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20
Jan

WHAT IS EVENT TRIGGERED MARKETING?

Posted by Vision/Eagle:xm Staff- on January 21, 2013

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Findings from Gartner show that a well implemented event-triggered campaign can save up to 80 percent of a marketer's direct mail budget. These savings are earned by using personalized on-demand printing based on triggered events, rather than mass mailings of uniform brochures to an unfiltered list of unqualified prospects. And that's just the tip of the iceberg.

Gartner's research suggests that event-triggered marketing messages have nearly five times the response rate of non-targeted push messages. Attaining these results is an achievable goal for campaigns that utilize a consolidated database which automatically captures customer activity from all points of contact, from on-line action, to customer service phone calls, to in-store purchases. Mining this data is crucially important to cross-sell and up-sell offers, and if it's not cross referenced with other purchase behavior or third party data, it's far more difficult to target personalized offers.

So what is event triggered marketing?

Event-triggered marketing includes identifying, categorizing, monitoring, optimizing and executing events such as after a purchase one attempts an upsell or cross sell or knowing that a customer has a high likelihood to defect after 3 months of service and sending them an incentive to stay. It can be applied in a multichannel relationship (such as social, mobile, direct mail, inbound call conversions, lead management and email marketing). It’s an approach to B2B and business-to-consumer marketing that addresses the appropriate timeliness of offers from the customer’s perspective, rather than the company’s perspective.

Large databases and good market timing are no longer sufficient to gain new customers and/or effectively market to existing ones.  Today there are significantly more channels for building two-way customer relationships, from phone to print to web to email. Thus, the dated one-dimensional practices (one mailing, one message, and one marketing program) must evolve, just as the technology has.

Event-triggered marketing tactics require two things: personalization, and a way to track previous purchases and preferences across many points of contact. To maximize the potential of event-triggered campaigns, marketers must put valuable customer and prospect information to work for them to "trigger" personalized messages, initiatives, and offers.  As marketers we must look at our current methods and technologies to ensure that the proper technology is being used to take advantage of the customer data collected and metrics are tracked regardless of which channel it came from.

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