Is it now a more effective marketing tool used to promote a company's brand or a specific product compared to traditional marketing conducted in new media, on social media portals Real-Time marketing?
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It depends on the nature of the product. For luxury items, the store remains vital and online shopping is rare. In countless other products and services, the answer is yes.
Frankly, real time marketing appears to be overrated. People will make up their minds and buy things as per needs. Breathing down their necks and tacking them in real time may get some successes, but hardly effective.
I think it is relevant to define real-time marketing in the case.
If we are talking about real-time marketing as to using recent events of political, sports or regional character (a power breakdown on a local level for example), I think it has a limited power and it can wear down pretty easily especially if used excessively by many brands. In my opinion it is an attempt to connect to your target group through the shared experience of an occurence instead through connecting on a deeper level (why is your product such a good fit for this particular person and who they are).
I would add here that tradional marketing always used a certain degree of "contemporariness", so nothing new here. It is just that nowadays the speed of communicating directly to your customers can be in a matter of seconds.
If we are talking about real-time marketing as in automatic marketing on online platforms like shops (e.g. showing discounts for the day in the nearest shops to you), then I would say it is more of a complementary tool to traditional marketing than a substitute. The way I see it its effectivity lies more by already acquired customers than by winning new ones.
What are your thoughts on this?
Dariusz Prokopowicz
I agree with Katerina Tatarlieva. You need to define "real time." In addition, you need to define effective, context, market segment and product/service category (high involvement versus low involvement categories, normal, inferior or Veblen products and GICS classification).
As an example, if you are marketing a beverage (cold bottled water or carbonated drinks) on a hot day (38 degree celsius) and you send me location based advertisement telling me where I can get a beverage, would I notice the advertisement? Most probably. Would I respond to the advertisement? It depends, but most probably. Was real time effective? The answer is, that specific real time marketing tactic was effective, in that specific context and with that specific target market, in that specific setting, with that specific product class.
Would you then conclude that modern day real time is better than traditional real time? The answer to this depends on a variety of factors. Remember that real time marketing has always been there. The key difference is automation and speed.
In my opinion, the main determinant of the development of Real-Time marketing is the development of new online information media, including primarily social media portals.
Do you agree with me on the above matter?
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