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How to use first-party data and machine learning to drive revenue in the subscription economy

Digiday 02 Dec 2019 11:16

DTC brands like Dollar Shave Club, Blue Apron and Birchbox, and media brands like Netflix, Spotify and America’s Test Kitchen are all part of a growing subscription economy. It’s such a booming market that retail giants such as Target, Walmart and Amazon are also adopting subscription business models.

Despite offering vastly different products and services, all of these brands have one thing in common – they’ve built a first-party data asset that puts the customer at the center of everything they do. And they use it to deliver bespoke experiences that benefit both the business and the customer.

Accessible first-party data is the key to success 
Successful subscription businesses make sure their marketing teams, and their data science and analytics teams, are all operating from the same source of customer data truth – a single source of customer or first-party data that multiple teams and their technologies are leveraging, as opposed to relying on different versions of the data due to disparate sources, channels and technologies in your marketing and technology ecosystem.

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WEHCO MediaEric GilreathBirchboxNetflixSpotify