In this article, you'll learn...
- How to better engage customers via real-time marketing
- Five steps to ensure you launch an effective real-time marketing campaign
Technological advancements have conditioned today's customers to expect instant gratification and personalized attention. Marketers are discovering that real-time marketing strategies can be a useful way to respond to these expectations and engage jaded customers.
The real-time marketing industry continues to evolve in response to a recent wave of new software technologies and the increasing accessibility of technology, data, analytics, and advanced marketing techniques. The rapid evolution of technology has paved the way for innovative organizations to enter the marketplace to enhance the customer experience across channels, targeting consumers based on their behaviors.
That's where "offer orchestration" comes into play. It involves both a prescriptive approach (subjective business rules such as product price, margin, and strategic placement) and a predictive approach (advanced statistical models that automatically detect relationships and behaviors). By integrating both approaches, marketers can better monitor, control, and simulate offers.
Not surprisingly, personalized offers enrich consumer interactions and marketers are already seeing the benefits of real-time interaction—a type of relationship that did not exist a mere decade ago.
According to analysts, a range of marketers is adopting new technology that can help recognize a customer's interests and provide actionable intelligence in real-time to any customer channel.
Once a niche capability, real-time marketing is moving toward becoming a standard component of larger vendor offerings. An offer presented by a retail associate, for example, might appear to be the same offer given to everybody who completes a transaction. A retailer using real-time marketing software, however, could present personalized offers based on who that person is and what he or she has purchased in the past.
The analysis happens in real-time, in a fraction of a second, and that customer is given an offer or message specifically designed to appeal to him or her.
So how can marketers better engage customers via real-time marketing? Here are five primary action steps.