Towards Consumer Marketing in the New Millennium

11th Dec 2000
This paper assesses the relevance of 1:1 marketing to the world of banking. It begins by considering how a marketer can deliver a service that has an emotional impact on the consumer. "Speed, Timing and Relevance" in consumer communication are seen as the crucial factors. The paper goes on to argue a case for Individual Event-Based Marketing (IEBM), stressing the need for companies to have the ability to recognize "a Significant Event for an Individual, in a timely Manner". A methodology for implementation is described, and some possible pitfalls with "people, culture and processes" are flagged. The conclusion stresses the potential of IEBM as an add-on marketing strategy in a mass market, and suggests that IEBM can restore the power balance between consumers and banks to a more favorable situation for the banks.
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