Leverage Customer Data 25#
New value is created by collecting customer data and preparing it in beneficial ways for internal usage or interested third-parties. Revenues are generated by either selling this data directly to others or leveraging it for own purposes, i.e., to increase the effectiveness of advertising.
Examples: Iconic Cases
How they do it: By running a platform offering vouchers and coupons to products and services from 3rd party businesses, Groupon controls the marketing channel to the customer. It collects customer data and utilizes it to advertise new deals to customers. The value to its 3rd party businesses is a large existing base of customers interested in coupons, to which their service or product can be advertised.
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How they do it: Best Buy collects customer data to make recommendations based on the customers spending behaviour. This could include add-ons to certain products or discount or update alerts for products the customer has looked for previously on the Best Buy website.
Learn more about Best Buy →
How they do it: Customer data in Spotify is used to give the listeners individualized recommendations of what other music might be interesting to them as well as recommendations for live performances of their favorite artists.
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How they do it: Twitter personalizes advertisements shown on its website and mobile application based on customer data (e.g. browsing history and interests). This increases the effectiveness of advertising. Additionally, it partnered with third-parties who are granted access to its customer data, which then analyze this data.
Learn more about Twitter →
How they do it: The Cisco Customer Journey Platform provides sales and service contact centers the ability to improve their customer experience by leveraging the data in multiple contact center systems and applying predictive analytics, the Cisco Customer Journey Platform dynamically predicts each customer’s needs and matches the customer with the best agent to handle that need, improving performance, sales, and the customer experience.
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Below, the top industries for the pattern "Leverage Customer Data" are displayed, in order to get insights into how this pattern is applied across different industries. We've collected data from 5 firms using this pattern.
Top Industries
35% of firms using pattern
34% of firms using pattern
24% of firms using pattern
All Industries
Below, the pattern "Leverage Customer Data" is analyzed based on co-occurrence, in order to get insights into how this business model pattern is applied in combination with other patterns within the firms we studied.
Top Co-Occurrences
15 pattern co-occurrences
11 pattern co-occurrences
10 pattern co-occurrences