Social broadcasting has enabled consumers to engage with businesses in real-time. Social networks are getting increasingly popular when it comes to broadcasting messages in order to commence two-way communication in the form of dialogue or spreading an opinion. Twitter, Facebook and Instagram have become the utmost channel of communication for many celebrities, companies and retailers. When companies strategically devise their marketing strategy to reflect a current event, their product or service becomes more attractive or interesting to consumers. Instant satisfaction is what consumers want today, so by molding a relevant marketing message to consumers in a time of need, they are more likely to purchase a product or service because they will recognize the immediate utility that it can offer.
Artificial intelligence is now one of the most trending innovations of technology. So much so that communication can now be fully handled by it. Research indicates that humans sometimes favor automated communication as compared to spontaneous dialogue which alters depending on mood and perception. Ever since apple and android came up with Siri and Google as virtual assistants in devices, marketers pounced on to that opportunity to make consumers need these new gadgets to make their lives easier. This could simply be to get directions, send messages, make reservations or even get recommendations.
Real time marketing is blooming and here are 5 reasons why it is the most effective marketing strategy today;
1. Increase in target audience
Real-time marketing gives you the benefit of allowing you to connect to more and more people every day. Think of it as the spread of a virus as one happy customer leads to another and so on. Marketers can post pictures or feedbacks of happy customers which can attract new ones to buy their product or use their service. Blue ocean companies use unique selling proposition that establish a need of that product in the mind of the potential customer. For example, nobody uses a flip anymore due to the availability of smart phones such as the Iphone or Samsung. Not long ago, phones were more about physical design rather than features which brought about stylish phones such as blackberry porch, Nokia Xpress music, Xperia Walkman and Motorola flip phones. Motorola recently released V4 which is the personification of a smart flip phone. This channels the consumer’s love for flip phones and brings in a touch screen capable of folding, hence, possessing a unique selling proposition.
2. Better Customer Segmentation
Every customer is different and customer segmentation separates a vegan from a meat eater. Real-time marketing is like a research done to extract information such as likes, dislikes, lifestyle, race, religion and culture differences and design products or services that meet their preferences. This deepens the existing relationships and forms new ones in the process. For example, if an airline decides to give discounts on both business and economy class tickets regularly to its customers, there will be a greater interest. Also, records can deduce the percentage of people who bought the economy ticket and who bought the business ticket. This can be used for future campaigns to trigger consumer mindset according to the requirement of the airline.
3. Time saving
We live in a rapid paced world where time is literally money. Every second of the day counts. For real-time marketers, instantaneous and positive results are the core objectives for success. Businesses can meet their expectations with real time marketing. Information technology and speed of data today, customers are accustomed to rapid communication. Patience is a virtue that no one can afford these days because immediacy is not a perk but an expectation. Marketers can now plan day to day. For example, most diners in the US have their daily specials with special offers which lead to customer attention and curiosity triggered which makes them come again.
4. Urgency development
Customers are tricky. Some are triggered by psychological pricing whereas some are triggered by deadline themed sales. For example, “Jurassic world merchandise is now on sale starting at $13.99. Hurry and get your T-shirts, cups, stationary and collectibles now. Offer ends in two days”. Small music bands use bulk SMS to promote secret concerts on final days for diehard fans to attend. Think of it as the search for fluffy in Nick and Nora’s infinite playlist which is a perfect example of real-time marketing.
5. Marketing Automation
Marketing automation is basically marketing using software. Most of the time, marketing is about repetition which can be time consuming so these software come in to play. Real-time marketing is done over a ton of channels which mostly includes social media. Facebook, Instagram and twitter are channels along with amazon. Marketers can send promotional and Transactional Emails in Real Time in order to nurture Customers throughout the Entire Buying Cycle.
Real-time marketing is done in the moment. It’s just a matter of time when you see something and think about getting it. Businesses are smart and they are coming for you.