More about Event Based Marketing

Tuesday 05th, January 2016

Event based marketing makes it possible to offer new products or services to individual customers on any channel at the moment it is most relevant to him or her. This makes it possible to offer new products or services to individual customers on any channel at the moment it is most relevant to him or her.

When trying some Event Based Marketing, there are some important questions to ask – questions that will define the strategy that one must adopt. Which is absolutely imperative.

Questions like –

  • Is this event important by itself? Does the event need any additional data to become significant?
  • What event is more important than others?
  • What are the channels that could be used for which events?
  • What should be acted on now and what should be postponed to a later time?
  • Based on this event, what should one do? Is this a retention opportunity or a sales opportunity?
  • What extra information would enhance the experience of each customer for optimal service and benefit?

Finding the best offer

Once you have your events picked out for customers, categorise them into fixed and variable triggers – fixed event triggers have relatively predictable time components – could be birthdays or a yearly renewal of a contract or a recurring monthly deposit, etc. Variable event triggers are less predictable and can be more difficult to react to – address changes, or fund transfers etc. Monitor all these triggers and find the best marketing offer based on these triggers.

At the end of the day event detection is not event execution.

  • The first thing you should keep in mind is your customer – it all about him and the data about his behaviour.
  • And timing is everything. If you wait a week to contact your customer, you have definitely lost your chance.
  • Plan your strategy – once you have this information, and data about the customer, what will you do with it?
  • Do things differently. Aim for inventiveness. Some events could be opportunities to communicate. Others would be effective only when bundled with other events or other data.

This does not imply that EBM is a manual process – it just means that it needs human ingenuity and business acumen. Care must be taken to avoid bombarding the customer with annoying messages. . So it takes a smart marketer, with this smart tool, to think out of the box and make all the magic happen!

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