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Personalized marketing: Difference between revisions

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'''Adapt to technology:''' For personalized marketing to work the way advocates say it will, companies are going to have to adapt to relevant technologies. They will have to get in touch with the new and popular forms of social media, data-gathering platforms, and other technologies that not all current employees and businesses may be familiar with or can afford. Companies that have been able to afford it, have employed [[machine learning]], [[big data]] and [[Artificial intelligence|AI]] that make [[personalization]] automatic.<ref>{{Cite web|date=2020-11-05|title=How to use AI to solve FMCG business problems using a recommendation for a Shopping List as a use case|url=http://civalue.levit.dev/blog/omnichannel-personalization/how-to-use-ai-to-solve-fmcg-business-problems/|access-date=2021-04-26|website=ciValue|language=en-US}}</ref>
 
'''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><ref>https://www.intellias.com/industry-5-0-whitepapper/</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.<ref>{{cite web|url=https://www.forbes.com/sites/adobe/2014/05/12/why-personalization-is-key-to-the-future-of-marketing/#255cf90150d9|title=AdobeVoice: Why Personalization Is Key To The Future Of Marketing|last=Adobe|website=Forbes|access-date=2016-04-20}}</ref> Specifically, the [[European Union|EU]] has passed rigid regulation, known as [[General Data Protection Regulation|GDPR]], that limits what what kind of data marketers can collect on their users, and provide ways in which consumers can suit companies for violation of their privacy. In the US, [[California]] has followed suit and passed the [[Online Privacy Protection Act|CCPA]] in 2018.<ref>{{Cite web|title=How Brands Can Personalize at Scale|url=https://www.gartner.com/en/marketing/insights/daily-insights/how-brands-can-personalize-at-scale|access-date=2021-04-26|website=Gartner|language=en}}</ref>
 
== Controversies ==