its simplest form, Timeframe is an automated process which will take daily data feeds from a Bank, analyse them and produce a list of leads. These leads are Bank Customers to whom a significant Event has occurred within the last 12-24 hours.
Coffee is a tool for filtering and optimising the Event leads generated by Timeframe before passing them to the Bank’s CRM Tool / Marketing Automation system for delivery to the Channels.
Timeframe and Coffee are designed to run in an automated fashion, and on a day to day basis require no user intervention. They are database and CRM tool agnostic.
“Implementation of an EDM system has always been a bespoke effort requiring in the order of $1m and 12 months to complete. With Timeframe, we were able to deliver a working solution within a few weeks at a fraction of this price. This approach dramatically reduces the risk and payback time for the Bank,” said Mark Holtom, director of eventricity.
About Customer Equity Solutions
Customer Equity Solutions (Cequity), based in Mumbai India, is a unique, technology-enabled, Customer Experience Management Company. Cequity helps enterprises by combining data, technology and services to build actionable analytical marketing frameworks thereby, enabling greater ROI on their marketing technology investments.
For further information see www.cequitysolutions.com or please contact
Ajay Kelkar, COO
About eventricity Ltd
Eventricity Ltd is a UK based software developer and consultancy focussed on providing complete solutions for Event Driven Marketing.
For further information see www.eventricity.biz or please contact
Mark Holtom, eventricity Ltd