State-of-the-art campaign management solutions are no longer simply tools to automate direct marketing campaigns but instead now provide personalised information that enables a financial institution to meet acquisition, loyalty, retention and relationship development objectives by enhancing its customer knowledge asset, delivering value to the customer and capitalising on customer interactions and touch points, according to a report that has been released by Meridien Research.
Campaign management has grown from one-way, broadcast-style, untargeted marketing communications into two-way, one-to-one, personalised, event-driven interactions. The depth of data that has become available is significant. Financial institutions should choose CRM products with a view beyond the immediate task at hand and consider the importance of the customer knowledge asset that they are building. It is critical that his asset survives despite ongoing campaign management software decisions and implementations, Meridien analysts said.
Meridien's report describes baseline solution capabilities and their stage on the evolutionary continuum, identifies important considerations when implementing a campaign management solution and discusses event-based marketing, a new breed of direct marketing solution.