The pinnacle of Advertising is real-time marketing.
What is real-time marketing, you say?
Let’s make it easier with an example!
During the third quarter of Super Bowl XLVII when a power outage at the Superdome caused some of the lights to go out for 34 minutes, the sandwich cookie’s social media team jumped on the cultural moment, tweeting an ad that read “Power Out? No problem” with a starkly-lit image of a solitary Oreo and the caption, “You can still dunk in the dark.”
So how did Oreo put their own twist on the lights-out scenario so quickly? Turns out they had a 15-person social media team at the ready to respond to whatever happened online in response to the Super Bowl including copywriters, a strategist, and artists ready to react to any situation in 10 minutes or less.
Companies influence clients with advertising campaigns that are personalized concisely to cause different triggers and gain a lot in return. Technological innovations form the foundation for these.
You are constantly collecting, ingesting, and analyzing data coming in from a multitude of different sources using a modern data management platform, or DMP. Due to their dynamic nature, you can use data in real-time in various ways than static data.
Everything happens at a rapid rate in today’s digital world. These small, static pieces of information are often not enough to keep up with the world around us.
Dynamic data can be updated in real-time, attributable to analytical software when there are modifications or shifts in trends. The outcome is more effective, more precise knowledge is gained that can be used for effective decision – making for the future.
The benefit of Real-Time Data :
One of the main advantages of real-time data is that it’s profitable. With conventional static data, it takes a long time to compile, analyze, and share feedback with decision-makers, so by the time you finish assembling the survey, the details already become obsolete. Feed real-time data through automatic systems and software, move it on to relevant stakeholders, and maximize it promptly, generating valuable and current knowledge.
Some easy Real-Time Strategies :
- Social Media :
- Posting updates, articles, offers, vouchers, promotions, and details about exclusive deals on social media networks such as Facebook, Instagram, and Twitter only for fans or anyone who “likes” the company’s page or profile.
- Individuals receiving these promotions are encouraged to forward them to anyone who might either sign up for or engage as well.
- Search Engine Ads :
Create & post ads that show up in response to particular keywords or topics on popular search engines such as Google, Yahoo! or Bing.
- Banner Ads:
Banner advertisements automatically appear in response to particular keywords on the search engine, which is called bidding in real-time.
- Email Campaigns :
Emails about news, information, or offer periodically sent to clients or representatives.
- Text Messages:
Send real-time SMS messages to consumers who “opt-in” on a company’s website for such exclusive text messages. This could involve ads depending on the person’s geographical location, or “Breaking News.”
How to use Real-Time Data to your advantage :
Now that you better understand the benefits of real-time data, let’s consider some ways in which it can be deployed to move your brand’s marketing ahead at a faster pace.
- Know who your customers are.
Real-time data enables you to accurately describe and depict your customers, including static data such as addresses, preferences, habits, etc. Real-time data deepens the core of who the public is. Know, specifics of the consumers.
- Finding the right data to get your answers.
The tactic is to determine by understanding the customers why the commodities of the competition work better. Even if you can’t obtain all the information you need, you can go through sources of second or third parties information. Or, you can take a look at the output and sediment data pertaining to the products you launched.
You can also gather in-depth information about your audience concerning age, gender, race, and more. And you can know about their monthly spending or family income. Include all this knowledge for future success and engagement improvement strategies.
- Analyze the conversion funnel from a different angle.
Your funnel is at the heart of your market, also called customer service or customer travel. This process includes multiple steps, from on-boarding to helping loyal customers.
Real-time data lets you evaluate this funnel from various angles. When designing the product or trying to enhance it, you look at it from a business and brand perspective. You could spend some time understanding your audience and trying to meet their needs. Sometimes perhaps you don’t think about what they feel.
By contrast, real-time data analysis enables you to track your customers through the entire conversion process and to respond to and touchpoint accordingly.
- Compare platforms to see what performs best & drives the most results.
Marketing aims for you to break the time between different networks, platforms, outlets, and systems.
With several possibilities, you may wonder which platforms are best suited to your company. Real-time data not only makes this a feasible option but also a fruitful one. You can track incoming data to see and adapt accordingly, what channels function best for a specific campaign.
- Provide a unique experience for every visitor.
In today’s industry, personalization is key. 75 percent of customers are more likely to purchase from a store or brand:
Recognizes them by name & Knows their buying experience, and suggests according to their likes.
Real-time Analytics tools and consumer insight systems enable this information to be collected, analyzed and implemented.
- Promote different products and services based on different insights.
Real-time data enables you to advertise the various products and services based on the information that makes its way in. You may boost a service launch, or optimize it. If you struggle to connect with the right audience, you can postpone a campaign entirely. You may also come up with something unexpected about which you would have never known otherwise. And all of this is driven by the kind of technologies that can reel in to open, real-time data analytics.
- Run tests in Real-time
For example, if you wanted to know if a product is doing well, you would need to compile the performance reports for that product over a prolonged period of time.
Now, thanks to modern analytics, that opens up so many potential approaches for any brand or organization, you can conduct tests and receive results in real-time.
- Identify what is working & what isn’t.
You are required to be able to respond to the changing needs and expectations of your consumers in addition to understanding them.
You can detect scenarios and problems from real-time data, and use them to your strength to influence your marketing efforts.
Something called predictive analytics enables you to make more detailed predictions about how a consumer base or audience will react to a specific step.
- React & respond to issues faster.
Real-time data helps you to better figure out what’s going on around you and within your audience, but it also comes in that you have to make split-second choices.
Smart businesses use this form of real-time data to respond to customer service issues faster. You can reach out to address the problem before a customer becomes angry and complains about a negative experience through social media which affects your brand and product credibility.
Conclusion.
With so much information collected and analyzed these days, customers perceive real-time interaction from all the companies with which they do business.. Leading operators understand that and will develop and implement strategies, innovations, and processes to allow real-time marketing activities to help meet those evolving demands.
Real-time data and real-time marketing are important for success in today’s economy. It’s too vast to overlook the advantages of real-time marketing and real-time data.
You can use real-time targeting to push your products and services efficiency and success for your company. More importantly, you will respond more flexibly, more quickly, and more precisely to patterns, customers, and even the competition.
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