Deriving customer genome characteristics from online behavior
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Last Updated: Dec. 4, 2014, 11:59 p.m.
In the past, businesses relied on market and customer segmentation to guide their sales and service strategies. But in today’s digital era, the practice of distilling millions of customers into sub-categories based on customer relationship management information is no longer sufficient. Now as businesses go digital, they must also evolve their customer engagement and interaction strategies to attract and retain digital customers—ones who are deeply connected, highly informed and consistently on-the-go.
Instead of vying for one-time transactions in the traditional purchase funnel, businesses must set a new goal: to form a loop of continuous, relevant connections with customers before, during and after purchases. In order to deliver this effortless customer experience, however, businesses must take a concerted approach.
At Accenture Technology Labs, we suggest the answer lies in creating digital customer genomes, which we describe as the detailed digital DNA of businesses’ customers and the next generation of market and customer segmentation. Each DNA is built through a combination of traditional and non-traditional data sources, along with derived customer data that is created through advanced analytical methods. The organic derived data includes distinctive markers that businesses can apply to create targeted approaches to high-value customers and prospects.