Data usage is continually growing and companies are using analytics to evaluate their business operations and market spending.
Predictive analytics can provide marketers with the tools necessary to anticipate what consumers desire and adapt their marketing messages and offerings on an individual basis. This tool is making decisions and taking action for customers instead of empowering them.
The competition between brick and mortar retailers and online retailers is well known. Online retailers such as Amazon and Zappos.com are able to offer consumers convenience, personalization, and in many cases lower costs. One of […]
Marketers have been, and always will be, interested in gaining a better understanding of consumers. Being able to communicate with those consumers who are most likely to find value in a specific product/service and doing […]
(Image of the Apple Passbook with some examples of the types of items that can be stored within it, including credit and debit card data) It can be increasingly difficult for organizations to compete for […]
The video game industry used to be relatively straightforward in terms of how its products were monetized. Either consumers purchased a game and owned it outright and everything that could be done within it was […]
(Digital Spy, 2013) We love this time of year. The curtain will rise on the film industry’s biggest night this coming Sunday and that means some excellent reporting and number-crunching hitting the wires, with two […]
$19 Billion. It is not a bad day to be a stakeholder in the mobile messaging company started by Jan Koum and Brian Acton in 2009. Facebook’s purchase of the CA-based start-up is a clear […]
Everyone is buzzing about the upcoming Twitter IPO. When the company begins trading on the public exchange later this month, what will happen? Will it stumble out of the gate, echoing the challenges other social media platforms have faced? Or will it soar? Will it fail to meet, match, or exceed investor expectations?
All of this is great chatter for the talking heads on cable news. Even the casual consumer will be drawn in by the rapturous tale these pundits will weave, regardless of the outcome.
But beyond the headlines, beyond the “big numbers,” there is a real debate going on – one that has serious consequences for marketing managers at every major company. Does real, sustainable potential in this new wave of social media marketing exist?
More specifically – what does real-time marketing do for a company’s bottom line?
Noted author and marketing strategist David Meerman Scott, in his book, “Real-Time Marketing and PR” defines this concept in this way:
“… products or services instantly, based on feedback from customers or events in the marketplace. And it’s when businesses see an opportunity and are the first to act on it.”
Many of us remember the now infamous and timely Twitter post from Oreo that capitalized on this past February’s Super Bowl during the unexpected blackout.
It was a watershed moment for the company and for proponents of real-time marketing – the sheer interactions and touch points generated brought Oreo unparalleled exposure and viral connectivity.
And let’s face it – it was cool.
During the Emmys this year, AARP of all companies capitalized on a mention by winner Jeff Daniels during his acceptance speech:
Daniels: “”The last thing I won was a few years ago for ‘The Squid and the Whale.’ I won best actor over 50 from the AARP. With all due respect to the AARP, this is better.”
But again – does this exposure translate to the bottom line? Does this type of social marketing reach new customers or simply get batted around by current ones?
While marketing managers may be able to save money by capitalizing on these viral memes and hot buttons, the investment of time and energy to consistently stay abreast of the ever-changing social media landscape presents a whole bevy of new challenges.
This article from “AdWeek” crunches some more real-time marketing numbers. What do you think? Is the investment paying off? What would you do as the CMO of your company?