If you want to increase revenue, you might want to consider engaging with your customers in real-time. This is the conclusion of a new report by analytics experts SAS.
According to The Age Of Now report, 60 per cent of UK organisations agree that engaging with customers in real-time can deliver an increase in revenue anywhere from 10 to 40 per cent.
However, in order to be able to have real-time customer engagement, businesses need to gather relevant personal data on their customers, and as things stand now – they’re only gathering a third of it.
A quarter (25 per cent) of that data is being used in segmentation for real-time customer engagement.
The report also says that 16 per cent of organisations in the UK are capable of adjusting their marketing communication in real-time, depending on customer behaviour.
For 17 per cent, it would take a few hours, and 25 per cent – a day.
Only a quarter would retract communication in case of an unexpected socio-political events. A third thinks they’d be able to switch communication channels to react to customer behaviour or external events.
“The Age of Now is dividing consumer-facing organisations. There is a small segment of organisations leading the charge to capture the imagination and needs of consumers,” commented Tiffany Carpenter, Head of Customer Intelligence at SAS UK & Ireland. “But most organisations are struggling to embrace real time. As consumers become ever more demanding of personalised experiences, organisations must bridge the gap by truly harnessing real-time customer engagement strategies. The strive for real-time communication is really focused on delivering at the right time.”
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