I'd like to know more about a manual approach.
I think both approaches are valid. I took the automated approach to online dating, married now. So that worked out.
Taking the automated approach for companies will probably work in a similar fashion as online dating. However, unlike online dating, I feel very strong targeted approaches have a chance of working better as long as you get to the interview stage.
Targeted approaches don't work with online dating as the biggest issue is figuring out with whom you have chemistry. For work, there's no such thing to figure out - not to the extent as it is required like romantic intimacy.