Content deleted Content added
m Reverted edits by Sullioapoi (talk) to last version by DavidBrooks |
Tags: Mobile edit Mobile app edit Android app edit |
||
| (14 intermediate revisions by 10 users not shown) | |||
Line 5:
{{promotional tone|date=April 2021}}
}}
{{Use mdy dates|date=October 2023}}
'''Personalized marketing,''' also known as '''one-to-one marketing''' or '''individual marketing''', is a [[marketing]] strategy by which companies leverage [[data analysis]] and digital technology to deliver individualized messages and product offerings to current or prospective customers. Advancements in [[data collection]] methods, [[analytics]], [[digital electronics]], and [[Digital economy|digital economics]], have enabled marketers to deploy more effective [[real-time computing|real-time]] and prolonged [[Customer relationship management|customer experience]] personalization tactics.
Beginning in the early 1990s, [[web developer]]s began tracking [[HTML]] calls that their websites were receiving from online visitors. In 2012, the Web Analytics Association (WAA) officially changed its name to the Digital Analytics Association (DAA) in order to accommodate new and developing data streams that exist in addition to the web.<ref>{{cite web|url=http://www.digitalanalyticsassociation.org/about|title=Digital Analytics Association|website=www.digitalanalyticsassociation.org|access-date=2016-05-02}}</ref>
Line 14 ⟶ 15:
{{anchor|DMP}}'''Data Management Platforms''': A data management platform (DMP) is a centralized computing system for collecting, integrating and managing large sets of [[Structured data|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 [[Advertising|advertisements]] that resonate with their unique needs and wants.<ref>{{Cite news|url=http://www.stateofdigitalpublishing.com/opinion/what-is-dmp-data-management-platform/|title=What is a Data Management Platform, or DMP?|date=2016-11-20|work=State of Digital Publishing|access-date=2017-11-30|language=en-US}}</ref> Growing number of DMP software options are available including [[Adobe Systems]] Audience Manager and Core Audience ([[Adobe Marketing Cloud|Marketing Cloud]]) to [[Oracle Corporation|Oracle]]-acquired [[BlueKai]], [[Sitecore]] Experience Platform and X+1<ref>{{cite web|url=http://blogs.gartner.com/martin-kihn/data-management-platform/|title=What Does a Data Management Platform Do, Anyway? - Martin Kihn|date=2015-01-07|website=Martin Kihn|language=en-US|access-date=2016-05-02}}</ref>
'''Customer Relationship Management Platforms''': Customer relationship management (CRM) is used by companies to manage and analyze customer interactions and data throughout the customer lifecycle to improve business relationships with customers, assist in [[customer retention]] and drive 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]], [[Web chat#Live support software|live support]], [[Advertising mail|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.<ref>{{cite web|url=http://searchcrm.techtarget.com/definition/CRM|title=What is customer relationship management (CRM) ? - Definition from WhatIs.com|website=SearchCRM|language=en-US|access-date=2016-04-20}}</ref> Most popular enterprise CRM applications are [[Salesforce.com]], [[Microsoft Dynamics CRM]], [[NetSuite]], and Oracle Eloqua.
'''Beacon Technology''': Beacon technology works on [[Bluetooth low energy|Bluetooth low energy (BLE)]] which is used by a low frequency chip that is found in devices like mobile phones. These chips communicate with multiple Beacon devices to form a network and are used by marketers to better personalize the messaging and mobile ads based on the customer's proximity to their retail outlet.
== Strategies ==
Line 46 ⟶ 47:
'''Restructuring current business models:''' Adopting a new marketing system tailored to the most relevant technologies will take time and resources to implement. Organized planning, communication and restructuring within businesses will be required to successfully implement personalized marketing. Some companies will have to accept that their current business and marketing models will change radically, and probably often. They will have to reconsider the ways customer data and information circulate within the company and possibly beyond. Company databases will be flooded with expansive personal information – individual's geographic location, potential buyers’ past purchases, etc., and there may be complications regarding how that information is gathered, circulated internally and externally, and used to increase profits.<ref>{{cite web|url=http://www.mckinsey.com/industries/high-tech/our-insights/the-internet-of-things|title=The Internet of Things|website=McKinsey & Company|access-date=2016-04-20}}</ref>
'''Legal liabilities:''' To address concerns about sensitive information being gathered and utilized without obvious consumer consent, liabilities and legalities have to be set and enforced. [[Privacy]] is always an issue, in some countries more than others, so companies have to manage any legal hurdles before personalized marketing can be adopted.
