Event-Based Marketing – Future dilemmas and potential

Successful use of one-to-one marketing is strictly dependent on available customer information. This raises some practical as well as ethical dilemmas. While transactional/buying data often can be found in customer databases or the like, the acquisition of insightful, non-transaction related information such as interests, values, future purchase intentions, religion, political standpoint and other lifestyle characteristics are often based on consumers willingness to give out information. While this type of data collection is increasing, one needs to look at the reliability of data because incomplete and falsified information shortens the efficiency of direct marketing efforts. Ethical considerations concerns to what extend the company can use customer data. How far can we go in terms of use of customer data? Can we sell it to a third part?

Despite the various pitfalls, I believe that there are many opportunities within event-based marketing. Event-based marketing can contribute to profitable customer retention, increased customer service and relations as well as creating a closer relationship with the customer. However, it is difficult to predict the concept’s future success, as it is still a relatively unexplored topic in the scientific literature. There is no doubt that the rapid progress in the technological world, will support the development and allow for more intelligent forms of event-based marketing. I therefore believe that the future will have far greater emphasis on the quality of knowledge, including customer data validity.

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