Ahead of the Curve
A bank customer who recently made a large deposit, for instance, might look like a good candidate for a mutual fund. However, the call center rep learns during a call that the customer plans to purchase a home. This information is fed into the system, and indicates to the rep that she should ask if the customer would like to hear about a mortgage offer.
As time progresses, explains Schmitt, "the offers that get the best response may be offered more frequently, depending on whether the goal is to increase response or profit."
Marketers are becoming more dependent on these rapidly evolving technologies. Says Schmitt: "Direct marketing is becoming more of a left-brain exercise. It's becoming more analytic, quantitative and measurable."
To read about some of the extraordinary new technology features in marketing, go to Technology Roundup: Products on the Cutting Edge. This article has been expanded to include even more meaty technology-driven initiatives.
For more on wireless communications, read Go Mobile: Marketing Takes to the Wireless Web.