eventricity Ltd announces the successful conclusion of EDM workshops with Probusinessbank

eventricity Ltd announces the successful conclusion of Event Driven Marketing (EDM) workshops with Probusinessbank in Russia using their EDM process.

In Russia, Probusinessbank is using eventricity’s EDM definition process and has started an EDM pilot with their Timeframe software.

“Russia is still a developing banking market and Probusinessbank is at the forefront of this. We wanted to take the best marketing practices from the west and to implement them here,” said Sergei Leontiev, President of Probusinessbank. “Our challenge to eventricity was to implement Event Driven Marketing, not just for our Retail customers, but for our Corporate and SME divisions as well. We believe this is a first for an EDM project.”

Event Driven Marketing is a popular subject in the CRM world today. The desire to better target and communicate with Customers is a major part of business strategy and EDM is a key approach to achieving this.

Given this market need, there are still no products and no formal processes that a financial institution can follow. EDM is still predominantly a bespoke approach which is both expensive and fraught with potential pitfalls. Perhaps this is why so few Banks have been successful in implementing EDM to date.

Eventricity Ltd, a UK consultancy and software house, is a specialist in the area of Event Driven Marketing. They provide customers with a complete EDM implementation process covering the definition, development and implementation of Events. Further, they produce Timeframe, a framework application and a library of Events for the implementation of EDM in a financial institution.

Event Driven Marketing

Research has shown that the average response rates for campaigns using techniques such as segmentation, modelling and scoring are between 2% and 5%.

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. The same research showed that average response rates for Event Driven campaigns typically range from 20% to 50%.

Timeframe

Timeframe is an application designed for implementing Event Driven Marketing (EDM) in a Retail Bank. 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. The leads can be passed to any CRM tool currently in use by the Bank.

Contacts & further details:

Probusinessbank is a universal bank, covering the corporate, SME (small business) and Retail areas of banking. In terms of facilities, technology, services and products, it is one of the most advanced Banks in Russia. More information on Probusinessbank can be found on and http://www.prbb.ru

eventricity Ltd is a UK based software developer and consultancy focussed on providing complete solutions for Event Driven Marketing.

More information on eventricity Ltd, Timeframe and Event Driven Marketing can be found at https://www.eventricity.biz/ or by emailing

Mark Holtom, eventricity Ltd
Tel: +44-7803-231-802
Email: info_at_eventricity.biz

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