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Event-Based Marketing: SunTrust Banks Pushes the Envelope with Its Sales Leads System

Published by: TowerGroup

Published: Jun. 26, 2006 - 10 Pages


Table of Contents



TowerGroup Take-Aways

Report Coverage

SunTrust Banks, Inc.: Background

Exhibit 1 Geography of SunTrust Banks, Inc. (2005)

Evolution of EBM at SunTrust

Exhibit 2 Time Line and Objectives of Event-Based Marketing Implementation at SunTrust (1999-2006)

The Sales Lead System Today

Exhibit 3 SunTrust Sales Lead Generation and Distribution Environment (2006)

Exhibit 4 Summary Page of SunTrust Sales Lead System: Screen Shot (2006)

SLS Governance

Business Results

Exhibit 5 2005 Sales Results due to SunTrust Sales Lead System (Through September)

Summary

Abstract

As banks embark on event-based marketing (EBM) programs, they can choose from a large number of options. These vary in complexity of the program and its comprehensiveness as well as sophistication of the underlying technology. One size does not fit all when it comes to EBM, and banks can choose solutions and devise programs that are appropriate for their size and technology budget. SunTrust Bank was an early adopter of event-triggered marketing. This TowerGroup Research Note discusses how SunTrust pushed both its solution provider and its internal staff to define new triggers and refine the overall marketing and sales concept when it implemented its Sales Lead Program.

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