Data is, arguably, the single most important factor behind the success of modern-day brands. Contagious writer Sophia Epstein talked about fresh impetus and perspectives on how you can use dynamic information, focusing on genomic and product data.
She explained that genomic data informs personalisation based on DNA, which in turn opens up doors for different business opportunities to boost customer engagement.
“Instead of personalising products based on your name or favourite colour, they can be personalised to the tiniest detail in your DNA, imbuing a whole new level of relevance,” Epstein said.
Dynamic data can track how people are using products without getting them to fill in a survey, for example, smart clothing can track user behaviour, such as when an item is being worn and with what. This information can be collected in a way that doesn’t threaten personal security, but is invaluable for brands in terms of creative and intelligent improvements.
Some companies are going as far as allowing this data to inform recommendations for products that don’t even exist yet. However, it’s all worthless is people don’t trust your business: “if a consumer doesn’t trust a brand with their business, they won’t trust them with their blood type”.
However, Epstein concluded that if a brand can build trust, they can “go straight down to the lab and start playing with data”.