What is Real-Time Marketing (RMT)?
Real-Time marketing is the process of engaging your customers, followers, or fans immediately based on real-time information. Real-time marketing works by changing your actions, behavior as well as marketing strategies based on real-time events that are taking place. It works by making use of ongoing marketing as well as online trends for a better portrayal of your business. Real-time marketing gained popularity with the advent of social media. Because with the rise of social media, it became quite easy for marketers to engage their audiences. Real time marketing is all about creativity and spontaneity; if your marketers are creative and spontaneous, you can ace RTM. However, what does real-time mean? Real-time or real-time marketing is all about marketing current events that are viral all over the internet. For instance, after the birth of the Royal baby, all the advertisement agencies went bizarre, creating adds showcasing mother-child pure love. These types of advertisements sum up the marketing definition of RTM.
* What is Time to Market?
If you start to search for what is real-time? Alternatively, put what is real-time marketing, you’ll begin wondering that what is time definition? Time in marketing isn’t like the normal time which we talk about. Instead, it’s a term used to show the time duration of the completion of a product. Time to market is a term that describes the time duration from the idea of creation to the creation of the product. Companies use time-to-market as a tool for evaluating how well their products handle the competition. In marketing definition, time defines by the total duration in which the product gets completed and supplied to the market. The time to market is an essential aspect of the success of any product. It is particularly important to meet your time-to-market because if you’re late to launch the market trend may change. For a marketer to successfully exhibit their product, the time of marketing is crucial. This is because the markets are volatile, and the trends seem to change pretty fast. Therefore, introducing the product at the right time is the key to success.
* What is Real Time?
The real-time in terms of marketing is the ongoing marketing trend based on the current real-time scenarios. In recent years, a new strategy is in use by marketers, i.e., to create real-time shareable content rather than the traditional ones. Using the real-time marketing technique, marketers tend to create unique content-based publicity or promotion for their brands. The content can be on anything like a trending story, current events, or some hot news. Real-time marketing works as effectively as the celebrity endorsement technique does. However, real-time marketing is usually humorous and light-hearted, just like this Oreo tweet. During the power cut in 2013, Oreo came up with this trick and won the best marketing award.
* Types of Real Time Marketing:
As you know by now that real-time marketing depends on the currently ongoing event; therefore, it can be roughly divided into the following models:
* Real-time Marketing During the Holidays:
Holidays are the perfect occasion to catch the eyes of your consumers; that’s why the majority of brands target holidays for publicity. But standing out in all this crowd is what differentiates an outstanding RMT from a normal one. For instance, the renown home improvement store Lowe’s released a video on their official Twitter account on the occasion of 4th of July.
* Lowe’s Happy 4th of July:
The marketing team at Lowe’s effectively created fireworks using the tools which they sell. You can also use other occasions like Christmas, National days, birthdays, etc. special days like Halloween, St. Peters day to create unique RMTs.
* Real Time Marketing During the TV Events:
Another great time to do real-time marketing is during most awaited TV events like Oscars and Grammy’s. This is because a vast majority of your targeted audience will be watching those events. If you can create some funny or funky meme about your brand, then it will rock the internet. For instance, this animated pic of lady Gaga walking the red-carpet during MTV awards by Beats made it amusing.
* Real Time Marketing Using Celebrities:
If you are wanting to do Real time marketing using celebrities. Then your marketers can research about the heartthrob celebrities of their targeted audience. For instance, if the product is shaving cream, then a picture of a freshly shaved Tom Cruise with the product will do the trick. Generally, female actresses act in the promotions of feminine beauty care products. This vintage advertisement of LUX beauty soup is a perfect example of the celebrity effect on common masses. Whenever celebrities give the impression that they use a particular product, their fans tend to buy that specific product. Hence, marketers pay special heed to the trending stars among their targeted audience.
* Real Time Marketing Using Politics:
In 2013 following the Supreme Court overturned DOMA. The #gaymarriage hashtag started trending. Almost all of the brands used it to promote their products. However, Grey Poupon, a cereal company, did the most creative job when they used their original ‘Pardon me’ ad from the ’80s and posted it on Facebook. The caption was ‘Spread good taste,’ and you can see two men shaking hands from adjacent Rolls Royce.
* Real Time Marketing Using Jokes/Rapid Fire:
You can also do Real-time Marketing, using the rivalries between brands and create jokes about it. One such example is the rapid-fire tweets between Old Spice and Taco Bell. The marketing team of Belize Tourism Board played brilliantly when during an episode of Breaking Bad they used ‘a trip to Belize’ as a bad place. However, instead of taking the comment negatively as it was in the show, they invited the cast of Breaking Bad for free vacations in Belize.
* Benefits of Using Real-Time Marketing:
There are numerous benefits of using RTM for your business. Firstly, in this rapidly growing world of technology, the way you market your products needs upgrading. Real-time marketing is an instant solution to this problem because it lets you connect with your consumer. With the increasing role of social media apps in our everyday life, marketing is also becoming advance. With real time marketing techniques, you can stay updated on the latest ongoing trends and design your promotions accordingly. Real media marketing is the way which connects the consumers directly with the producers. Therefore, if you want to give a boost to your business, we suggest that you should consider switching to real-time marketing.