11 Jun eventricity Ltd successfully implements an EDM project at Banca Antonveneta
eventricity Ltd announces the successful implementation of an Event Driven Marketing (EDM) project at Banca Antonveneta using their Timeframe and Coffee application software.
“The quality of the leads and the results obtained were over 5 times more than we had achieved using traditional CRM techniques in previous projects. Not only that but our customers really felt we were offering them personalised services,” said Luca Nazzario, Head of CRM at Banca Antonveneta.
Banca Antonveneta Project
Banca Antonveneta is a Bank on the grow. Based in Padova Italy, it has expanded from a 100 branch regional Bank to have national coverage and over 1,000 branches in just 10 years.
This growth had created problems in their ability to address their market in a timely manner. “We were planning in January, the offers we were going to make in September,” said Nazzario. “We wanted to get back to our roots of offering personalised banking but we needed to be able to move and react more quickly. Not in months but in days or sometimes even in hours.”
Timing and reactivity were seen as key issues and for this reason Banca Antonveneta decided to implement a marketing approach based on Event Driven Marketing (EDM). They selected eventricity’s Timeframe as the only product based offering currently available in the market. Using Timeframe, the Bank was able to implement their initial EDM solution in 3 months.
“Now we supply the personal bankers with leads on a daily basis for those customers who need to be contacted that day,” said Nazzario.
To support their whole new approach, Banca Antonveneta is currently in the process of rebranding and refocusing its image and position in the market. The Bank’s strategy is to align with Italian market needs for more modern banking, providing new products and services across the whole range of key market sectors. This has involved strategic branding alliances with Disney and MTV.
“Event Driven Marketing is a key technology supporting Systema, the Bank’s new marketing direction and image,” said PierGiorgio Giuliani, VP of Marketing. “It allows us to clearly focus our communications and services to our customers. Offers are not just based on segments but down to the individual customer.”
Banca Antonveneta presented the results of their EDM project “From Segmentation Marketing to Event Driven Marketing” at the recent EFMA CRM conferences.
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 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.
Until now, implementing Event Driven Marketing has always been a bespoke effort requiring in the order of $1m and 12 months to complete. With Timeframe, a working solution can be delivered 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 of eventricity.
Banca Antonveneta is one of the main banking groups in Italy with around €50 Billion in assets. Headquartered in Padova, it has over 10,000 staff in 1,000 branches throughout Italy.
More information on Banca Antonveneta can be found at: http://www.antonveneta.it
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 www.eventricity.biz or by emailing
Mark Holtom, eventricity Ltd