Over the past several months, my consulting team at Pinpoint has faced repeated questions on the effectiveness of real-time marketing (RTM).
- How much money should you spend on your inbound programs vs. outbound marketing?
- How can you justify the ROI for your real-time marketing technology?
To answer these questions, Pinpoint consultants looked at specific examples from client engagements and came up with some solid metrics to quantify the effectiveness of real-time marketing. We developed a short presentation to show the value of RTM. Read the results on our Resource Center.
RTM Should Feel More Like Good Customer Service than Marketing
RTM is being used by businesses in many industries and is rapidly moving into the mainstream as each and every interactive customer touch point is a real-time marketing opportunity. But, before you can yield the monetary benefits from your RTM system, it’s important your system is enabled with capabilities for real-time marketing personalization and real-time offer decisioning. Below are some suggestions to ensure a successful RTM implementation.
Top 5 Things to Consider when Implementing RTM
- Plan and architect for all channels, but implement first one channel and expand incrementally to learn as you go. Nearly every interactive customer touch point is a real-time marketing opportunity to drive incremental revenue on any channel
- Adjust your business processes to take advantage of available real-time measurement data
- Align your offers/messages with your strategy and marketing objectives.Start with simple decision rules and progress to sophisticated models.
- Use both current behavior and past behavior for the most effective combination in the decision process about the customer communication.
- Implement rapidly with an incremental approach.Your RTM solutions can be implemented relatively quickly and it doesn’t have to be a multi-million dollar project.
- Pinpoint implemented a real time marketing solution for the in-store point of sale channel for a major retailer, from concept to roll-out, in 12 weeks.