How Real-Time Marketing Drives Really BIG ROI
In today’s world of faster, bigger, and better, marketing is certainly no exception. As consumers move faster and shop across an ever-expanding set of channels, marketers are learning to keep up and match consumers stride for stride.
Just how fast has marketing gotten? According to research by Evergage, 64% of survey respondents consider a real-time response to be within or under a minute. Marketers who are making the investment in real-time marketing programs are seeing very tangible benefits and huge returns on ROI.
According to the Everage research, the top benefits include increased customer engagement (81%), improved customer experiences (73%), and increased conversion rates (59%).
So what does it take to become a successful real-time marketer? Here is a look at some of the top tactics and strategies that will lead to results.
Connect with Social Consumers
Social media is an ideal platform to engage with consumers in the moment. A 2015 report by social intelligence software provider Wayin found that many marketers are using social in their real-time strategies and that social will continue to play an important role moving forward.
According to the research, 59% of businesses are planning to increase their real-time marketing budget within the next year. Among those 59% of businesses, 66% of them plan to increase social media spend specifically and 78% of those businesses also noted that they have three or more staff dedicated solely to social media.
However, while social can be a powerful tool to engage and interact with consumers, many marketers are feeling the pressure to respond more quickly in order to be truly effective at social marketing.
Automate Your Real-Time Messages with Marketing Automation
Real-time goes well beyond social, with 62% of respondents reporting marketing automation such as triggered emails as important to their real-time efforts.
Marketing automation uses your customer data and insights for automated campaigns. Although certainly not a new concept as this type of software has been around for quite some time, marketing automation can produce very near real-time campaigns that are highly targeted and relevant.
Take the example of an abandoned shopping cart on an e-commerce site. This data should be integrated into a channel such as email for immediate retargeting. Sending a message a week later may be too late. If a shopper is provided with the right incentive such as an emailed discount, they are much more likely to buy if they receive the offer in a timely manner. (eCommerce)
Know Your Audience
The key to any successful marketing strategy is knowing your audience. Not only does marketing need to cut through the noise, it needs to connect with the right person at the right time, in the right place, with the right message.
What does your best customers look like and ideal prospects look like? What have they purchased in the past or which channels do they prefer? Supplement your internal data with third-party enhancements including demographics, hobbies, and interests. Be sure to also make sure your data is current and up-to-date including contact information such as email addresses. You won’t be able to respond on the fly with a targeted message if you don’t have accurate data on who your customers are.
Real-time marketing enables marketers to craft messages to specific consumers, events, and moments. Econsultancy found that 84% of businesses see a better customer experience as a key benefit of real-time marketing. In turn, better customer experiences lead to increased sales and loyalty.
To learn how marketers are using real-time data and insights to target the right person at the right time through the right channel, download this free Right Time Marketing Data Solutions Guide.