Sanctions and Customer Churn Are Drivers of Compliance
SAN MATEO, Calif., Oct. 16 /PRNewswire-FirstCall/ -- E.piphany, Inc.
(Nasdaq: EPNY) a full suite CRM software provider, has revealed that 78% of
European executives are concerned with the damage to their businesses that
ignoring new EU privacy laws will cause. 52% believe that the threat of
prosecution or sanctions is the strongest driving force to compliance, whereas
42% perceived the effect on customer churn to be the deciding factor behind
the concern.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020724/EPNYLOGO )
With the new EU legislation in force from December 11 2003, 71% of
executives are concerned that negligence of personal data could have an effect
on customer churn. In addition, 70% stated that understanding and managing of
the new opt-in/opt-out laws was an important part of their marketing strategy.
According to George Wright, Senior Vice President of Worldwide Sales and
Service at E.piphany, "Concern is rife within the industry over the impending
EU legislation, as this research clearly shows. The changing marketing
environment, presented by pending and current EU legislation, is a minefield
for customer-centric organisations. The threat of customer churn and
financial penalty is real, and companies are just beginning to establish their
strategies for dealing with this threat."
He added, "Businesses must transform their customer interaction approaches
and maximise the power of in-bound marketing. In-bound marketing enables
companies to more cost effectively grow revenue and boost customer loyalty
-- whilst at the same time staying within the boundaries of the new EU
legislation."
The research was summarised from more than 50 senior European executives
across the retail, travel and financial services sectors. The survey was
conducted at E.piphany's Inbound Marketing event in September 03.
Other research findings included:
-- 97% of respondents agree that customer privacy and consent management
are important elements of their brand message.
-- 35% of respondents believe that the solutions of the CRM vendors fail
to adequately facilitate compliance with privacy legislation.
A white paper on the European Directives on Privacy and Electronic
Communications, entitled A Better Way - Legislation as a Driver for Marketing
Transformation is available on E.piphany's web site at: http://www.epiphany.com
The paper is written by Duncan Smith and E.piphany. Mr Smith is a leading
consultant on UK and EU information law and privacy legislation, and is an
associate of Ashton Court Management Consultants Limited. http://www.ashtoncourt.com
The E.piphany(R) Interaction Advisor software solution takes real-time
behaviour from telephone calls, the Web, branches, and ATMs, and blends it
with customer demographics, transactional data, and other information from
across the enterprise. Guided by strategies set by the marketing user, the
system combines this data with sophisticated on-line analytic technologies to
calculate offer acceptance probabilities, and selects and presents the best
offer for each individual customer. As customers accept and decline offers,
the self-learning analytics continuously adjust predictive models to improve
customer interactions without human intervention.
About E.piphany
The E.piphany(R) E.6(TM) Suite of CRM software solutions enables global
organizations to create a Customer Integrated Enterprise and align
touchpoints, processes and technologies around the customer. Built on the
industry's most advanced, service-oriented architecture, the E.6 software
solution creates benefits that cross departments and geographies, and result
in rapid, measurable ROI. With the E.6 Suite of Marketing, Service and Sales
software solutions, every customer interaction is driven by real-time
intelligence, enabling businesses to better understand their customers and
optimize every interaction from both a revenue generation and customer
retention viewpoint. More than 460 companies, including nearly 40 of the
Fortune 100, use E.piphany software products to enhance their customers'
experiences while, at the same time, realizing the companies' business
objectives. With worldwide headquarters in San Mateo, CA, E.piphany serves
customers in more than 40 countries worldwide. For more information, visit us
at http://www.epiphany.com
NOTE: E.piphany and the E.piphany logo are registered trademarks of
E.piphany, Inc. in the European Union and other jurisdictions. E.6 is a
trademark of E.piphany, Inc.
SOURCE E.piphany, Inc.
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Related links:
http://www.epiphany.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20020724/EPNYLOGO
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PRN Photo Desk, 1-888-776-6555 or +1-212-782-2840
CONTACT:
media, Courtney Zoog of E.piphany,
+1-650-356-5863, or czoog@epiphany.com; or Lindsay Stewart of
Access Communications, +1-415-844-6217, or lstewart@accesspr.com,
for E.piphany; or investors, Todd Friedman of E.piphany,
+1-650-356-3934, or tfriedman@epiphany.com
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