Teradata Enables Event-Based Marketing Success for Bank Leumi
Upgrade extends a decade of leadership in creating data warehouse-driven customer dialogues.
DAYTON, Ohio – Teradata, a division of NCR Corporation (NYSE: NCR), the global leader in data warehouse-driven enterprise intelligence, today announced that Bank Leumi, one of Israel’s leading financial institutions, has joined the growing list of companies achieving dramatic improvements in customer relationship management using data warehouse-driven event triggers for event-based marketing (EBM).
EBM uses software-based rules and triggers that detect, analyze and interpret customer events, transactions, and interactions. This enables companies to provide timely and personalized attention to customers who may be in decision mode with regard to a product or service.
The latest Teradata customer to deploy Teradata EBM technology, Bank Leumi, was ranked one of Israel’s top five companies in 2006 in trade volume, according to a new Business Data Israel report. The bank first installed its Teradata Warehouse in 2004, building on to it with Teradata Customer Relationship Management , and has recently made presentations in Europe as to the success and impressive results of the bank’s initiative.
“Communicating to millions of individual customers through a variety of channels is complex and challenging,” said Itzhak Malach, First Executive, head of operations, information systems and administration at Bank Leumi. “Bank Leumi is using its Teradata data warehouse-driven CRM tools to create relevant dialogues with customers across channels and serve them wherever they are. As a result, we have seen constant improvement in our customer management program performance.”
Ten years ago, Teradata’s first data warehouse-driven EBM implementation was launched, and numerous Teradata customers across the world have since added event-based communications to their customer relationship management portfolio. “In terms of performance and speed of data analytics, Teradata has no competition,” said one of the original customer-users of Teradata’s EBM solution, Fernando Ricardo, now program director of Program REACH at Westpac Banking Corporation in Australia.
Teradata’s event-based solution library now contains more than 1,000 defined customer events that are data warehouse-driven and used across industries around the world. Customers include British Airways, Continental Airlines, DnBNor (Bank of Norway), Travelocity.com, Verizon Wireless, Westpac Bank, and a number of premiere gaming and casino businesses. Online retailer Overstock.com also uses Teradata event-based triggers in user-based events from their web page, which automatically generate targeted e-mail marketing campaigns.
“Companies across industries and the globe continue to adopt Teradata CRM for event-based marketing because we have a decade of experience, proven methodologies and leading technology,” said Sam Gragg, vice president of Teradata Customer Management Solutions Marketing. “Over time, we have worked with our customers to identify more than 1,000 potential events across many industries, ranging from the simple to the highly complex.”
Teradata professional services consultant Ray O’Brien was the key innovator in the development of EBM, which became a unique Teradata product in 1999, then was built into Teradata CRM in 2003. “EBM is designed to focus on individual customer behaviors,” said O’Brien. “You could say that customers initiate a relevant communication based on something significant that they do, rather than being targets for a particular product or service. This was the beginning of what has become true customer-driven marketing.”
In a July 2006 Teradata CRM product review for DM Review magazine, Chinatrust Commercial Bank reported NT$479 million in new business on their EBM solution, repaying the cost of the first 10 campaigns and generating an average return on investment (ROI) of 168 percent. One Chinatrust campaign targeted former customers, with a 52 percent renewal rate. A campaign focusing on customers’ loan needs achieved a 32 percent success rate, while a customer retention campaign produced a success rate of 24 percent and an ROI of 220 percent.
“Teradata’s approach to event-based marketing has driven amazing results everywhere it is deployed – although some customers choose not to openly report their success metrics for competitive reasons,” Gragg added. “The use of Teradata for event-based marketing in gaming, retail, banking, telecommunications and travel industries has delivered returns on investment that frankly are unachievable through any other marketing means. We are taking the opportunity of our 10-year anniversary in this field to remind companies that they have tremendous untapped potential in their enterprise data. As global competition intensifies year after year, companies should consider making an investment in customer-driven marketing to gain competitive differentiation through real-time dialogues with customers. No company enables this better than Teradata.”
For more information on the Teradata CRM portfolio and event-based marketing, please visit the new Teradata Event-Based Marketing Web site .
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.