This was a sponsored post by DigitasLBI under the Master Report series.
When it comes to real-time marketing, standing out in the cluttered digital space can prove to be an uphill task. Many say content can solve this issue. According to Golin’s "2017 Global Relevance Review", marketers need to look at the characteristics of the content they put out.
But not all content can be simply slapped on to create resonance. Each market has its own unique nature. For example, when it comes to information or content which Singaporeans find relevant, content which is viewed as “intriguing” outranks other characteristics at 44%. Coming in a close second is content which is informative (43%), followed by content which is practical or useful (42%).
According to the study, globally, social media channels are able to drive the highest amount of relevant interactions online, coming in at 58%. This beats word of mouth from friends and family, which comes in at 45%.
While relevance is critical in driving successful real-time marketing, industry players Marketing spoke to about the subject voiced the importance of understanding your customer. Lim Bee Bee, head of marketing for the consumer banking group (Singapore) at DBS Bank, is of the view that being data-driven is crucial in driving relevance in marketing. This is especially true when marketing to a highly connected consumer in a highly competitive market.
For DBS, the use of programmatic buying in digital media is one way to stay relevant with its target audience. According to Lim, this allows the bank to target its audience based on their interest or affinity with the brand. It also allows the brand to send messages which are a lot more contextual.
“We are also experimenting with dynamic creatives that allow us to modify our messaging depending on the context so that it becomes more relevant,” she said. For example, a credit card offer can be pitched with different visuals and messages depending on the target audience and the digital channel the ad appears in.
Agreeing with Lim was Caitlin Nguyen, global marketing – digital and CRM lead, digital transformation, at Fonterra, who said that creating relevance with your target audience starts with a deep understanding of your customer. This, in turn, starts with data and how data collection, data management and data insights are operationalised within a brand’s organisation. For some organisations, Nguyen said having data scientists internally was useful. However, for others, this duty can be outsourced.
Companies that use a variety of marketing technology tools available in the market tend to have a competitive edge.
“This is because they have the capability to use first party consumer data and tools such as predictive intelligence to craft relevant experiences for their customers,” she said.
To ensure a brand is always there in the moment of purchase by customers, brands also need to map out the customer journeys and engage with the customer through the relevant touchpoints at the right time. These customer journeys can be per segment or persona.
This can be done through the use of marketing technologies and customer success platforms. Through these platforms, journeys can be designed and configured to automatically take a customer through a particular experience. This can be across relevant channels such as email, mobile or social media.
“Data and insights will indicate to us when the customer is ready to convert or purchase,” she added.
Lim also explained that analysing customer data allows it to identify customers present at a particular junction – especially those with a higher probability of conversion. This allows DBS to send text messages or eDM messages to customers at a specific time to incur higher rates of conversation. In addition, the bank relies on a fair amount of analytics from data mining tools which show where its web visitors originate from.
For example, the bank is able to find out if a customer has completed an application form. If the user has yet to respond, DBS will be able to re-market to said user with a slightly different messaging to achieve a more successful result. This has proven to be quite effective in garnering final conversions, according to Lim.
More tips below from DigitasLBI:
Success in real-time advertising, given all the challenges affecting how consumers interact with digital media, necessitates that marketers step away from the media planning status quo and adopt a customer-centric, or, CRM operating model.The foundation of real-time advertising is fresh data. The best source of that data is your customers. It is time to change the game. Find out more about the insights from DigitasLBi on real-time marketing.
What started out as a social media pilot on a single platform to launch a new cinematic franchise across Southeast Asia, has evolved into an integrated live newsroom, supporting all releases for six brands using four digital platforms. Take a look at the case study that brought greater customer engagement with a real-time platform.