Today’s customers are in the driver’s seat—and they know it. To engage these picky, demanding customers, successful companies are scrapping traditional marketing methods in favor of digital approaches. These companies have mastered how to understand, predict, and interact with customers, make them relevant offers, and deliver a consistent experience through any channel.
At a glance
- Using clustering algorithms to spot hidden patterns, successful companies segment their customers by buying behavior—and profitability.
- Companies that understand their customers can use analytics to predict their behavior, rank them by their likely lifetime value, and gauge how much effort and investment to put into each interaction with them.
- Deep understanding enables companies to customize marketing campaigns and deliver customer service that boosts loyalty and retention.