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Thursday, 24 October 2019 14:40

Casting a Niche Net | Getting Personal

As author and entrepreneur Seth Godin puts it: “Personalization wasn’t supposed to be a cleverly veiled way to chase prospects around the web, showing them the same spammy ad for the same lame stuff as everyone else sees. No, it is a chance to differentiate at a human scale, to use behaviour as the most important clue about what people want and more important, what they need.”

Casting A Niche Net

Welcome to the Fourth Industrial Revolution:

Trends in customer trust by Salesforce Research reinforces the notion that brands can win more business by creating personalized customer experiences — a message we’ve heard for some time now. Based on a survey polling over 6,700 individuals from more than a dozen countries including Canada, the 2018 report finds consumers are demanding greater personalization and will often disclose the kind of personal information needed to create more personalized experiences if they feel the business is being transparent about how the data is used.

“Welcome to the Fourth Industrial Revolution, an era defined by continuous technological innovations that are transforming customer expectations. As lines between digital and physical worlds blur, today’s customers demand deeply relevant, personalized experiences across devices, channels and interactions,” according to the report. “In fact, the average customer uses 10 different channels to communicate with companies. Despite this, today’s customers expect tailored engagement across all channels.”

Fifty-four percent of respondents say the marketing messages they receive aren’t as relevant as they would like them to be – suggesting that some companies drastically need to improve their personalization capabilities – while 84 percent say “being treated like a person, not a number” is very important to winning repeat business and maintaining brand loyalty. “Customers expect businesses to understand not only what they are purchasing, but why, as well as how they use products and services, and they expect it fast,” the report reads.

The majority of survey respondents say they are willing to share personal information if it is used to deliver more personalized engagements, and expect that personalization to be coupled with transparency. What’s more, 51 percent of respondents across all age groups say they are comfortable with companies “applying relevant information about me in exchange for personalized engagement,” as compared to 64 percent of millennials and Gen Zers.  

What’s interesting is 86 percent of total respondents – and 91 percent of millennials and Gen Zers – say they are more likely to trust companies with their personal information when they explain how it is being used to deliver a better experience for them, suggesting that strict security and privacy protocols alone may not be enough to dispel fears of data misuse and breaches.

“As time goes on, businesses will contend with a more savvy customer base that expects greater personalization, along with respect for the data they swap for it,” the report concludes.

Source: PrintAction / Written By: Alyssa Dalton