Real-Time Campaign Management: Personalized Shopping Experience
Real-time campaign management enables companies to target specific shoppers for personalized offers. By analyzing behavior purchase data, deals could be constructed with different conditions. Let’s imagine. Carl is offered $15 off the next time he buys at least 3 pieces. On the other hand, Mike may buy if he receives a coupon for $12 off his next purchase of four pieces. Kate doesn’t like offers at all, so it may not be worth sending her a deal.
“The key is to set realistic customer expectations, and then not to just meet them, but to exceed them—preferably in unexpected and helpful ways.”
Richard Branson, Founder of the Virgin Group
The goods or service quality still matters, but a customer-centric model goes first. Today we are able to personalize content for our clients. Social media, PPC, and e-commerce channels help us to talk to the customers in their language. But what about a personalized consumer experience?
Special offers and prices are provided in real-time, they are fully customized to the customer profile and behavior, they already are omnichannel. You make it real-time, you make it embedded into your business processes, customers LTV and loyalty increase. Sounds like magic, the magic of real-time campaign management software.
Real-time campaign management systems (RTCM) are dynamic predictive omnichannel automated business solutions embedded into all core business processes connected to interact with the customer. To make it simple, RTCM is a set of software and activity, targeting to make any offer suitable for clients, based on their previous experience, preferences, location, behavior, and other factors.
Originally RTCM occurred in retail investment banking and telecommunications. The concept came out from CRM, but due to its heavyweight nature, RTCM is the most third-party application for enterprises.
Campaign Management Solution Benefits
Business Examples: Banking, Telecommunication, Retail, Services
An offer to take a new loan received via SMS or app after the previous repayment
Roaming packages offer in the airport upon arrival
Geo-location based special offer (voucher, %, etc.) near PoS with limited time validity
Adaptive newsletter with dynamic space holders - when the client opens the email, the required data (e.g. current weather forecast) will be immediately accessed and would match customers context
An extra-money proposal when a subscriber has run out of funds in the account.
How Offers Work in RTCM Solutions
From Customer Management to Personalized Offers & Benefits
Following Gartner, 43% of product managers at growth companies use real-time analytics to collect customer experience information. Campaign management software can keep qualitative and quantitative data on different aspects of customers' behavior and background. For example, telecom operators “know” the age groups of the customers, their location, time of activity, the most popular transactions, the channel they use to do them, response to price increasing and new services/products offering, behavior after the special offer ends.
This gives the opportunity to design a data-driven personalized customer shopping experience and increase customer satisfaction and LTV for a company.
Retail Campaign Management in Action: Real Example
In the coronavirus conditions, retail must think about maintaining an omnichannel solution. Sellers should stop differentiating e-commerce and brick-and-mortar stores. RTCM enables us to keep a consistent and unified approach to the service provision.
Personalization of coupon delivery is a shining example of Real-Time Campaign Management work. This instrument allows selling the same goods to a variety of buyers for different prices. They will get offers via gadgets, so the proposal anyway will be targeted. For instance, the store sent a coupon for $3 to John and motivated him to purchase two units next time. But maybe for Jane, a $2 coupon will be enough to buy three or more ones tomorrow. Somebody like Joey won’t even use a coupon. So, based on the previous customer experience and behaviour, RTCM can make an offer suitable for every client.
Why Does Business Need RTCM solutions?
Following CMO Council research, 95% of respondent consumer marketers don’t have a needed depth of data. Real-Time Campaign Management solutions can provide it. Because of this approach, a company gets relevant information about clients' preferences directly from them. It allows a user to update customers' profiles and make a service personalized.
RTCM empowers marketing activities, providing marketers with a direction for various campaign formation. The last ones become more targeted and efficient.
This instrument can improve a client's experience and interaction with a company due to satisfy the customer demand on time or even earlier.
RTCM speeds up a company's digital transformation.
From Event-Based Campaigns to Ongoing Contextual Interaction
RTCM solutions can provide a variety of campaigns with various criteria:
Reactive vs. Proactive
Inbound vs. Outbound
Objective: Acquire, Service, Grow, Retain, Reward, Win-back
Tactical vs. Strategic
With help of predictive analysis and designing of numerous customer scenarios for real-time interactions, we deliver high-quality digital business solutions to create a bespoke shopping experience.