Skip to main content

Side Click: Tapping into real-time reactions from consumers

Consumers today are spoilt for choice. To win them over, brands need to deliver real-time customized experiences. New technologies and techniques are allowing them to do just that.

Consumers today are extremely brand savvy. With access to various media platforms to conduct research, compare prices and ultimately purchase products, consumers favour brands that deliver experiences that suit their needs in the present moment. Consumers have begun to recalibrate what is expected from their media, stores and brands – demanding real-time personalized information every step of the way.

What is real-time marketing?
Real time marketing is defined as using apt communication tools to provide a more profound yet personalized consumer experience and information – at the right time and place – so as to address a consumer’s needs with accuracy. This is a component of Present Tense Marketing, which concentrates on ways of understanding consumers’ current situation for a personalized experience.

Real-time marketing – Time is of the essence
The key platform for brands to respond to consumers in real-time is through social media. A UK study conducted in February 2014 concluded that real-time marketing via social media engagements resulted in increased audience engagement for 76% of the respondents.

However, other platforms, such as SMS marketing, mobile data outreach and customized in-store screen ads, should not be discounted.

How does real-time marketing work in practice?
Oreo tweeted about the birth of the royal baby in 2013, attracting 6 million followers! Real time marketing in conjunction with major global events such as the Grammy Awards and the recent 2014 FIFA World Cup are very much in vogue.

Getting the most out of real-time Marketing
What factors should marketers keep in mind when reaching out to consumers?
  • Understand your customer
This requires detailed research in areas like demographics, purchase history, consumer service requests, as well as browsing and cross-channel engagement data, to help identify product and brand affinities.
  • Collect real-time data
It is key to collect data pertaining to what consumers do in real-time, their location and level of engagement rate with a brand. Nowadays, mobile applications help track real-time browsing activities, shopping cart activities, keyword searches, social media engagement, interaction with call centers, reviews, and so forth to derive crucial data.
  • Offer a unique experience
Calculating the optimal consumer experience requires the consumer’s current profile to be combined with real-time interaction data (the what, where and how of consumer’s engagement with brand) to help ascertain expectations.

Labels:

Comments

Post a Comment

Popular posts from this blog

A room-sized 3D printer?

Torbjørn Ludvigsen is a Swedish inventor whose company – Replicating Rapid Prototyper (RepRap) – is busy raising funds to develop the Hangprinter. This suspended 3D printer uses the walls and ceiling of a room as its “frame” and can be used to print furniture-sized objects in an entire room. While cable-driven 3D printers already exist, this 3D printer is different. It uses a frameless 3-D printing system which is cheaper to assemble – a mere USD250. It uses an entire house as a 3D printer frame and all parts of the suspended 3D printer are mounted on a single moving unit. The self-replicating machine is designed to manufacture a large fraction of its own parts. Will RepRap revolutionize the construction of low-cost buildings for developing nations? https://www.spireresearch.com/newsroom/spirethoughts/a-room-size-3d-printer/
Post a Comment
Read more

Express Pharma Magazine 16th to 30th November 2013 National

API manufacturers need to relook business processes to operate more efficiently                                                                                                                                                                                  
Post a Comment
Read more

The Earthquake in Nepal jolts the economy

Nepal – one of the poorest countries in the world – had a rude awakening when a 7.8 magnitude earthquake struck on 25 April 2015. The impact was tragic. Casualties continue to rise, with immense damage to infrastructure. Will the nation be able to pick up the shattered pieces of its economy? Leon Perera, Chief Executive Officer of Spire Research and Consulting shared his insights in China Daily – Asia Weekly. With the estimated cost of rehabilitation set to hit USD5 billion – a quarter of the nation’s Gross Domestic Product (GDP) of USD20 billion in 2014 – the economic impact of the earthquake is massive. According to United Nation’s data, 8 million people are directly in the line of fire. Both agriculture – with well over 70% of the population employed in this sector – and tourism have been badly afflicted. Perera opined that the disaster will also impact the nation’s ability to grow and transport fresh food – the agricultural sector alone accounts for 38% of GDP. Moreover, ...
Post a Comment
Read more

Harnessing social innovation for Malaysia’s progress

The Social Impact Innovation Challenge by Berbudi Berganda – driven by Agensi Inovasi Malaysia (National Innovation Agency) – brought together individuals across Malaysia to scout for innovative solutions for Malaysia’s social development. Carried out over a period of 10 weeks, 12 finalists were shortlisted out of 300 entries using selection criteria that spanned three parameters – innovation, cost-effectiveness and sustainability. Yap Far Loon, Business Development Director, Telecommunication of Spire Research and Consulting, was among the Challenge panelists interviewed on BFM 89.9 (The Business Radio Station) for the Live and Learn show. He shared his views on how to measure impact of social innovation. This Social Impact Innovation Challenge strives to turn innovative ideas into realities. To explain the impact of social innovation, Far Loon uses a simple demand-supply model. Supply here refers to the finalists. Demand refers to the beneficiaries, such as people with low-inco...
Post a Comment
Read more

E-tailing set to grow in India

India’s e-commerce industry has recorded massive growth during the last five years. The factors contributing to this growth include increasing number of internet users, growing acceptability of online payments, availability of a cash on delivery option and favourable demographics. Will India’s e-commerce industry continue its growth trajectory? Spire Research and Consulting conducted a research study on India’s e-tailing industry among 300 Indian retailors in the apparel, consumer electronics and food sectors. The findings of the study were further published on Asahi Shimbun’s Japanese website. According to research findings, 91% of Indian companies in the apparel, consumer electronics and food sectors offer online shopping solutions to customers. The overwhelming take-up can be attributed to the introduction of online payment systems and developments in logistics infrastructure. Over 54% of the online businesses reported a growth of more than 20% in sales revenue post increasi...
Post a Comment
Read more