REAL TIME MARKETING: A NEW DIGITAL ENGINE

What is this new tool companies are using to optimize customer relationship and complement their e-commerce strategy?

RTM, which stands for Real Time Marketing, is a new concept of marketing based on customer’s behaviour and actions on their website in order to provide better services and push more pertinent advertisement in real time. Clearly, it consist in using all the data regarding the actions of the customers of the website, to immediately send triggered emails, to entertain a discussion through social medias, to promote live events and even propose location based deals according to the customer’s location.

By undertaking these different activities in real time, companies have different goals:

When successfully done, RTM can make people interact with your company of social media, by liking, sharing or retweeting: so by focusing on technology and improving the customer relationship and engagement, you then can collect huge amount of data about customer behaviour to push him the right product/service, at the right time and at the good price.

“RTM enables companies to a 16% lift in customer sentiment, a increase of 14% in purchase intent and 18% in interest (…) LeadSift’s data reveals that consumers are 22% more likely to consider a brand as a result of real-time marketing.”

With all these benefits listed, why not all brand and company are developing an efficient real-time marketing strategy?

Today, many companies are limited in the use of real-time marketing, for those main reasons: Limited budget and resources, staff can’t respond quickly enough, lack of search analytics tools, lack of real-time data and knowledge.

Real-time marketing is very efficient tool, with impressive results, when of course it can be afforded. For the moment only prestigious brands and important companies are able to develop a profitable RTM strategy.

http://digitalmarketingmagazine.co.uk/articles/the-increasing-importance-of-real-time-marketing

http://www.ngdata.com/what-is-real-time-marketing/

We can all learn something from Norwegian's digital advertising

NY Daily News 

Recently, Norwegian Airlines caught our attention with a clever advertisement for flights to Los Angeles. The ad, as you can see on the right, states ‘Brad is single. Los Angeles. From/one way, incl. taxes £169’. A nice example of newsjacking, related to the recently announced breakup of the famous Hollywood couple, Brangelina. This promotional campaign was originally put into newspapers and Norwegian's website but soon went viral due to people taking pictures of it and posting it on Instagram, Facebook and Twitter. This almost convinced us to go hunting for our future husband in LA. Unfortunately, classes are mandatory and thus, we have to be satisfied with digging a bit deeper into Norwegian Airlines’ previous, and at least as inventive, marketing campaigns.

That’s where the Red Cab popped up. At the end of 2014, the airline company offered an interactive way to discover New York from a shopping mall in Oslo. People were attracted by a digital screen that allowed them to communicate directly with a New York cab driver. The latter gave a guided city tour, with a 360° camera on top of the car. The passengers could decide where they wanted to go by touching and swiping on the screen, while the driver gave them interesting information about the city that never sleeps. The aim of this campaign was to inform people about the airline’s long haul destinations, such as New York. The whole video can be watched below.

We realize, as touch screens are getting more and more intertwined in our lives, they are also becoming a new, important, channel for digital marketeers. Lizz Morell of MarketingTech supports our opinion with scientific arguments, saying that interactive ad displays are better at engaging people than static equivalents. She states that emotional responses and the recognition of words are way higher for interactive ads. In the video of Norwegian Airlines' campaign, we can see this being put into practice. People are enjoying the digital car ride and will definitely remember it. Even if they won’t fly with this airline, we believe they will still associate it with a positive experience. Furthermore, we think it’s a creative way to create brand awareness and is more memorable than seeing a Norwegian Airlines advertisement of visiting New York on television.
Thus, according to us, the medium can make a humongous difference in the promotion of a campaign. Currently, we’re being overwhelmed with advertisements from all kinds of sources. In order to still attract people’s attention, marketeers either have to be really funny, appeal to people’s emotional side or use an inventive way to make a connection. In our opinion, the first and the last aspect are certainly present in this Red Cab campaign.

This particular campaign can be costly for the limited number of people that actually interacts with the screen. However, the number of people reached through sharing the video on the internet, is tremendous. A clever combination of digital and viral marketing. As we have seen in their previous advertisements, Norwegian Airlines succeeds well at getting their marketing to go viral. They convinced us to like them on Facebook so we definitely don’t miss out on their next well thought marketing campaign. Especially, if we could bump into a screen that is able to drive us to Brad Pitt’s house, we would surely get in line to take a ride.
Buckle your seatbelts and enjoy Norwegian’s digital flight!
Valerie Eeckhout & Jana De Lobel



Source article Red Cab: http://clearchannelinternational.com/news/norwegian-takes-norway-on-a-memorable-joyride-in-nyc
Source article Lizz Morell: http://www.marketingtechnews.net/news/2015/may/27/its-clear-interactive-ad-displays-are-more-engaging-static-equivalents/
Source image: http://www.nydailynews.com/life-style/norwegian-airlines-brad-pitt-ad-article-1.2803286
Source video Red Cab: https://www.youtube.com/watch?v=3xPsfYMAdps

Programmatic Ad buying - The Next Big Thing!

Programmatic or automated ad buying typically refers to the use of software/machines to buy digital advertising, as opposed to the traditional process that involves RFPs, human negotiations and manual insertion orders. It is growing not only because it makes ad transactions more efficient but because if the right data is applied, it can make them more effective.

How it works?

Source: http://www.businessinsider.com/mobile-real-time-bidding-ad-ecosystem-2013-5?IR=T

Basically multiple firms engage in real-time bidding for display ad space on a webpage. The information about the availability of ad-space on a webpage is passed onto an ad-exchange. An ad exchange is a platform that auctions off the available ad space to the highest bidder. The highest bidder gets to have his page displayed when the page loads.

A Supply-Side Platform (SSP) is a software system that allows web publishers to sell and manage ad inventory in an automated manner. SSPs connect with multiple ad networks and DSPs at once providing access to a large number of potential ad buyers.

Advertisers typically use demand-side platforms (DSPs), a fully automated software, to select which ad space to purchase. This eliminates to an extent the need for sales personnel and time spent negotiating, insertion orders etc. making the process highly efficient.

A video explaining the process

It is all about Data!

Data regarding which geographies to target, time of day, audience segments etc; is all fed into the DSPs so that ads are extremely effective in targeting.

Everyone is jumping on the bandwagon!

Recently, Dannon entered into a one year contract with video vendor TubeMogul to focus on ad targeting while also automating a portion of its buying. One of the first outputs of the deal was a campaign for Activia, a line of yogurt that helps with digestion, that was rolled out to a very narrow segment of people based on their age and gender.

Sources

• http://www.emarketer.com/Article/US-Programmatic-Ad-Spend-Tops-10-Billion-This-Year-Double-by-2016/1011312
• https://hbr.org/2015/06/is-programmatic-advertising-the-future-of-marketing
• http://adage.com/article/print-edition/10-things-programmatic-buying/298811/
• http://www.adweek.com/news/technology/why-dannon-betting-big-programmatic-video-167802
• http://www.adweek.com/news/technology/small-or-large-brands-are-betting-big-programmatic-ads-holiday-season-167751

Article by:

Ankita Verma

Shikhar Nigam