01 Feb eventricity Ltd Release Timeframe & Coffee software for EDM
eventricity Ltd Announces the release of Timeframe and Coffee application software for Event Driven Marketing (EDM)
Following successful Bank trials, UK based software provider, eventricity Ltd, has today announced that its flagship Business Software applications, Timeframe and Coffee, have been made available for general release.
“We believe this to be the only application software of its type in the world. Using Event Driven Marketing, it adds a new dimension to existing CRM solutions allowing them to deliver response rates up to 10 times more than before,” says Mark Holtom, Director, eventricity Ltd.
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 (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.
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. This release provides support for both Oracle and MS SQL Server implementations.
“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 Holtom.
Event Driven Marketing requires detailed daily data for analysis and this places high demands upon any hardware and database system.
The current implementation of Timeframe and Coffee (vsn 1.2) runs 28 Events overnight against a database containing 1 million customers and over 140 million transactions in a time of between 45 and 60 minutes.
Details of the live environment are:
# Customers:approx 1 million
Operating System:Windows Server 2003
Processor:2 x Intel Xeon, 3.0Ghz
Disk:500GB SATA, RAID 5
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 go to www.eventricity.biz or please contact
Mark Holtom, eventricity Ltd