A recent study conducted by YouGov on behalf of customer experience company 7, reveals consumer willingness to share data with companies is tied directly to their desire to save money or resolve customer service issues faster. Nearly half (43 percent) of the more than 1,000 consumers surveyed agreed that they would exchange personal data with companies to save money through personalized promotions, discounts or deals, followed by 39 percent looking for speedier issue resolution. Off-target messages and privacy concerns proved to be the biggest deterrents for consumers receiving personalized marketing messages.
Cost-savings are universally seen across all age groups as the top benefit to sharing personal data – information such as e-mail, age, location, interests, previous purchases, etc. – with millennials’ willingness to share data for deals (49 percent) slightly outranking GenXers (44 percent) and baby boomers (38 percent).
Relevance Plays a Big Role in Consumers’ Appreciation or Rejection of Personalized Messages
According to the survey, relevancy is the primary reason consumers embrace personalized marketing messages (26 percent). But off-target messages irritate consumers, with a similar percentage of respondents stating that irrelevancy was on par with invasion of privacy as a major cause of annoyance. Twenty-nine percent said irrelevant messages were the leading reason they were bothered by personalized messages. Slightly more than that (32 percent) cited "it felt like an invasion of privacy" as the top reason they disliked a personalized message. Privacy concerns ranked high among consumers, with 28 percent stating, "I don’t like it when companies have my information when I don’t explicitly provide it" when asked about their overall feeling towards companies using personalized data.
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Published: Monday, April 10, 2017
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