There was a time not all that long ago when accurately measuring marketing performance was nearly impossible or, at best, challenging. The arrival of the digital communication era brought with it a method of accurately measuring the performance of every marketing campaign. By evaluating basic performance metrics, marketers are now able to adjust to changing consumer behaviors in real time. Real-time marketing is the process of monitoring consumer responses to marketing messaging and then adapting a campaign’s content and tactics in real time.
Staying adaptable to digital media and making ongoing adjustments to initial assumptions permits immediate opportunities to adjust content creation that results in improved consumer conversations. Consumers are increasingly dynamic when it comes to how they listen and interact with brands. Informal and personalized content that is original, conversational in tone, and authentic can elevate a brand to an informed, capable, and even expert status among a targeted audience. Gone are the days when customers would wait patiently for responses; the modern consumer seeks immediate gratification and instant solutions. Real-time marketing reveals how potential consumers are engaging with the brand and provides a marketer with an opportunity to respond to customers’ evolving demands immediately.
Pivoting an organization’s marketing strategy to a real-time environment can be challenging. A study conducted by the CMO Council revealed that “just 7% of marketers are able to “deliver real-time, data-driven engagements across physical and digital marketing touchpoints, and only 5 percent say they are able to determine the bottom-line impact of these engagements. Fewer than 1 in 10 marketers are leveraging real time marketing.” So, why are so few marketing organizations failing to recognize the benefits?
Change is inevitable in all realities but transitioning to a real-time marketing strategy requires courage and an in-depth understanding of the processes involved. Many businesses lack the necessary tools to collect and analyze data to make real-time adjustments to existing campaigns. Often such changes need multiple stakeholder approval and expose collection, storage, processing, and security and compliance issues commonly associated with data collection. A real-time marketing effort involves combining marketing and technology to achieve optimal outcomes.
“The end goal is to reduce noise in marketing communications and optimize the cost of campaigns. Real-time marketing has been the most influential trend in marketing over the past few years,” said Luke McGrath, Chief Technology Officer at Hitachi Solutions. “If we can identify the signals that customers are sending in real time, it allows us to deliver a more targeted and relevant message.” According to a white paper by Hitachi Solutions, 80% of CEOs expect marketers to drive brand growth. Real-time marketing breaks large, complex growth strategies into smaller, more manageable segments that are easier to manipulate and employ. Still apprehensive about making the “Real Time” switch?
Junction Creative Solutions (Junction) is an award-winning results-driven agency committed to creating high-impact solutions. Our experienced digital marketing team is adept at executing smart, purpose-driven marketing campaigns to drive growth, optimize marketing solutions, and maximize results. For more information on how we can help you create an impactful real-time marketing strategy, call 678-686-1125 today.