Personalized marketing
marketing strategy using data analysis to deliver individualized messages and products
Personalized marketing, also known as one-to-one marketing or individual marketing, is a marketing strategy by which companies use data analysis and digital technology to show adverts to individuals based on their perceived characteristics and interests. Marketers use methods from data collection, analytics, digital electronics, and digital economics then use technology to analyze it and show personalized ads based on algorithms that attempt to deduce people’s interests.
Technology
Personalized marketing is dependent on many different types of technology for data collection, data classification, data analysis, data transfer, and data scalability. Technology enables marketing professionals to collect first-party data such as gender, age group, location, and income, as well as connect them with third-party data such as click-through rates of online banner ads and social media participation.
Data Management Platforms: A data management platform (DMP) is a centralized computing system for collecting, integrating and managing large sets of structured and unstructured data from disparate sources. Personalized marketing enabled by DMPs is sold to advertisers with the goal of having consumers receive relevant, timely, engaging, and personalized messaging and advertisements that resonate with their unique needs and wants. Growing number of DMP software options are available including Adobe Systems Audience Manager and Core Audience (Marketing Cloud) to Oracle-acquired BlueKai, Sitecore Experience Platform and X+1
Customer Relationship Management Platforms: Customer relationship management (CRM) is used by companies to manage and analyze customer interactions and data throughout the customer lifecycle, improving relationships, boosting retention, and driving sales growth. CRM systems are designed to compile information on customers across different channels (points of contact between the customer and the company) which could include the company's website, live support, direct mail, marketing materials and social media. CRM systems can also give customer-facing staff detailed information on customers' personal information, purchase history, buying preferences and concerns. Most popular enterprise CRM applications are Salesforce.com, Microsoft Dynamics CRM, NetSuite, Hubspot, and Oracle Eloqua.
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This entry incorporates text from “Personalized marketing” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.