Precision marketing is a business strategy which uses technology and data to offer personalized and targeted marketing communications to particular individuals or groups. It comprises analysing customer data to effectively customize marketing efforts, increasing relevance and customer engagement.
Published in Chapter:
Bridging Genomic Data and CRM: Revolutionizing Customer Engagement
Nitesh Behare (Balaji Institute of International Business, Sri Balaji University, Pune, India),
Rashmi D. Mahajan (Balaji Institute of International Business, Sri Balaji University, Pune, India),
Shubhada Nitesh Behare (Independent Researcher, India),
Pritesh Pradeep Somani (Balaji Institute of International Business, Sri Balaji University, Pune, India),
Vishwanathan Iyer (Balaji Institute of International Business, Sri Balaji University, Pune, India), Ashwin Megha (Independent Researcher, India), and Shital Gupta (Bansal Institute of Science and Technology, Bhopal, India)
Copyright: © 2024
|Pages: 22
DOI: 10.4018/979-8-3693-2754-8.ch006
Abstract
The combination of genetic data and CRM systems has pushed customer engagement into a new world, totally transforming the traditional marketing strategies. This chapter explores the impact of the relationship between genomics and CRM together on understanding consumer behaviour, personalization, and targeted marketing. This chapter starts with the overview of using genomic data for understanding marketing. The discussion then progresses to the core concepts of CRM and the importance of the need of integrating CRM strategies with genomic data. Real world case studies are demonstrated highlighting the benefits of integrating genomic data and CRM. Emphasising the importance of handling the data with responsibility and maintaining the customer privacy, this chapter also addresses the arising challenges, explores the enhancements in the technological infrastructure required to facilitate the integration, and predicts the emerging trends. It also provides practical tips to find ways to adapt to this changing landscape and set the foundation for a customer centric future driven by genomic data.