Are you using the marketing strategy that 98% of users report a positive revenue impact from? Not only do marketers report a positive revenue impact from real-time marketing, 89% also report that they can tie their real-time marketing efforts to overall business goals. As a result, 59% plan on increasing their budget in the next year. And while real-time marketing is a strategy embraced by larger companies, this is a great strategy for local business owners to employ as a part of their overall marketing strategy.
A 2015 report by Wayin, Making Real-Time Moments Matter , provides a first-of-its-kind research about real-time marketing aimed at providing the marketers with a quantitative baseline for a real-time marketingstrategy by looking at the execution and trends currently being practiced by larger brands. Below are some of the key takeaways from this report.
WHAT IS REAL-TIME MARKETING
Real-time marketing creates a marketing strategy based on current and relevant trends and immediate feedback from customers instead of developing a long-term marketing plan in advance that is executed according to a fixed schedule. Real-time marketing requires businesses to stay abreast of real-time trends and then be agile and creative on the spot by creating content that speaks to those trends. While planned marketing campaigns should remain part of your overall marketing strategy, real-time marketing should also play a role as it one of the most effective marketing tactics today.
Most marketers agree that real-time marketing utilizes a mix of digital marketing and social media content development in response to audience behaviors as quickly as possible but a precise definition of this term still varies.
- 49% said real-time marketing is the ability to respond within minutes to an event
- 26% said it is the ability to respond within seconds
- 8% said it is the ability to respond within days
Overall, most marketers agree that real-time marketing needs to have a more immediate response, within seconds or minutes, yet 46% of marketers require 30 minutes or more to respond to relevant breaking news on social media.
REAL-TIME MARKETING CHALLENGES
Even though marketers agree that response needs to be immediate many still face challenges to achieve this goal. The primary challenges marketers face are budgetary and resource restraints followed by slow staff response, lack of search and analytics tools and lack of knowledge and resources.
Besides the need to overcome these challenges, tools such as social media monitoring tools are also needed to have an effective real-time marketingstrategy. The following tools were cited as the most essential for an effective strategy:
- 52% cited social media monitoring tools
- 50% cited social media analytics tools
REAL-TIME MARKETING TACTICS AND MOTIVATION
Most marketers currently using real-time marketing are embracing an integrated mix of tactics across digital and social media channels to execute their plan.
- 62% are using marketing automation tactics such as triggered emaisl
- 58% respond to trending news and events on social media
- 58% engage with fans and followers on social media
- 57% personalized their digital content based on interactions
- 54% focus on creating timely content like blogs
- 37% utilize location-based deals through emails and app
Despite the wide range of real-time marketing techniques that marketers can use, 40% of real-time marketers still do not respond timely to trends and breaking news on social media and 50% are unable to create timely content like blogs.
Even though almost half are not able to respond as timely as they would like, 56% of respondents say they are employing real-time marketing to form better customer relationships. And over 50% are doing it to promote events or as part of their content strategy. Not to mention that a full 98% of the respondents said that they are seeing a positive revenue impact from their real-time marketing efforts.
Because of the positive impact real-time marketing is having on the bottom-line for businesses it’s clear that this marketing tactic is not a passing fad or trend. It’s a growing practice that marketers are prioritizing within their overall strategy. And while it’s mostly larger companies that are currently embracing this strategy, it presents a great opportunity for local business owners like medical and dental practices.
By staying abreast of local news and events, you can customize your content and social media posts to focus on what is going on in your local community which will ultimately drive more awareness for your business and engagement from your social media channels.
About Alan Moore: Alan started his career in 1999 as a Marketing Consultant and is the owner of www.ExtraPatients.com. Over the years, he has migrated his focus of expertise to everything digital. His mission is to help you increase your revenues and decrease unproductive advertising expenses through proven, online marketing strategies. He manages over $4,200,000 in yearly marketing budgets and has worked with local businesses, agencies and the US government. Give him a call to schedule a Free Online Marketing Consultation for your practice.
To read more of the article that inspired this blog, please visit:http://www.marketingprofs.com/charts/2015/27862/the-real-time-marketing-landscape