Trends Report

Brief: Data From The Digital Self Is Powering New Competition For Customers

Firms Should Avoid Three Errors And Embrace Three Strategies To Use Digital Self To Win, Serve, And Retain Customers

August 15th, 2014
Frank Gillett, null
Frank Gillett
Michael Yamnitsky, null
Michael Yamnitsky
With contributors:
Pascal Matzke , Ellen Carney , Nate Fleming

Summary

CIOs and their CMO partners face a business landscape of new players and competitors using new forms of data about customers to change how companies win, serve, and retain customers. These new forms of data come from the digital self: the data by and about a customer that is stored in dozens of online services and customer accounts. This report describes the ways in which digital-self data is being used by companies to disrupt and transform customer relationships. We list three classic mistakes companies typically make in trying to imitate the digital platforms and startups, and three key opportunities that companies should focus on to protect and extend their core product offerings using digital-self data. CIOs need to collaborate with CMOs on several fronts to integrate the evolving sets of digital-self data.

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