Aug 21, 2017 Doing Real-Time Right
PARTNERS Session: Strategies for Real-Time Customer Interactions
“Real time isn’t going to solve all your problems, it needs to be incorporated into your larger ecosystem of messaging, as part of your overall strategy.” That is the message from David Carmer, Sr. Applications Consultant, Teradata.
It is, however, going to be a necessary and integral part of the communications mix for many industries. That’s why David’s PARTNERS Session, Strategies for Real-Time Customer Interactions, should be a must-see for marketers.
Over the last year, it seems like everything has been about real-time messaging. If you have a sense of déjà vu, you’re not alone. According to David, five years ago we went through a similar cycle with social media. There are similar issues that apply here: “If you don’t have a good strategy for marketing to begin with” and think that “my only problem is I haven’t been getting my messages out quickly enough,” you’ll be in for a rude-awakening, says David.
For example, in certain industries if you use real-time messaging after a customer takes an action, you’re just reacting. If that’s all you do, without any sort of conscious decision, you’re not really connecting with customers; you’re interrupting and intruding. According to David, when that happens, “customers get the idea that everything’s automated. Their perception is that you’re not really interacting with people, or a company that cares about people. They feel that ‘I’m just being traded by another cog.’ And that’s not good.”
Where Real-Time Shines
According to David, the applications where real-time really shines, are, surprise surprise, in situations that are actually time sensitive. “My flight got cancelled, you’re supposed to be in for an appointment, or vaccines have run out—those are all issues where the customer wants and needs to know right away.” Addressing them in real-time improves the customer experience. Telling a customer they left an item in their shopping cart is probably not. Another would be Telco. “A couple of dropped calls and a customer might disappear if they aren’t addressed,” says David.
One segment that is doing real-time right is the financial industry. “If somebody comes in and closes their individual retirement account because they’re rolling it over someplace else, that’s business that they’ve lost. They want to react to that quickly. They’re (financial institutions) much more time-sensitive to large transactions, large deposits, large withdrawals, and anything that could lead to fraud detection. That’s why real-time decisioning seems to be resonating so well with the financial industries. It matters.”
Who is Winning?
From his perspective, most companies are still early in the process. “Teradata is seeing a handful of the first customers that are truly embracing real time decisioning. They’re out in front of the crowd, and usually the market leaders in their particular industry. A lot of the companies are still struggling to do dialogue marketing. When you talk about social, mobile push, real-time interaction, it’s beyond what a lot of them are doing now. They all have designs to go in that direction, however. It’s those real dedicated chief marketing officers that really drive it with a passion, where they’re getting to real-time.”
“I love going to PARTNERS because I get to talk to attendees and they always give me inspirations for new things to do in the demo environment. It’s very inspiring. A lot of ideas get exchanged. As much as I talk about the great things in our software, they always ask me questions about something that is just completely off the wall. It’s, yeah, that makes sense, and wow, we should build that into the demo, that’s a cool new thing that we need to tell the sales associates about. I really enjoy that. I think the days at PARTNERS are worth a month of customer meetings.
“One of the sessions that I always try to get to is anything that Mark Swenson is presenting. He is a fantastic presenter in the marketing space, and always seems to have a unique take on the value of our applications. He’s an exciting, dynamic speaker, so always very entertaining.”
One thing for sure is that the ability to interact in real-time is going to be expected by customers and critical for their experience—and market leaders had better deliver. Be sure to register for PARTNERS to see David and Mark Swenson’s sessions
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Senior Application Consultant, Teradata
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