Technology has finally advanced to the point where marketers can use real-time data in a way that is both meaningful to customers and profitable for companies.
We’ve come a long way from “People who bought this, also bought that.”
Consider the experience of a representative customer we’ll call Jane. An affluent, married mom and homeowner, Jane shops at a national clothing retailer online, in the store, and occasionally via the app. When visiting the retailer’s website in search of yoga pants, she finds style choices based on previous purchases, the purchases of customers with profiles similar to hers, and the styles of yoga pants most frequently purchased on weekends. She adds one of the offered yoga pants to her shopping cart and checks out.
Read the Full Article: The heartbeat of modern marketing: Data activation and personalization | McKinsey & Company