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INTRODUCTION
Here's introducing you to the marketing industry's latest infatuation: Real Time Marketing. Real Time Marketing is defined as 'on the fly' engagement by the Brand to push it's Brand name, product or service unobtrusively into conversations centered around events happening in real time. It is implemented mostly through social media and in the digital space. It is a newer, unconventional method of marketing as compared to conventional, pre-planned marketing strategies which may have been thought out and developed earlier whereas Real time Marketing strategies have to be developed and executed instantly, as public memory, conversations and focus is extremely short and may shift instantly from one relevant story to another. The challenge lies in connecting the Brand to these stories and bringing the Brand into these everyday conversations buzzing around the world.
Example of Real Time Marketing:
'Oreo wins the SuperBowl' screamed the papers the next day. And all because of one witty tweet from the world's most loved cookie brand. And with more than 10,000 Retweets and around 15000 new followers gained within an hour of it's bold, smartass tweet, it surely won the night out and out.
Oreo @ SUPERBOWL
The Superbowl is the annual Championship game of the National Football league (NFL), the highest level of professional American football and one of the most viewed sporting events in the world by sheer volume.
Experts reckoned this single tweet had had more impact than Oreo's expensively shot advertisement for the Superbowl. What happened you ask? Well, the power went out during the Superbowl game between the Francisco 49ers and the Baltimore Ravens. Oreo, crowned the unofficial king of Real Time Marketing sensed an opportunity and tweeted this during the unfortunate power-out hiatus.
The most impactful Brand exercise during one of the biggest events in the American sporting Calendar wasn't even an ultra-expensive celebrity commercial, as has been the trend in recent years, but a mere tweet from an opportunistic Brand, which conceptualised and executed it's super-witty graphic within minutes!
Audi & SUPERBOWL POWEROUT
Even Audi tried to do an 'Oreo' at the expense of rival Mercedes during the powerout at the Superbowl .
* @MBUSA is the official Twitter handle of Mercedes Benz and the unfortunate power outage happened at the Mercedes Superdome (Mercedes had bought the naming rights for the stadium).
Scope:
IBM surveyed the world's top 500 Brands and found out that around 85% of these companies had integrated real-time marketing into their core marketing strategies. Companies were using Data and analytics in a big way to develop and design customer-relevant responsive ads and offers in real time. It was found that customers are able to connect on a more emotional level with Brands which engage in communications based on real time events and news. Consumers could relate to the Brand message better and felt a 'sense of belonging' with the Brand which engaged in Real-Time conversations with consumers. Experts reckon real-time marketing communications have a bigger short term impact, significantly higher than those of pre-planned strategies as the brand comes across as spontaneous, natural and creative in the moment. It also creates a more positive long term image for the Brand, as one which is alive and kicking, and truly living in the present alongside the end consumers.
Real Time Marketing
PARADIGM Nourishing the Intellect