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: Verizon is among a number of american telecommunication companies who are leveraging customer data by selling them in an anonymized and aggregated format to third parties. Buyers of this data may generate insights from these usage statistics (e.g. identify possible locations for opening up a retail location based on mobile data patterns).
Learn more about Verizon Communications →
How they do it: Data collected by Salesforce’s CRM can be linked to other data sources (e.g. on Salesforce’s Marketing Cloud platform). This enables companies to leverage their customer data in new ways and create novel customer experiences.
Learn more about Salesforce →
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 →
How they do it: Facebook uses customer data to allow businesses to better identify target groups for their advertisements.
Learn more about Facebook →
How they do it: American Express uses customer’s data to target advertising of 3rd party services. As the company has a lot of information about its customers spending habits and amounts, it can cluster customers according to their wealth and purchasing power and hence provides an attractive value proposition for its 3rd party partners.
Learn more about American Express →
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.
