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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: 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: Facebook uses customer data to allow businesses to better identify target groups for their advertisements.
Learn more about Facebook →
How they do it: Payback utilizes its cross-store customer purchasing data to target its coupon and advertising offerings to the individual customer. In addition it can use the data for large scale data analysis, providing its business customers with insights into their target groups and their purchasing behaviour.
Learn more about Payback →
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: 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 →
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