Real-time marketing involves providing the most contextually relevant action for a prospect or customer at the moment they are engaging with you. Drawing on up-to-the-second knowledge of customer value, intent, and situation, real-time marketing allows marketers to make the next best offer to customers, thus building loyalty. Achieving real-time marketing requires several key capabilities such as:
- The ability to leverage updated customer information and behaviors, the instant they become available
- The ability to adjust marketing offers dynamically in response to new customer data, insights, and analytics
- The ability to execute those next-best-offers in any channel
To achieve real-time marketing, you’ll need a Next-Best-Action capability, built as the centerpiece (the core engine) of your CRM platform.
Why do real-time marketing?
While on buying journeys, consumers come to decisive moments. When considering what consumers expect at those moments, brands must assume they are impatient, easily distracted, and likely to act suddenly. As such, speed becomes paramount to meeting customers’ needs.
Exactly when customers will engage with you, and on which channel, isn’t clear. However when they enter your world, what’s clear is they expect the right answers fast.
With a real-time marketing approach, you’ll be poised to instantly draw on past customer data (what they bought, for example), factor in immediate customer context (location, intent, latest behavior), and offer them the product or service that best suits their needs – all in milliseconds. Do this, and you can expect three-to-six times the response and conversion rates.
Pega Real-Time Marketing
Created from the ground up with a real-time marketing engine at its core, global enterprises use Pega Marketing to serve over 100,000 recommendations every minute. Whether you’re a communications service provider, an insurance company, or a financial institution, Pega has proven its real-time marketing application both scales and provides unprecedented return on investment.
Optimizing customer lifetime value is critical to both revenue and profit margin, focusing on customer acquisition, retention, and growth. Brands using Pega real-time marketing have experienced ROI from 200% to 500%, and revenue gains in the hundreds of millions of dollars.
One of the primary reasons organizations choose Pega for real-time marketing: it’s the only solution on the market with a Customer Decision Hub that uses artificial intelligence and machine learning to rank the most relevant offers, and serve those into any customer-facing channel in real time. With each impression and response, the decision hub learns what works and what doesn’t, optimizing its performance over time.
The Pega solution for real-time marketing draws on diverse customer data, listens for critical events, tracks customer behavior patterns, and then triggers the next-best-action at precisely the right moment through any channel, including call centers, social media, mobile, and the web.