Want to watch a movie? Connect with your friends halfway around the world? Have groceries delivered to your home today? Today, all of these things are possible with a few taps on our devices. We live in the world where “instant gratification” is valued. As consumers we want it, expect it, and are willing to pay for it. As marketing professionals, we seek to meet our customers’ higher demands, while better understanding them. We want to react quickly to meet their needs – before our competitors. And this is where real-time marketing comes in.
Real-time marketing is marketing performed on-the-fly. A customer or market event creates an anticipated opportunity. If marketers respond to that opportunity in a short timeframe, it can result in very strong results.
In the video segment below, Don Peppers, from Peppers & Rogers, and David Cooperstein, from Forrester, discuss the importance of real-time marketing and share their perspectives on why it represents the future of marketing.
Take a customer-centric perspective on time-to-business
Do your internal processes or procedures dictate how fast business can be achieved in your organization? In the video, Don challenges organizations to think how customers’ demands should drive the time to doing business. He predicts that successful companies will practice agile, real-time marketing.
Collaborate, anticipate, and act fast
David discusses how good real-time marketing actually takes time. Organizations must plan, collaborate, and anticipate the market and the customer opportunities they will want to act on. He discusses the now-famous example of the 2013 SuperBowl game. The lights went out in a blackout, and the Oreo marketing team reacted on the spot with a “You can still dunk in the dark” viral campaign that became a huge success.
Organizations that are agile and fast will have a huge advantage in the marketplace. Having the ability to quickly react to changing market dynamics and trends will ensure relevancy. Being first to market gives you first mover advantage in capturing market share. And being the first to anticipate and meet the needs of your customers even before they know those needs equates to a winning marketing strategy. Hope you enjoy the video.
Bernard Chung is Senior Director Product Marketing at SAP. Follow Bernard on Twitter.
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