10 Keys to Understanding Real Time Marketing
Having a presence in public discourse and participating in social “conversation” means you have to be active on social media. This space is where messaging of all kinds overlaps in very little time with gaining notoriety or even going viral being coveted goals. Marketing is not alien to the new trends; it seizes on their potential while adapting to stay in touch with users. This is why the so-called Real-Time Marketing has appeared in recent years and has consolidated. But what is it exactly?
The meaning behind Real-Time Marketing is bringing marketing and technology together while cross-pollinating all their variables to achieve more optimal performance. Above all, it’s all about connecting our marketing tactics to our current context to allow for real-time intervention in conversations happening on social media or any of the platforms where we find our target.
Real-Time Marketing is an effective method because we live in a social context that stimulates it. Let’s take a look at the tech that’s evolved and let us reach this point.
The roots behind digital marketing in real time
The ability to transform data into information that’s fundamental for contextual marketing comes from computers. The very first, the ENIAC from 1946, weighed 27 tones and could complete 5,000 addition and subtraction problems, perform 350 multiplication problems, and perform 50 division problems a second. This era was the time of valves, or the little bulbs that populated the inside of these machines. The first transistor didn’t get inside a computer until 1954, and in 1970, it got its first microchip. From there, these gradual tech advances led to supercomputers. Today’s next step is the quantum computer that can perform calculations on atoms’ physical properties, something we could never previously fathom.
Their storage capacity, data processing, and ability to work on networks, along with social media, have transformed data-driven marketing.
The Internet led to a top-down transformation of our economy, society, and the world around us. The Internet always keeps us connected, especially in major metropolitan areas with the demand from smartphone users who want to have “the Internet everywhere.” The Internet grants us access to information, third-party relationships (social networks), and the ability to capture data through smartphones’ technological complexity, all in real-time.
Smartphones, smartwatches, and wearables
With a powerful combination of compiling data and mobile technology, wearables and other digital beacons gather a wealth of data we can use to craft our marketing strategies and tactics. These devices, with smartphones and wearables leading the way, create a neverending swathe of data. When we cross-check this information with social media activities or the digital trail users leave behind (through transactions, trips, check-ins, and more), this data creates a fuller profile that brands can use to reach them with even more precision.
Now that we have the fundamentals that make real-time marketing, real-time email marketing, and any other tactic within our grasp, we now have several questions: What are the keys? What should we consider as we seek to deploy a successful real-time marketing automation strategy? Here are the ten points you can’t forget:
10 keys to managing real-time marketing
Big Data gathers data, establishes metrics, manages a variety of sources, cross-checks the information coming from all the data sources, and matches it to profiles. The more precise you can lay out your Buyer Persona, the closer you’ll get to pinpointing opportunities to correlate data and consumer behavior.
Research from Techjury found that Big Data lets Netflix save billions of dollars in customer retention costs, and estimates that the Big Data analytics market will be worth 103 billion dollars in 2023.
Segmentation to get to the core para alcanzar el centro de la diana
Know it may be just about impossible to reach every customer with your product offering and promos. You won’t get everybody’s attention. Still, being clear about who’s buying your product or contracting your service (Buyer Persona), their needs are, and insights that help you gain a better understanding of them, will help you clearly define the content you should produce, who you’re targeting, and when in the customer journey it’s relevant. Segmenting brings you closer to success, because segmentation lets you incorporate context and relevance into your 360º marketing strategy. Establish a range of products, scalable and adapted to the real needs of your buyers.
Decide what indicators you’ll use to distinguish your segments. Define the relationship you’ll have with your Buyer Persona(s) and craft an acquisition strategy for them. Ask yourself what you need to do to get them into the marketing funnel, how you will acquire them as customers, what you will use as reinforcement at each stage of the funnel and the tactics you’ll deploy at every step.
Social Media Marketing
It’s all about bringing your brand closer to your users. Social Media is the best channel to keep conversations alive, gain feedback on your strategy, and rectify any brand crisis that could pop up real-time, letting you take advantage of any open opportunities and reworking your value proposition.
Real-Time Bidding is all about standing out, getting ahead of your competitors, and seizing on price fluctuations in the keyword market. You should train yourself to bid in the moment and get the best impressions at the right time. It’s not easy, but you’ll enjoy quick wins in the form of more traffic, better SEO, and if you do your homework, higher conversion rates.
Real-Time Marketing is multiplatform and multichannel. We use our phones, tablets, and computers throughout the day. Our process could start on a phone in the inspiration, information, and comparison phase and end on our computer when we’re finally booking or going through checkout. It can also start on computers and end with a purchase in a brick-and-mortar store (ROPO effect) or that brick-and-mortar interacts with mobile channels through showrooming and webrooming.
What’s undeniable is that you need a holistic view through the omnichannel lense dominating today’s business space. Real-time marketing? Yes, but taking into account off, on and everything else.
As cliché as it sounds, the king of your strategy is content. That makes overlapping your funnel stages with a vibrant, relevant, evolving Inbound Marketing strategy or serving potential customers relevant content throughout your purchasing funnel is fundamental for scoring your leads and boosting our CRM systems with vitamins.
Remember that your brand content must align with your Buyer Personas, keywords, and SEO principles. What’s most important is to consider and prepare your content with multiplatform, multichannel transmedia storytelling at the core. must be aligned with the personal buyer, keywords and SEO, but above all think about and prepare your content always bearing in mind multi-platform and multi-channel transmedia storytelling.
Today's marketing is a matter of relevance. You’ll only be relevant to me if you connect with me, make me feel special, solve my problems and fulfill my wishes. But you can only do that if you know me. That’s why personalization is another crucial element in real-time marketing. Attaching your name to every touchpoint you have with a brand is crucial for winning over clients.
Speed means being fast
And being fast means having the need to be first. Analysis tools today allow you to draw your customer's profile like never before. Analyze your web traffic but also your mobile and tablet traffic. Cross-reference the data with sentiment analysis, mentions, social media brand influencers and from there, match them with CRM data, purchase profiles, etc. These tools accumulate all this data, enrich with business intelligence, and develop useful, accurate and effective dashboards for making decisions in real time.
One of the most famous examples of real time marketing was during the 2013 Superbowl power outage.
As we know, the Super Bowl is the most important marketing event of the year. Advertisers are competing for hundreds of millions of global audiences.
So who took advantage of this? Oreo, the cookie brand. And they did so by being the fastest and wittiest, connecting with their audience via a simple tweet: "Power out? You can still dunk in the dark". It made headlines in all the media and garnered over 15,500 retweets. The perfect example of real-time marketing.
Real Time Management
It's a question of marketing and technology. It mainly depends on solving four questions:
Platforms: What data do we get from them and how is it collected, aggregated and used?
Analytics: What does the data tell us about the purchasing behaviour?
Channels: What are they and what do our customers need in the different channels?
Experience: What is the overall perception of the brand by the customer at the different points of contact?
Real-time marketing requires an understanding of the capabilities of the technology you use, of the company's own processes, of the team specializations but, above all, of the interaction between them. Don't blindly trust only your marketing analytics, as well as only trusting your dashboard or technology. Your team's sense and experience is essential when launching campaigns, interacting with users in real time or developing strategies that are built on the basis of "I know you, I analyse you, I listen to you and I offer something to you".
Marketing without technology is not possible today, but technology without marketing is not useful for sales and business. What about you? Are you ready for real time marketing?
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