Event Based Marketing

Event-based marketing [EBM] refers to targeting marketing at individual customers. EBM asims to:

• Meeting each customer and his/her point of need
• Turn customer interactions into value-producing dialogues
• Rapidly improve customer relationships

Types of Events

EBM focuses on four event types:

1. Simple
2. Comple
3. Sophisticated
4. Real-time

At each level, there is an increase incomplexity – yet also an increase inbusiness value. Using powerful business intelligence CRM tools, marketers are equipped to manage customer relationships in the right channels, with impressive results in ROI.

This type of marketing helps focus an organisation on every customer interaction and transform it into an opportunity to engage the customer on individual needs and interests. Rather than attempting to meet the goals of the business directly, it focuses on meeting the goals of the customer, that has an indirect benefit to the business.

EBM transforms market segments from thousands, to a market of ONE.

Events include:

• Product or service-centric customer activity
• Interactions or inquiries at a business touch point - visiting aweb page, mouse-clicking on a specific item, doing a keyword search,
• Purchases of a product or service that may trigger complementary items,services, upgrades, or up-sell offers.
• Name changes, changes of address, and other personal events that signal life-stage or lifestyle changes or significant moments – as well as anydate-driven triggers
• Calls or communication of any kind from a customer with regard to products, services, complaints, or need forinformation
• Patterns of service disruptions (dropped calls), changes in phone activity or billing amounts, such as excessive roaming charges, that may signal a need to upgrade or modify service agreements, or availability of DSL or other new services
• Economic changes
• Rate drops or hikes
• Tax law changes
• External events such as legislation changes, weather events, disasters
• Competitor events - new product offering
• Equipment change - new cell sites in a competitive area, new entry into a specific market, new devices

In general, any changes in a specified condition (an event) could be managed as a potential opportunity to contact acustomer.

Marketers should choose event opportunities that best fit the company’s business strategy and objectives.

Events are either Tactical or Strategic:

• Tactical - Simple and Complex events that can be executed ad-hoc by a marketing user,and are usually improvised and sporadic.
• Strategic - Real-Time and Sophisticated events focus on finding relevant opportunities to communicate with customers.

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