Real Time Marketing – Keeping the the store open 24/7

Did you know that it has been 3 years since the first iPad was released, the iPad 1 is now obsolete. Owning a smartphone, tablet, laptop is now the new norm and its usage is changing consumer buying behaviour. One of these changes, that magazine publishers will have to adapt to, is called ” Showrooming” a practice where somebody goes to the store to see the product, but buy it online for a lower price.

In a report by digital media strategy company GroupM Next and search marketing firm Catalyst, It found that 26% of Canadian shoppers who use mobile devices to compare prices while shopping in bricks-and-mortar locations would leave the store and complete their purchase online for as little as a 2.5% discount.

This example will demonstrate how things are changing in another way. Here is how my neighbour fixed his car. He is a middle aged with a wife and two kids. He talked with a mechanic friend to help with the diagnostic. He then went to Youtube to see a demonstration video on how to fix it . He then went online and did a Google search for the product and then bought it online from a USA vendor for a significant savings versus buying from a local retailer that he price shopped at.

The retail sector is going through an interesting metamorphis right now that will affect advertising budgets for your magazine. Bricks-and-mortar are selling online and online stores are opening bricks-and-mortar stores. One of the keynotes at DX3 a digital marketing trade show was the CEO of Mountain Equipment Coop, David Labistour. He says 50% of their sales are now online. and they have a person dedicated to their twitter communication as part of their customer service and marketing efforts. He revealed some insight of the power of product reviews, when a product had a positive review sales doubled, but when it did not it when on sale.

To manage the 24/7 digital store model marketers are looking at marketing automation technologies to manage the customer data . What has emerge to solve this puzzle of interacting with your customer online 24/7 is a concept called “Real Time Marketing”. The vision is to create a personal one-on-one marketing solution that automates customer communications based on artificial intelligence using “Predicative Marketing” . The predicative algorithms (software logic) are based on digital content consumption habits and predicting future needs based on their demographic profile.

Big Data

The expected outcome of such technology is a continuous one on one conversation with the customer that has the personal touch. This type of technology will certainly change the way circulators work and the ad sales manager in the development of ad proposals. Real time marketing concept basically takes a page of the direct marketing handbook for personalized direct mail program with a digital spin. The technologies can interact with the customer via email or website.

Another marketing automation technology is social media monitoring solutions. These technologies enable you to track key words across all social media sites to monitor brand chatter. This brand chatter is the media equivalent of brand mentions in traditional media analysis. These next wave of technologies is just the beginning says Arjun Basu , content director at Spafax, he says the digital world is just starting puberty.

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