Real-time marketing has become a well-known strategy amongst marketers. The concept has grown in popularity over recent years, providing marketers with the much-needed option to deliver relevant content to their target audience.
But what is it really all about? And should your marketing team jump on the bandwagon? In this blog post, I will do my best to answer just that!
The million-dollar question for every business is “how to become interesting?” More precisely, how do companies become interesting to consumers?
Consumers are exposed to hundreds of ads every day and only consume a small percentage of the products and services they are exposed to. Every business wants to be amongst the lucky few, the only question is how.
React in real time
It really all says it in the name. Real-time marketing is about delivering content to the consumers in real time. Why is this important, you ask? It comes down to the current consumer market. Things are changing fast and the consumers expect to be delivered relevant and correct information. That also includes paying attention to social happenings because they greatly affect and influence people.
Strategically associating products or services with current happenings is a great way for businesses to create consumer engagement. Pokémon Go and the Super Bowl are examples of such social phenomena.
With some help from technology, marketers can track consumer behavior across several channels, through every step of their buyer journey.
There are several ways to approach the practice of real-time marketing, and the technology is still very much in an experimental phase. You can, for example, use real-time marketing as a strategy to gain insight into when, where and how consumers react to different banner ads or to update content when needed. The approach can be used in combination with other marketing strategies or as a standalone.
Advantages of real-time marketing
LeadSift defines two main approaches to real-time marketing:
- Dynamic personalized content across channels
Marketers provide custom content to their audience.
- Relevant deliverance
The message is delivered at the right time on the right platform.
Consumer insight and knowledge is an important success factor in any marketing strategy. Marketers with limited consumer insight sometimes only focus on connecting the brand with current happenings to obtain real-time marketing. However, this can lead to both great success and total embarrassment, depending on consumers’ response and reaction to the brand’s communication style and message.
Take, for instance, the tweet Cinnabon made after Carrie Fishers death.
Real-time marketing reaches its full potential when dynamic personalized content is combined with relevant deliverance. Consumer data is a valuable asset to understand consumer behaviour, and when, where and how they respond most effectively to ads. Insight is the key to delivering the right message at the right time on the appropriate platforms.
LeadSift reports that 77% of marketers believe that real-time personalization is a crucial element to real-time marketing. The result is a solid boost in consumer sentiment (16%), purchase intent (14%), interest (18%), likelihood to recommend (18%) and seriously consider (18%).
The effect and implementation of real-time marketing also affect other channels, such as the brand website (12%), social channels (11%), search (16%), and word-of-mouth programs (16%).
This creates a larger demand for marketers to create a synergetic approach through all the brands channels, according to LeadSift. The result of real-time marketing is that consumers are 22% more likely to consider the company and the brand.
Curious about real-time marketing? Have a look at our guide to see if it's something for your marketing team. Download here for free: