Back in ’97 a friend gave me a book that changed the way I looked at customer relationships…
it was a copy of ‘Real Time – Preparing for the Age of the Never Satisfied Customer’ by Regis McKenna.
‘a provocative book on doing business in a real time world, one in which time and distance vanish, action and response are simultaneous, and customers demand instant gratification…or else. Technology is continually transforming our existence in profound ways; and the pace of change is speeding up, not slowing down: we get cash in seconds at ATMs, we watch wars unfold instantaneously on live television.’
Almost all technology today compresses to zero the time needed to acquire and use information, to make decisions and initiate actions, to deploy resources and innovate. What does all this mean to the creators and managers who want to lead their organizations successfully in the real time world? Above all, says McKenna;
“management must be prepared for the eventuality of anything-anytime, anywhere, and in-your-face.”
That was ’97 – it’s been fascinating to watch how the market and technology have responded to the need of engaging customers in real time.
Today you need to manage your activities across email, mobile, social channels and your web properties, capture real time analytics and integrate with your CRM database.
Real Time Monitoring
More than two-thirds (70 per cent) of Australian businesses are using a social media platform to deliver customer service, according to a study by consultancy and research firm, Fifth Quadrant. The highest user of social media for customer service is Generation Y, which accounted for 46 per cent of all social media customer service queries within the last three months. Following close was Generation X, at 39 per cent; Baby Boomers, at 24 per cent; and the Silent Generation (those born between 1925 and 1942) at 16 per cent.
It’s not just Customer Service, with advanced social intelligence, organisations can accurately personify customers and map their journey. Leading corporations are adopting this methodology to drive their product innovation, packaging, messaging, promotions, positioning, placement and ultimately their bottom line by delivering what the consumer wants based on their own requests, interests, activities and attitudes.
Marketing Automation systems replace all the separate systems you have for email, web visitor tracking, lead scoring, nurture campaigns, campaign management, reporting and other core components with one solution that aims to drive revenue, generate higher quality leads, increase marketing efficiency, align sales and marketing and quantify marketing’s performance.
The best marketing automation systems provide information across all phases of the marketing process which then trigger actual automated marketing events, such as drip feed emails within an email marketing campaign.
- Demand generation
- Lead management
- Lead scoring
- Lead nurturing
- Lead generation
- Campaign analysis
- Lead qualification
- Sales effectiveness
Real Time Analytics
Analytics can be used in real time to test, segment audiences and review campaign performance.
Google launched real time in 2011 and has recently updated to see your conversions in real time.
Social Media Management
If you are active in the social media space you need tools to respond in real time as well as to run integrated campaigns across your social channels and your websites.
Data is the foundation of it all and the need to collect from multiple sources, integrate it into your CRM and segment critical attributes and behaviours in real time is imperative.
Cloud Based & Device Friendly
And whatever we do it needs to be accessible anywhere,anytime and on any device…
We’ve come a long way since 1997…
there’s been an explosion of technologies and vendors that enable us to connect with customers in real time.
Real time marketing technologies don’t necessarily translate to satisfied customers – it’s still depends on how we engage with our customers and nurture those relationships to build trust.