What is RTIM?
RTIM, also known as Real Time Interaction Manager or Management, uses real-time customer interactions, predictive modeling, and machine learning to deliver consistent, personalized customer experiences across channels. Many users view RTIM as the fast lane to business value because it gives marketers immediate visibility into critical moments throughout the shopping experience. Marketing teams are increasingly relying on predictive analytics, AI, and real time decisioning to maximize customer satisfaction and engagement, personalize offers, and align shopper behavior with business objectives. They are collaborating with CIO organizations to integrate data, refine processes, exploit the full range of analytics approaches, and even reshape entire business models to enhance customer experience.
Forrester Research analyst Rob Brosman originated the term Real-Time Interaction Management in 2012, and three years later Rusty Warner, another Forrester analyst, offered the formal definition of, “Enterprise marketing technology that delivers contextually relevant experiences, value, and utility at the appropriate moment in the customer life cycle via preferred customer touchpoints.” Warner also outlined the key elements of an RTIM system:
Recognizing customers and orchestrating content delivery across channels (including call and customer service centers, brick and mortar stores, and digital delivery outlets) and devices
Understanding the current context (including highly variable conditions) in conjunction with a detailed customer history
Determining the appropriate action, offer or message. This would best be informed by predictive analytics (this customer is most interested in this next offer) combined with business rules (e.g., if recommended, must be in stock)
Capturing interaction data for measurement and optimization
RTIM developed due to the proliferation of digital marketing because an RTIM system is ideally suited to next-best-actions or next-best-offers, proximity-based marketing, e-commerce recommendations, ad targeting and retargeting, call center decision management, and personalization (email, websites, mobile apps, social media).
Capabilities for Effective RTIM
Forrester designates three critical capabilities for RTIM: speed and agility, data-driven personalization, and cross-channel optimization.
1. Speed and Agility
The ability to serve relevant messaging at the customer’s moment of engagement or interaction.
2. Data-driven Personalization
The ability to integrate online and offline touchpoints and automate messages that treat each consumer as a segment of one.
3. Cross-channel Optimization
Leveraging machine learning to run A/B/multivariate tests on a regular basis to determine ideal strategies and continuously improve engagement.
Benefits of RTIM
Single Customer View: Combine inbound, real-time customer interactions with offline data.
- Increase Marketing Performance: Make real-time, context-based decisions for next best offer to boost response rates.
Consistent Personalized Cross-Channel Experience: Design and execute more powerful omni-channel customer journeys.
- Flexible and Scalable Deployment: Deployable in cloud, on-premises, or hybrid modes; built to scale-out seamlessly.
- Deliver Best Offer for Every Interaction: Provide contextually relevant content, based on real-time interactions, for every customer.
- GDPR Compliance: Meet General Data Protection Regulations (GDPR) requirements.
- Real Time Insights: A real-time decisioning engine determines next best action based on detailed, point of interaction customer insights.
- Simulation Insights: Run simulation tests to understand the potential results and predict how a campaign will play out with customers.
- Machine Learning Capabilities: A self-learning environment models likely campaign responses with real-time interactions for optimal message placement.
- Communication Optimization: Integrate online responses and campaign data to uncover insights that can improve campaign effectiveness.
- Business Rules Engine: An easy way to create rules from the simplest to the most complex.
Reporting and Analytics: Understand campaign effectiveness using interactive reporting and analytics dashboard.