Today, we're living in a hyper-connected digital world, where consumers have countless options to choose from, and numerous distractions during the purchasing journey. As retail bankruptcies continue to increase by 24% year-over-year, it's important for marketers to figure out how they can break through the chaos, saturation, and noise, and engage their customers in the right places, at the right times.
If we look at some of the industry leaders in customer experience, such as Amazon and Netflix, we begin to see that learning from behavioral data is a crucial element on the path to success. With behavioral data, it's possible to personalize thecustomer experience and naturallyenhance engagement. For instance, 35% of the sales Amazon makes come from their ability to suggest products based on previous purchases.