Konnecto uses data science to replace traditional sales funnel

by | Jul 26, 2022 | Technology

Join executives from July 26-28 for Transform’s AI & Edge Week. Hear from top leaders discuss topics surrounding AL/ML technology, conversational AI, IVA, NLP, Edge, and more. Reserve your free pass now!

It would be an understatement to say that consumer attitudes and behaviors have been forever transformed by COVID-19. A staggering 67% of people say their online spending has increased since the start of the pandemic. There were also 900 million more online consumers in 2021 than there were in 2020, representing a nearly 4.5% year-over-year rise.

But, as marketers look toward a post-pandemic future, one question that remains is — how can brands keep up with the ever-changing nature of the customer journey?

Differentiation in the marketplace

In addition to the pandemic driving more customers online — which upended the traditional sales funnel — recent changes in privacy regulations in both the EU and U.S., have shifted how brands track their online customers. This has created a market for companies like Konnecto, a consumer journey analytics platform that uses data science to track customer journeys, rather than via third-party cookies. 

“From telemedicine to financial services, consumer experiences that used to take place offline are now taking place online,” Konnecto CEO and cofounder, Erez Nahom, told VentureBeat. “And because more customers are searching online, on social media and various other places to get answers to their questions, brands don’t really have any idea at which point in the journey the customer decided to leave and choose their competitor.”

To avoid the guessing game, brands are leveraging customer intelligence solutions to understand the market dynamics and take proactive measures. To meet rising customer expectations and maintain customer loyalty, these tools can help businesses identify the most efficient ways to interface and interact with their customers.

But instead of piecing together data and metrics from disparate platforms, Nahom claims K …

Article Attribution | Read More at Article Source

Share This