In this article, you'll learn...
- Five ways retail marketers can better engage with customers
- How to use real-time marketing to enhance customer relationships and increase your bottom line
Real-time marketing is constantly evolving, and it's more competitive than ever now that finding new ways of engaging with consumers has become more important.
In recent years, a wave of new software technologies has swelled, and technology, data, analytics, and advanced marketing expertise have become more accessible. Those factors have paved the way for innovative organizations to enter the marketplace to enhance the customer experience—both in stores and outside of them.
Consider these new scenarios:
- With a swipe of a consumer's credit card, an in-store associate can determine that consumer's purchasing habits and automatically identify that she qualifies for a 20% discount if she buys certain merchandise that day.
- A retailer can prompt a consumer to come into its store by texting her a "buy one, get one 50% off" coupon as she window-shops.
Retail marketers are seeing the value in enriching consumer interactions by creating such personalized offers. Technology can now help recognize a customer's interests and provide usable intelligence in real time to any customer channel. The goal is to respond to the customer in a relevant and engaging manner. A mere decade ago, such real-time interaction did not exist.
Real-time marketing is not limited to the retail industry, however. An offer presented by an ATM machine, for example, might seem intended for everybody who uses the ATM. But if the company is using real-time marketing software, the offer is personalized. The analysis happens in real-time, in a fraction of a second, and the customer is given an offer or message specifically designed to appeal to her. Some analysts assert that such technology is moving from a niche capability, offered by a few best-of-breed vendors, to a standard component of larger suites, offered by mainstream vendors.
Retail marketers can initiate better engagement with customers by taking these five primary action steps:
1. Know the customer
Companies know a lot more about their customers than one might think. They have a record of all customer purchases and relevant customer-support conversations, which provides a baseline of useful information.