DAYTON, Ohio —
Teradata Corporation (NYSE:TDC), the global leader in enterprise data warehousing, today announced that RBC Financial Group, one of North America's leading diversified financial services companies, is moving to the implementation phase of Teradata
Customer Relationship Management (CRM) for event-based marketing after a successful pilot at RBC earlier this year.
Event-based marketing incorporates software program rules and triggers into the marketing process 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. It can also call attention to those customers who may be interested in a complementary service or product.
"RBC needed a powerful event-triggered CRM software solution which could scale up to hundreds of simultaneous campaigns a year, engaging millions of individual customers through a variety of channels," said Ted Brewer, vice president, customer information management, RBC. "We believe that Teradata is capable of delivering on our CRM requirements at this level of magnitude. We expect that data warehouse-driven CRM tools will create relevant dialogues with customers across channels and will help us more effectively serve our customers wherever they choose to interact with RBC."
In the move toward best practices in advanced event-triggered marketing, organizations using Teradata for event-based marketing are now:
- Routinely scaling up and running hundreds of complex event-based campaigns a year, simultaneously, in a CRM environment that provides personalized and timely offers to millions of customers every day
- Managing the consistency of every contact to ensure that customers are not over-contacted and that all offers are consistent as well as relevant
- Using hundreds of event detectives that involve complex software code to manage the flow of leads from customer events to campaigns and ultimately back out to customers in the form of relevant individual "conversations"
- Architecting sophisticated channel capacity and workload capabilities to manage the allocation of event-based leads to the most appropriate channel based on capacity and the attributes of the channel
- Engineering multi-step, multi-channel capabilities to move each customer through the logical communication process across different channels
The benefits of such approaches are documented as dramatically increasing customer response rates, up to 60 percent; increasing customer satisfaction and retention rates at the 98 percent level; increases in profit of more than 28 percent in the first six-month period of use; and in the case of one bank, generating 570,000 sales leads representing $4.4 billion in new business in one year. Typically, companies realize a triple-digit return on investment in Teradata event-based marketing in less than one year.
Teradata's event-based marketing solution injects
enterprise intelligence into multiple-step customer conversations across multiple sales and service channels, such as the web, ATM and call center. Incoming signals from customer interactions can generate notifications to business sales agents for rapid follow-up and increased business revenue.
"RBC has been a Teradata customer for more than a decade and has leveraged the power of the Teradata Warehouse and Teradata Value Analyzer to become a globally recognized leader in the highly effective use of customer profitability analytics," said Sam Gragg, vice president of customer management solutions marketing for Teradata. "We are excited that RBC has recognized Teradata's unique capabilities for event-based marketing and is now introducing the Teradata Customer Relationship Management (CRM) software into its portfolio of enterprise intelligence applications."
Teradata recently introduced its new CRM solution, Teradata Relationship Manager Version 6, which will be available at the end of December. It injects enterprise intelligence into multiple-step customer conversations across multiple sales and service channels, such as the web, store, ATM and call center. Teradata has been a pioneer in cutting-edge event-based marketing software for more than 10 years across multiple industries.
About RBC
RBC Financial Group (RY on TSX and NYSE) and its subsidiaries operate under the master brand name of RBC. We are Canada's largest bank as measured by assets and market capitalization and one of North America's leading diversified financial services companies. We provide personal and commercial banking, wealth management services, insurance, corporate and investment banking and transaction processing services on a global basis. Our corporate support team enables business growth with expert professional advice and state-of-the art processes and technology. We employ approximately 70,000 full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients throughout offices in North America and 34 countries around the world. For more information, please visit
www.rbc.com.
About Teradata
Teradata Corporation (NYSE: TDC) is the world's largest company focused on raising intelligence through data warehousing and enterprise analytics. Teradata is in more than 60 countries and on the web at
www.teradata.com.
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Teradata is a trademark or registered trademark of Teradata Corporation in the United States and other countries.
