Transpromotional marketing – yes, another new phrase that I heard for the first time this week. Wooing Customers in a Weak Economy was the source – an article on 1:1. Chris Stone wrote the article and it talks about the need to use different channels to contact customers and to do so consistently and in a personalized fashion – both hallmarks of using decision management of course. The phrase “transpromotional” refers to the use of transactional opportunities, such as statements, to deliver personlized promotions and marketing.
Taking this approach requires both an act of will – deciding to use these channels to deliver personalized marketing – and then a focus on the decisions involved. What offer/action is appropriate for this customer? How can I personalize it and make it attractive to them? How do I correctly include risk in my calculations as to what to offer. All of these decisions are classic opportunities for decision management or EDM as they take rules (policies, procedures, customer preferences), analytics (segmentation rules mined from data, predictions of risk and retention as well as opportuinty) and constant testing and refinement or adaptive control.
Transpromotional marketing – another use of EDM.