Without exaggerating or overemphasizing, companies must strive to catch up current developments on market (particularly those of business in question). Today, we cover super agile hot topic of real time marketing and to what extent do we witness it nowadays. Needless to mention, context of Balkan has been taken into consideration.
What is Real Time Marketing?
From academic standpoint there are whole bunch of authors defining real time marketing and its appearance. Basically, concept of real time marketing stands for super agile, flexible, creative and coordinated marketing actions by a given company. Strong accent is on time stamp of the actions, imposing necessity to continuously looking for an opportunity to jump in and use it accordingly. It should result in overall buzz, publicity etc. Benefits to be expected: better customer experience, improved retention, improved conversion rates, better brand perception, personalization, increase order values and higher profit margins. Source.
However, it comes with a rather appealing setback: hard to measure conversion metrics (ultimate sales and ROI initiated by real time marketing).
In times of super strong internet interference in marketing activities, it is needless to say that possibilities are practically limitless and never easier to browse.
But still, we do not witness much of a real time marketing in Balkans. Somehow, we are still behind although every single company uses internet for instance. Why?
Why Do We Still Lack Real Time Marketing in Balkans?
As for the general business and marketing Balkan, unfortunately it takes a while (read few years) companies realize that need to be creative, proactive and all that timely packed is ultimate necessity. No questions on that. It is simple imposed by external environment.
By observing Balkans, I must admit that in last 2-3 years I have not been made aware of any proper real time marketing action, reaction or activity (please bear in mind and do not confuse it with PR and promoted materials).
Unfortunately, a long list could be compiled. Herewith, I am coming out with some of the most obvious and strikingly important ones.
- By simply browsing internet for marketing activities of companies in Balkans, we can conclude the reactive (instead of proactive) way of marketing thinking and acting prevails. Namely, companies act with a remarkable leg on a relevant developments (not only in marketing). This in case they act, at all. This directly collides with main postulate of real time marketing – to be agile and flexible.
- As a continuation of the first point, we do witness copy-paste marketing activities all around Balkans (with few 0utstanding examples: Applause for Suva Reka, The Marketing Campaign, Fragrance by Me etc). Again, bringing almost nothing new, nothing creative and ultimately nothing unique to trigger buzz. In the end, directly clashing with creativity aspect of real time marketing.
- Lack of resources – which is to the certain extent understandable. But, have a look on these stunning real time marketing examples.
Can you maybe guess the cost of these campaigns? Barely few hundreds euros, if even that. Result: worldwide publicity, tons of articles about these companies, stunning buzz etc. So, resources might be somewhat limiting factor in marketing matrix, but creative approach is a mother of success in this case.
- Local, Balkan, passive and outdated business view. Far the greatest limitation. Marketing has been understood as a costly and imposed necessity (middleman between clients and sales), not as a specific tool to approach your clients and bond them to you. Directly influencing doze of real time marketing we find on the market.
What should be encouraging in terms of real time marketing are new waves of SMEs, startups and small enterprises that finally understood the need to fully go in-line with those business and marketing principles of 21st century.
However, we already covered one cutting edge real time marketing example in Balkan. For full reference please check out this article and check out how Croatian Tourist Board acted in a stunning manner.
We promise to keep our eyes wide open in order to catch any real time marketing doing or misdoing in Balkans. You feel free to share your thoughts, comments and any real time marketing we omitted.
Stay tuned for more interesting stories,