Personalized marketing: Difference between revisions

One-to-one marketing<ref>{{Cite web|title=What is one-to-one marketing? How it can help your business|url=https://www.vedia.ai/blog/one-to-one-marketing-definition/|date=2019-07-02|website=Dynamic Video and Video Automation {{!}} Vedia|language=en-US|access-date=2020-05-08}}</ref> refers to marketing strategies applied directly to a specific consumer. Having a knowledge of the consumer's preferences, enables suggesting specific products and promotions to each consumer. One-to-one marketing is based inon four main steps in order to fulfill its goals: identify, differentiate, interact, and customize.<ref>[http://hbr.org/1999/01/is-your-company-ready-for-one-to-one-marketing/ar/1 "Is Your Company Ready for One-to-One Marketing?"] Harvard Business Review, January–February 1999, accessed July 27, 2011</ref>

#'''Identify''': In this stage, the major concern is to get to know the customers of a company, to collect reliable data about their preferences and how their needs can best be satisfied.

#'''Differentiate''': To get to distinguish the customers in terms of their lifetime value to the company, to know them by their priorities in terms of their needs, and segment them into more restricted groups.

#'''Interact''': In this phase, itone is neededneeds to know by which communication channel and by what means, contact with the client is best made. It is necessary to get the customer's attention by engaging with him/her in ways that are known as being the ones that he/she enjoys the most.

#'''Customize''': ItOne is neededneeds to personalize the product or service to the customer individually. The knowledge that a company has about a customer, needs to be put into practice and the information held has to be taken into account in order to be able to give the client exactly what he/she wants.

Many people are concerned that companies are using too much personal information<ref>{{Cite web|title=Personalized Marketing Faces New Consumer Privacy Concerns|url=https://www.cpomagazine.com/news/personalized-marketing-faces-new-consumer-privacy-concerns/|date=2019-11-04|website=CPO Magazine|language=en-US|access-date=2020-05-08}}</ref> to create the personalized marketing used today by businesses.