Real-time marketing ‘can boost conversion rates’

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Companies that take advantage of real-time marketing (RTM) opportunities can see their conversion rates soar, according to a new report from Monetate and Econsultancy that took in the opinion of some 900 respondents across the globe.

Some 84 per cent of company respondents and 82 per cent of agency respondents consider RTM to provide a better customer experience.

However, only 47 per cent and 46 per cent respectively are seeking improved retention by using RTM, suggesting some challenges are facing businesses who want to adopt this kind of technology.

Responsive marketing techniques can also have an impact on brand perception, it was claimed, with 34 per cent of companies citing this as a factor in their efforts to implement RTM policies.

A major factor in this shift has been the widespread adoption of mobile devices; as more consumers use smartphones and tablets when out and about. This is creating a huge amount of data for marketers to utilise, as long as they have the correct technology in place to take advantage of it.

Variables such as weather, transactional data and content viewed can help leverage marketing action and ensure businesses know how their customers are acting.

John Healy, chief operating officer at Monetate, said: “Thanks to the mobile revolution, the amount of data now available to businesses has increased exponentially, and what we have previously known as ‘real-time marketing’ is rapidly evolving beyond social to include the full range of channels available to digital marketers.”

At its best, RTM can surprise or delight customers, helping build up brand loyalty and making people generate positive associations with a particular company or service.

However, companies need to be careful to avoid the kind of nuisance factor that can come by contacting consumers too regularly or carrying out their marketing in an invasive way.

Utilising CRM processes can ensure businesses keep track of their data and take advantage of RTM techniques, while integrating the approach throughout the whole company.

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