It’s 8 AM. Do you know where your customers are?
by Chuck Moxley
Did you know that Amazon’s market value dwarfs the value of Walmart, Target, Macys, Best Buy, Kohl's, Nordstrom, JC Penney and Sears combined? In fact, Amazon was more than $50 billion larger than these eight venerable retailers combined at the end of 2016, and in February of 2018 had grown to 2.5X the size of Walmartdespite ringing up only one-third the revenue!
Clearly Amazon has demonstrated the extreme value created by operating a truly customer-obsessed business model. Let’s face it, Amazon delivers a personalized customer experience that continues to set the bar not just for all retailers, but all brands—even those that sell to businesses and not consumers.
This personalized experience is driven by the massive amount of data, touchpoints and interactions Amazon has with their customers. At the heart of this experience lies a Connected Identity Map that is unparalleled, informed by hundreds or thousands of data points and sources for every single customer based on what you are buying both via their website and their app, what questions you are asking Alexa, what songs you add to your playlist in Amazon Music, what you watch on your Fire TV stick, what books you read on your Kindle, which Amazon Dash Buttons you are using, what you search for on Amazon, the product reviews you post and more.
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