Personalized marketing is a type of marketing in which the advertisers use the latest technology to meet each individual customer. They use big data analysis and digital technology to send individualized, customized communication to current customers or prospective customers. Companies use data collection, analytics, digital technologies, electronics and e-economics to set up more effective and real-time customer experience.
To bridge the gap between what a customer wants and the endless choices available to the customers, personalized marketing is used. In order to provide a unique and quick way for customers to find what they are looking for and avoid wasting time in going through irrelevant content, products, website, and information.
Companies depend on many technologies for data collection, classification, analysis, data transfer and data scalability. Technologies enable companies to collect customer’s data on gender, age group, location, income and connect them with social media tools to increase participation.
Data Management Platform(DMP) is a system that process and analyze big data from a centralized location. The system collects, integrates and manage large sets of structured and unstructured data. DMP is also responsible for customers receiving relevant, timely, engaging and personalized messages & Ads.
A Data management platform is a data warehouse. It records, sorts and stores large sets of data across multiple platforms such as email, e-commerce, google search, blogs & websites. It gives useful and personalized information about customers to marketers. The major DMP providers are Adobe, Krux, Oracle Bluekai, CoreAudience, Knotice, Aggregate Knowledge and Lotame.
Bluekai is a Data management platform based on the cloud. It provides insights on the Bigdata for companies to make personalized marketing campaigns. Bluekai offers services related to data collection and it collects data from PC, smartphone, and tablets to enhance personalized marketing for clients. Before the acquisition, Bluekai has worked with companies like Twitter, Facebook, Walmart, Live.com, Huffingtonpost.com, Vimeo.com, Microsoft.com and Ebay.com to provide relevancy in the display advertisement. They collect customers information based on the users surfing web.
The company was created in 2008 by Omar Tawakol, Alexander Hooshmand, and Grant Ries as a startup providing marketing insights. On February 24, 2014 Bluekai was acquired by Oracle. The acquisition was around $400 million.
Bluekai specialties include advertising, big data, marketing, DMP, data, insights, analytics and campaign optimization. Oracle has acquired Bluekai to integrate with Oracle’s Marketing Cloud to provide Data management platform. Oracle’s Data cloud helps companies to target their customers to aggregate audience data, to implement customized marketing campaigns across all channels, to focus on better results and high ROI. They hold the world’s largest data marketplace with information on more than 700 million profiles. 300 clients across multiple industries rely on Oracle Bluekai to plan and execute their marketing campaigns.
How Oracle Bluekai Works? The process of how the Oracle Bluekai data cloud works and get information about a customer.
- A customer named ROB searches for “GST” on the internet and visits different sites that are partnered with Oracle data cloud, Oracle data cloud stores anonymous cookie on ROB’s browser
- Due to search keyword, Oracle data cloud mark ROB’s computer as being interested in GST
- Now the Oracle data cloud’s marketing partners will post interest based digital ads on ROB’s computer that are relevant to GST but only for a limited period.
- ROB’s interest/preference get changed automatically when he opts out of GST subscription emails or remove display ads as irrelevant. The preference to opt out of GST will be updated in the Oracle cloud registry automatically with the help of Bluekai.
The future of marketing strategy and business success depends on how well we communicate with customers in a language they are familiar with and the product they are interested in. New marketing strategy to include a tailored system that can provide DMP, geo-targeting and social media insights about each customer and potential customer.
“Technology is a useful servant but a dangerous master” – Christian Lous Lange.
The controversy associated with DMP was that the companies are using personal information to create the customized marketing strategy. As the data used in personalized marketing was the preferences from a user’s browsing history, many people consider this as exploitation of personal information.
About the Author – Hi, I am Jagannath from Marketing & Presales department, joined recently in 4i Apps as a Senior executive – Marcom. I hold a degree in Engineering and then completed masters in marketing.
I enjoy technology, marketing, branding, and data analytics.Share this post