In this McKinsey Insights article, Gadi Benmark and Maher Masri analyze how to build a meaningful picture of the online shopper. Cracking what these authors call the shopper genome requires converting the vast amount of data regarding consumer behavior and desires into meaningful insights.
Until recently, technology barriers were the major challenge to combining insights across different elements of the organization. As these barriers start to fall, more e-commerce companies and their technology providers have an opportunity to develop a coherent, comprehensive profile of their digital customers and effectively engage them across the seven primary digital touchpoints: Internet display advertising, email, mobile advertising, search, shopping engines, social media, and video.
The authors report that the rewards of building a comprehensive view of the online shopper are substantial. They have found that companies that are able to build this profile to inform the way they interact with customers can achieve revenue increases of 10 to 20 percent.
Cracking the shopper genome will enable the company to build a comprehensive customer engagement program and to deliver on the customer’s increasingly high expectations of the digital shopping experience.
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