Wednesday July 23 8:11 AM EDT
Company Press Release
Financial firms gain database marketing powers through alliance between Acxiom and Exchange Applications
CHICAGO--(BUSINESS WIRE)--July 23, 1997--
Gartner Group: 'This alliance makes sense and should be of
great interest to many firms.'
An alliance between Acxiom Corp. in Conway, Ark., and Boston-based Exchange Applications Inc. will enable banks and credit-card companies to dramatically improve targeted marketing campaigns aimed at prospects and customers.
The agreement calls for the integration of the two companies' database software technologies, marking a major advance in the industry trend from mass direct marketing to highly focused marketing at customer segments. The companies announced their pact at the July 23-25 National Center for Database Marketing Conference.
The Exchange Applications/Acxiom offering leverages the tools from both organizations -- Acxiom's data cleansing, consolidation and householding capabilities and Exchange Applications' data access and campaign-management software. This ``total solution'' combines production-strength data-management capabilities with open-system, end-user applications.
``Based on the direction of the industry,'' notes Scott Nelson, research director at Gartner Group, ``the joining of Acxiom's data management systems with Exchange Applications' campaign management tools is an alliance that makes sense and should be of great interest to many firms.''
As a builder of the world's largest marketing databases, Acxiom has expertise in cleaning and consolidating information from multiple, disparate sources. The databases that Acxiom builds and maintains are used by clients to seek new customers and offer additional services to existing ones. Databases typically contain information on 50 to 100 million households and are utilized by companies in a number of industries.
Exchange Applications' flagship software product -- the ValEX Marketing Management System -- runs on top of marketing databases and allows marketing individuals to plan, execute, evaluate and refine targeted marketing campaigns. For example, one ValEX customer runs more than 300 direct-response programs simultaneously, each with its own stream of triggered events in an effort to reach the ``right customers at the right time with the right offer and through the right channel,'' explains David McFarlane, Exchange Applications' executive vice president.
Through the alliance, Acxiom's Financial Services Division will resell ValEX and integrate the software with Acxiom's massive prospecting databases. Two large credit-card companies already plan to use ValEX through the alliance. These firms have asked for anonymity, wishing to avoid publicity on what they perceive to be a competitive advantage.
Based on this early success, the Acxiom/Exchange alliance has been extended to include the telecommunications, technology, utilities and publishing industries.
``The alliance combines the recognized strengths of our database marketing companies in order to deliver the best possible solutions to our customers,'' says Acxiom's James Ivey, Financial Services Group leader. ``Acxiom has enjoyed great success in the bankcard industry because we have provided the most complete and accurate information and services available to use in acquiring new customers. With Exchange Applications, we add the best tools available for managing and tuning marketing programs. This solution is clearly superior to anything else in the market.''
Under the agreement, Acxiom personnel will be trained to install and support ValEX, which functions in a client/server environment.
According to Exchange Applications President Andrew Frawley: ``The industry is demanding large open-system databases that can be accessed and utilized not just by technical programmers, but by marketing professionals across an entire organization. By delivering ValEX on Acxiom databases, we're effectively turning information into action. We're enabling marketers to understand where to best allocate marketing dollars and how to better execute and evaluate promotional campaigns.''
Who is Exchange Applications?
Exchange Applications provides database marketing software and services that help companies maximize the profitability and value in all their customer relationships. Its ValEX software product contains an integrated suite of marketing applications that automates and accelerates a company's complete marketing and campaign-management process. The first product of its kind to function in a completely open environment, ValEX works with any database that supports an ODBC interface and integrates with a range of data mining, reporting, modeling and interactive Web products. Open environments free organizations from the shackles of proprietary architectures, enabling companies to choose and integrate best-of-breed products, scale their systems more easily, and adapt to changing technologies.
Branching from a marketing consulting firm, Exchange Applications incorporated in 1995 to deliver innovative software and services that proactively manage and enhance customer interactions across the enterprise -- from direct-response initiatives to customer service and other points of customer contact. In addition to marketing ValEX, the company provides marketing process and marketing application consulting as well as integration services for building marketing databases. Privately held, Exchange Applications runs operations in the U.S., Canada and Europe.
Who is Acxiom Corp.?
Acxiom (NASDAQ:ACXM) provides a spectrum of data products, data integration services, mailing-list services, as well as data warehousing and decision-support services to major firms in the U.S. and United Kingdom. Founded in 1969, Acxiom is headquartered in Conway, Ark., with operations throughout the U.S. and United Kingdom. Acxiom's World Wide Web address is (URL) acxiom.com or E-mail: info@acxiom.com or call Acxiom toll-free at 1-800-922-9466.
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Contact:
Exchange Applications
Steve Feldman, 617/737-2244
sfeldman@exapps.com
or
PAN Communications Inc.
Mark Donovan or Christina Pandapas, 508/474-1900
markd@pancomm.com
or
Acxiom Corp.
Marice Gardner, 501/336-1264
mgardn@acxiom.com
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