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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: 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: A lot of apps in the AppStore are available for free to the user, however while using the app, user behaviour and other information about the phone such as location are tracked. This data is then used to generate revenue with services such as targeted or location based advertisement.
Learn more about Apple iPhone/AppStore →
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: 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 →
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 25 firms using this pattern.
Top Industries
Services
63% of firms using pattern
63% of firms using pattern
Information Technology
47% of firms using pattern
47% of firms using pattern
Hardware
33% of firms using pattern
33% 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
Two-sided Market
10 pattern co-occurrences
10 pattern co-occurrences
Digitization
6 pattern co-occurrences
6 pattern co-occurrences
Long Tail
5 pattern co-occurrences
5 pattern co-occurrences