Marketing Campaigns? So 2014

"Why make...quarterly reviews of budgets and monthly controls, when our consumers are changing their behaviour hour by hour?" -Lars Silberbauer, Lego

Were these guys at your last planning meeting? If so, they were probably talking about marketing campaign calendars. With marketing evolving so quickly, its becoming apparent that real time marketing is critical to successful business outcomes in 2015 and beyond. And this means that the planning out of traditional marketing campaigns could be going the way of the '70's leisure suit. A recent study completed by Wayin, a social media and contextual content company states that, "the most effective strategies are now powered by real-time moments that require brands to be agile and creative on the spot."

Instant gratification is no longer just for your 5 year old at home. Your coveted prospect is on the lookout for your product or service and you'll need to deliver the content, experience and presence she's expecting when she's expecting it. Decisions are taking place at a faster pace. Will you be there when that decision occurs? Or will your standard email arrive 2 days later? Not only that, but you'll need to cover your bases in all of the channels that consumers frequent including websites, mobile apps, retail stores, call centers and social channels.  According to the study, marketers are beginning to weave in real time tactics into their marketing mix and it is paying off. 98% of marketers in the Wayin survey reported a direct positive revenue impact from their real time marketing(RTM) efforts, with 59% planning to increase RTM budgets for next year. Yet while marketers acknowledge the need for RTM and its value, many are struggling to get their arms around it. Further, it is such a disruptive new approach that it is being met with a heavy dose of reluctance. This means though that the early adopters have a chance to blaze a trail and lead their organizations to new levels of success. Let's discuss this in more depth including how marketers are leveraging this powerful strategy to drive revenue for their organizations.

What are the benefits Real Time Marketing? 

Real-time is so much more than just a comms strategy, marketers should start to view it as a business model.This according to Lego social media director, Lars Silberbauer. See the great article here: http://ow.ly/3y0CPb So what are the early benefits of RTM?

1. Higher response rate: The right offer for the right customer delivered at the right time is marketing that is so relevant it feels like a service(IBM). Response rates for real time marketing efforts average in the 60% range(Digital Alchemy)- a staggering number which has contributed to the steep ROI figures attached to this movement.

2. Speak to the customer 'in the moment' -You need something? We have what you need! of course, the Oreo Super Bowl Dunking In the Dark tweet comes to mind as leading the charge for real time marketing. It capitalized on the power outage to connect with millions of potential customers and followers. RTM is going one step further today to leverage data to personalize messaging based on past current and future behavior. Propensity models are the foundation of effective RTM activities. 

3. Greater utilization of content: Marketers often complain that much of the content they create goes unused. However, the always on strategy has dramatically increased the need for content. What's more, the personalization required by today's high expectation customer, the increasing evidence of 'binge' consumption of a brand's content will likely drive a greater incidence of content utilization.

4. Build loyalty/customer relationships-A leading global hotelier is using real-time marketing to enhance loyalty and increase the amount of money spent during each hotel visit. A major financial institution is using event-triggered transactional and real-time communications to increase product penetration and turn customer behaviors into profitable product investments(see IBM article: http://ow.ly/3y194w).

The term 'marketing campaign' is in danger of moving to the trash heep much in the same way the term 'digital marketing' is going to simply be referred to as 'marketing.' Real time marketing is addressing many of the concerns organizations have traditionally wrestled with over the years and is equipping marketers to successfully compete on the new customer interaction playing field. Have you deployed a real time marketing initiative? Do you see it as a new business model? Please weigh-in!

Dan Sixsmith is a VP at Alinean, Inc.

He is Partner/CMO @ Augmento and Chief Content Officer at "The Digital Advantage by Dan Sixsmith."

Dan also co hosts the weekly Podcast, This Week In Digital Marketing subscribe here: http://t.co/H6wqFueAB2 

Twitter:@DigitalAdvantg

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