07 Feb Real time gets real…
While there was a huge amount of noise about real-time decision-making and real-time next best action marketing a few years ago, we haven’t as yet seen significant practical application of this technology.
This is set to change from 2017 onward. Many organisations looked into or acquired technology to facilitate real-time when it first emerged as a leading trend, but it is only now that many are actually practically applying it.
The reasons for this are manifold. The tendency is often to purchase a particular piece of technology, without first stepping back and putting together a clear business case and roadmap for the technology. Before purchasing any technology, organisations need to address the following:
- Why are we doing this? Is there a clear articulation of the existing or soon to be business problem we need to solve?
- What value is the purchase directly linked to? g. saving money, making money, enhancing the brand
- What is the measure of success? This is often too generic and not specific enough. It should be clearly articulated and documented.
- What do we actually need from the technology?
- Will value be achieved through core functionality or through the use of advanced features?
- Has this been documented in the business and investment plan?
- Do we have the right operating model and skills to successfully implement and integrate the technology?
- Are we already utilising the technology we have to best effect?
All too often these questions are not asked or answered until after a piece of technology has been purchased, which can lead to a significant disconnect between what a business thinks it is getting from a vendor and what it actually needs.
This has been the case with many implementations of real time marketing technology, which is why it has taken some time to see significant practical applications of this.
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