TRIGGER/EVENT MODELLING

Posted by:admin onJune 11, 2015

Trigger events happen during a customer’s lifecycle and indicate some change in the relationship with the company. If detected early, the company can respond to the problem and retain the customer; otherwise the customer may switch to another company. The CRM(Customer Relationship Management) system often allow them to track customer behavior at an individual level and target marketing contact points such as email, direct mail, phone, instant messages etc. at individual customers in a cost-effective way. It is useful to think about such targeted contacts as being of two types: Proactive and Reactive. Reactive customers are triggered by specific actions or inactions, hereafter labeled as trigger events, by the customer or the company. Proactive contacts are not triggered by any specific event.

A trigger event is something that happens during a customer’s lifecycle that a company can detect and portends the future behavior of the customer. A reactive contact is a targeted intervention that is made in response to the trigger event and is designed to either accelerate or avoid the behavior in the future.

Example: Suppose that a credit card holder has been using the card several times a week for routine transactions such as gasoline, groceries, restaurants, retail purchases, entertainments, etc. The customer has been a frequent “transactor” for several years. Suppose further that the frequency of transactions suddenly decreases is likely a trigger event because it could indicate that the customer will not be using the card as much in the future. The customer may have a new favorite card. The credit card should have reactive contacts in place to design to “save” this customer.

Leave a Reply

Your email address will not be published. Required fields are marked *

Our Clients

Kreara serve clients of all scales and geographies. We have extensively worked in the US and European markets with specific focus on analytics and application solutions for Pharmaceutical, Financial and Retail Sectors. Recently we have also started to work with the government, helping them to analyse public data and visualise it in a very user friendly manner. We try and treat each of our clients as our only customer and work with them very closely to understand and cater to their requirements.

corp
wrapmail
rcc
geo
suntec
novartis
diyar
rgcb
ventures
orion
ultimate
serole