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'''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.<ref>{{cite web|url=https://www.forbes.com/sites/adobe/2014/05/12/why-personalization-is-key-to-the-future-of-marketing/#a7cccc2150d9|title=AdobeVoice: Why Personalization Is Key To The Future Of Marketing|last=Adobe|website=Forbes|access-date=2016-05-02}}</ref>
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)
== Technology ==
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== Costs and Benefits ==
Personalized marketing is used by businesses to engage in [[personalized pricing]] which is a form of price discrimination.
===Businesses===
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Personalized marketing had been most practical in interactive media such as the internet. A web site can track a customer's interests and make suggestions for the future. Many sites help customers make choices by organizing information and prioritizing it based on the individual's liking. In some cases, the product itself can be customized using a [[configuration system]].
The business movement during Web 1.0 leveraged database technology for targeting products, ads, and services to specific users with particular profile attributes.
Personalization is the term that later followed as a way of describing this evolution in Internet marketing.
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== Other marketing ==
More recently, personalized marketing, also known as Individual marketing, has become practical for bricks and mortar retailers.
Don Peppers and Martha Rogers, in their book on the subject, ''The One to One Future'',<ref>{{cite book|title=The One to One Future: Building Relationships One Customer at a Time|last=Peppers|first=Don and Martha Rogers, Ph.D.|publisher=Doubleday Business|year=1993|isbn=978-0-385-42528-5|url-access=registration|url=https://archive.org/details/onetoonefuturebu00pepp}}</ref> speak of managing customers rather than products, differentiating customers not just products, measuring share of customer not share of market, and developing [[economies of scope]] rather than [[economies of scale]]. They also describe personalized marketing as a four phase process: identifying potential customers; determining their needs and their lifetime value to the company; interacting with customers so as to learn about them; and customizing products, services, and communications to individual customers.
Some commentators (including Peppers and Rogers) use the term "one-to-one marketing" which has been misunderstood by some. Seldom is there just one individual on either side of the transaction. Buyer decision processes often involve several people, as do the marketer's efforts.
== Difficulties ==
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* Companies are storing and collecting data - but are not able to sync and analyze the right data together at the right time.
* Many marketers are looking for events and are not thinking about [[Behavioral targeting|triggers]] - This means that marketers are looking for external motives for personalization, such as holidays, while
* Hierarchal companies - personalization marketing works best in agile companies, companies where there's a lot of cross-department collaboration. But most companies are used to hierarchal, strict structures that prevents data sharing across companies.
* Not using adequate technology - the wrong technological solution has been implemented.
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