Real-Time Marketing & PR | David Meerman Scott

Summary of: Real-Time Marketing & PR: How to Instantly Engage Your Market, Connect with Customers, and Create Products That Grow Your Business Now
By: David Meerman Scott

Introduction

In the fast-paced digital world, businesses that wish to succeed must adapt to real-time marketing, communication, and product development. ‘Real-Time Marketing & PR’ by David Meerman Scott explores how today’s leading organizations leverage their agility to thrive amidst constant change and speed of marketplace competition. In this book summary, you’ll learn how instantaneous engagement can make or break a company’s reputation, how adjusting to the real-time framework can keep you ahead, and which strategies can facilitate effective communication in an increasingly mobile and hyperconnected environment.

Real-Time Agility

In the book, “Real-Time Agility,” the author discusses the importance of real-time engagement in today’s marketplace through examples of companies and individuals who successfully leveraged it. One such example is singer-songwriter Dave Carroll, who wrote and performed a song after United Airlines broke his guitar. The song went viral, causing United to suffer a huge black eye while Taylor Guitars and Calton Cases saw a boost in sales. The author argues that real-time engagement involves real-time marketing, product development, communication, and customer service. Successful companies, such as TMZ, Politico, and Bloomberg, understand the importance of providing real-time content to their niche audiences. Therefore, the book emphasizes the need for businesses and entrepreneurs to adopt a real-time mindset to remain competitive in today’s market.

Real-Time Media Mindset

The new business mindset prioritizes speed and agility in response to real-time media. Businesses must understand the “real-time power law” and the “real-time law of normal distribution” in order to stay ahead of the competition. Waiting and conducting extensive research are no longer viable approaches to customer satisfaction. Real-time media is growing, and companies need to act quickly to satisfy their customers’ rapidly changing needs. Businesses must be ready to “act before the window of opportunity vanishes,” “measure results today,” and “execute based on what’s happening now.” Larger firms, in particular, are often hindered by traditional corporate thinking. However, some well-known organizations like Boeing, Chevron, and Coca-Cola have already embraced the real-time mindset to stay ahead of the curve.

Real-Time Communication Strategies

In the age of social media, businesses need to respond quickly to news and events that might affect their markets or image, or risk being left behind. Companies need to utilize real-time communication strategies to connect with members of the media and the public quickly, efficiently, and effectively. By submitting news directly to targeted media outlets, using hashtags on Twitter, and utilizing news release distribution outlets, companies can get their story out in real-time. They should also employ Twitter to follow and engage with relevant reporters and track what people say about them online. By utilizing keyword searches and social web analytic services, companies can stay on top of industry conversations and smartly seize market share and profits by providing service at speed.

The Power of Crowdsourcing

Real-time companies are using crowdsourcing to accomplish tasks that are otherwise costly. Crowdsourcing has proven to provide more accurate results than paid specialists. For instance, BrandBowl used online crowdsourcing to determine the most popular Super Bowl ads in 2010. To develop customer loyalty, promoters must be nimble with real-time connections at three after-sale “contact points”: “Immediate postsale,” “ready to receive,” and “problem resolution and crisis communication.” Clicksquare helps companies develop strong real-time relationships with their customers using email programs. It is essential to learn which online channels your customers prefer and focus your contact efforts on those. The power of real-time information is an immensely powerful competitive advantage that every organization can have, through its people.

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