== Controversies ==
Line 52 ⟶ 53:
===Use of algorithms===
Data is being generated by [[algorithm]]s, and the algorithms associate preferences with the user's [[browsing history]] or [[personal profile]]s. Rather than discovering new facts or perspectives when one searches for news, information, or products, one will be presented with similar or adjoining concepts ("[[filter bubble]]"). Some consider this exploitation of existing ideas rather than discovery of new ones.<ref>{{cite web|url=https://contently.com/strategist/2016/01/25/infographic-the-problem-with-personalized-marketing/|title=Infographic: The Problem With Personalized Marketing — The Content Strategist|website=The Content Strategist|date=25 January 2016 |language=en-US|access-date=2016-04-20}}</ref> Presenting someone with only personalized content may also exclude other, unrelated news or information that might in fact be useful to the user.{{citation needed|date=October 2018}}
Algorithms may also be manipulated. In February 2015, [[Coca-Cola]] ran into trouble over an automated, algorithm-generated bot created for advertising purposes. [[Gawker]]’s editorial labs director, Adam Pash, created a [[Twitter]] bot @MeinCoke and set it up to tweet lines from ''[[Mein Kampf]]'' and then link to them with Coca-Cola’s campaign #MakeItHappy. The result was that for two hours, Coca-Cola’s Twitter feed was broadcasting big chunks of [[Adolf Hitler]]’s text.<ref>{{Cite news|url=https://www.theguardian.com/business/2015/feb/05/coca-cola-makeithappy-gakwer-mein-coke-hitler|title=Coca-Cola pulls Twitter campaign after it was tricked into quoting Mein Kampf|last=Woolf|first=Nicky|date=2015-02-05|newspaper=The Guardian|language=en-GB|issn=0261-3077|access-date=2016-04-20}}</ref> In November 2014, the [[New England Patriots]] were forced to apologize after an automatic, algorithm-generated bot was tricked into tweeting a racial slur from the official team account.<ref>{{cite web|url=http://www.adweek.com/news/technology/new-england-patriots-accidentally-tweet-out-racial-slur-161424|title=New England Patriots Accidentally Tweet Out a Racial Slur|website=AdWeek|date=November 14, 2014 |access-date=2016-04-20}}</ref>
== Internet marketing ==
Line 73 ⟶ 74:
== Difficulties ==
[[McKinsey & Company|McKinsey]] identified 4 problems that prevent companies from implementing large scale personalizations:<ref>[https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/personalization-at-scale-first-steps]</ref>
* Companies are storing and collecting data - but are not able to sync and analyze the right data together at the right time.
Line 81 ⟶ 82:
== See also ==
{{div col}}
* [[Behavioral targeting]]
* [[California Privacy Rights|CCPA]]▼
* [[Configurator]]
* [[Datafication]]
* [[Digital marketing]]
* [[General Data Protection Regulation|GDPR]]▼
* [[Hypertargeting]]▼
* [[Internet marketing]]
* [[Mass customization]]
* [[Recommender system]]▼
* [[Management information system]]
* [[
* [[Real-time bidding]]▼
* [[Real-time data]]
▲* [[Recommender system]]
* [[Relationship marketing]]
* [[
▲* [[Internet marketing]]
* [[Variable pricing]]▼
* [[Variable data printing]]▼
▲* [[Real-time marketing|Real-time Marketing]]
* [[Surveillance capitalism]]
* [[
▲* [[Variable data printing]]
▲*[[General Data Protection Regulation|GDPR]]
▲* [[Variable pricing]]
▲*[[California Privacy Rights|CCPA]]
{{div col end}}
▲*[[Hypertargeting]]
▲*[[Real-time bidding]]
== References ==
Line 106 ⟶ 111:
[[Category:Market segmentation]]
[[Category:Mass media monitoring]]
| |||