How you can prepare for real-time marketing

Responding to and predicting the customer's needs on a real-time basis using increasingly sophisticated data interpretation is the challenge, Altimeter's Charlene Li says

Real-Time Marketing (RTM) isn’t just about responsive or event-based campaigns but about truly understanding and anticipating the needs of the individual customer, Altimeter’s founder said.

Speaking at the Adobe Digital Summit in Salt Lake City in March, Altimeter managing partner and author of business books Open Leadership and Groundswell, Charlene Li, declared the age of RTM upon us, urging marketers to transform their operations from tactical, well planned campaign centres to responsive and predictive cross-functional teams that can engage with customers quickly and effectively.

“It’s the old adage of marketing 101 – getting the right message to the right person at the right time,” she told the audience. “RTM is the marketing of relevancy, achieved by first having a listening platform and understanding the conversation being had by your customer, then anticipating what that customer needs and sparking conversations. As a marketing organisation, you need to be constantly prepared.”

The future of RTM is data-driven, customer-centric communication that relies on building not only a profile of your individual customer, but also trust with them, Li explained. Data analytics and interpretation will play a huge role, as will new media channels such as Facebook, which open up personable ways to individualise the customer outside of their age group, marital status and transactional history.

“We are just at the very beginning of understanding that level of relationship and its aspects. The information is tremendous and the opportunities are fleeting,” Li said. As proof of how important real-time is, she pointed out responding to a customer within five minutes is 60 times more effective than if you’d responded in 24 hours.

“The challenge as marketers is keeping up with the dynamic customer in the influence loop of purchase, experience, loyalty, advocate, awareness, consideration and evaluation and moving people through that loop faster and faster. It’s not about driving transactions but also driving influence.”

The other big challenge facing marketers is agility and resilience. Li said most marketing organisations today are hierarchical and rigid. “What RTM requires is an adaptable organisation, one that takes changes as they are happening and has the systems, trust relationships and pre-approvals in place to say who can make these actual decisions and make things happen on the fly,” she said.

“RTM is going to be a forcing function for breaking down the silos and encouraging cross-functionality.”

4 ways of gearing up for Real-Time Marketing

Li defined four areas where marketers can focus to meet the real-time marketing challenge.

  1. Develop everyday discipline and processes for real-time: “You must be able to understand, respond, listen, engage, and listen back in continual motion,” Li said. One way of defining this is through a triage map, but she warned discipline, getting concurrence and then ensuring people stick with such a roadmap is crucial if marketers are to have any hope of RTM.

  2. Get your data house in order: “What you have to be able to do is ask the right question and look at what data you need to move that relationship forward,” Li explained. “Oftentimes that is going to come from a business person, not a data person. It will be a product owner, or someone who’s in charge of moving a campaign or metric forward… with data democratisation you will hopefully get that data out to the hands of the people who can make the decisions and in real time, when it really does matter.”

  3. Build trust-based customer relationships: As marketers collect and measure more personal information from their customers from multiple channels, there is a big risk of alienating the very customer they’re trying to build relationships with. “The trust part of the relationship begins now,” Li said. “You have to map out that relationship over time, to say what kind of relationship you want and build those trust levels around that.”

  4. Develop organisational agility: All marketers must now focus on agility in terms of mindset, not just the ability to create new and interesting campaigns, Li said. This includes recognising the inevitability of failure and making mistakes. “Google has the mantra of ‘fail fast, fail smart’,” she commented. “If you don’t have the ability to say sorry about it, recover and develop resilience within that customer relationship, then you won’t be able to do RTM.”

    It’s also important to train marketers to create judgement. Li recommended constructing ‘sandbox covenants’ or internal agreements about which risks you can take, and which you can’t.

Follow CMO on Twitter: @CMOAustralia.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

Is customer segmentation dead?

Ginni Rometty, the CEO of IBM, announced the death of customer segmentation five years ago saying, "The shift is to go from the segment to the individual. She might have been a bit premature for most marketers, but if customer segmentation isn't dead yet, it's definitely on life support.

Richard Taylor

Senior digital strategist, Spinach

How people buy brands

Andrew Ehrenberg was a giant in the field of marketing science. He believed scientific methods could reveal law-like patterns of how people buy. In this post, I summarise one of Ehrenberg’s most important discoveries and its implications on how people buy brands.

Kyle Ross

Strategist, TRP

Is artificial intelligence riddled with bias?

The purpose of Artificial Intelligence (AI) has always been to replace the menial and repetitive tasks we do each day in every sector, so that we can concentrate on doing what we do best. Saving time and money has certainly been a decent outcome as AI infiltrates the business landscape, however, now we are starting to see problems that cause major issues in practice.

Katja Forbes

Founder and chief, sfyte

“2019 will be the year brands leverage their social capital with consumers to help drive sales, answer questions, and act on the brand’s ...

Engenius

Predictions: 9 digital marketing trends for 2019

Read more

At the deeper levels of artificial intelligence, computing machines make all kinds of correlations among whatever data is available to th...

Fraction Tech

Is artificial intelligence riddled with bias? - Customer Design - CMO Australia

Read more

https://myiplookup.com/ - find your ip address and location information in our main page. Also there are many ip tools you can use : IP L...

savefrom

iSelect outlines new approach to arrest ineffective marketing as its reports full-year results

Read more

https://myiplookup.com/ - this website will allow you to View Alexa Ranking and graph Check http headers of a website, tool to compare te...

savefrom

The Star's first CMO creates all-new marketing team

Read more

Good tips to follow. Thank you!

Anna Travis

5 things every business can do to drive brand loyalty

Read more

Latest Podcast

More podcasts

Sign in