Guest Post by Joe Cordo
I just came from DMA: 2011, and this year’s theme was Real-Time Marketing. Of course, there can be no real-time marketing without capturing data in real-time. The whole “real-time” thing is increasingly important, and it just might yet make social media truly relevant to how marketers move from driving engagement to actually producing revenue through this channel.
However, what I heard most from marketers at the show was the very notion of just making the data they have work for them, whether it was captured in real-time or not. Many marketers are still struggling with the fundamentals of driving revenue performance and applying the growth of their data to driving buying behavior throughout the customer life cycle.
To many, real-time marketing is the optimal way to drive 1:1 customer interaction throughout the customer life cycle and optimize revenue performance. But real-time is highly complex, costly, and its transactional nature is not directly applicable to many industries, products, and services.
Marketers need to evolve toward their real-time goals by first dealing with the fundamental data issues they have today. One way to do so is to evolve toward embracing driving revenue performance at the right time in the customer life cycle using multi-channel marketing.
Right time multi-channel marketing focuses on the aggregation of customer behavior over time, and takes a very deep, analytical approach to customer interactions, based on behaviors and a multitude of market dynamics. The customer intelligence derived from these interactions guides an optimized revenue strategy that focuses on markets, accounts, and buyers to spur specific buying behavior throughout the customer life cycle (Full disclosure: Our white papers at Extraprise provide some great guidance on right time multi-channel marketing).
Instead of looking at data as a massive avalanche, and hearing the rumble in real time, marketers are better able to leverage the data they have at the right time, and continue to accumulate, by driving a data strategy that is applied to the customer life cycle, marketing channels and their use of customer intelligence. Taking this approach moves marketing along a continuum that drives more highly qualified leads, nurtures opportunities into real sales faster, and ultimately creates customer retention that increases the top and bottom lines.
What’s the real definition of real time? It’s the old adage, there’s no time like the present to get started right now to make your marketing more effective. Just do it based on the right time.
Joe Cordo is CMO at Extraprise, the leader in right time revenue optimization services. For more information about Extraprise you can contact visit www.extraprise.com, or contact Joe directly at firstname.lastname@example.org.