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.
How they do it: Google’s search engine is free to use for all customers. However Google monetizes its user’s data and search queries through providing companies the possibility for targeted advertising which allows them to target exactly the customers that are looking for a certain product or service and also enables the customers to better find what they are looking for.
Learn more about Google →
How they do it: Craigslist utilizes user data to target results to searches and help both seekers and finders to find better results to their searches.
Learn more about Craigslist →
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.
Learn more about Cisco →
How they do it: Like Facebook and Twitter, Pinterest lets marketers access the data collected on its users. By granting access to users’ data, Pinterest lets marketers investigate how people respond to products. The so-called Pinterest Analytics compares to Google Analytics. It is a service that generates comprehensive statistics on a specific website’s traffic.
Learn more about Pinterest →
How they do it: Customer data in the iTunes store and in Apple Music is used to give the listeners individualized recommendations of what other music might be interesting to them.
Learn more about Apple iPod/iTunes →
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.
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.
