The Sailthru and Coresight research report reveals that 80% of consumers

0

Sailthru, a brand of CM Group and the leading provider of personalized marketing automation technologies for retailers and publishers, today announced the results of its retailer and consumer survey with Coresight Research, which reveals the critical importance of personalization at every touchpoint throughout the retail experience. The study was conducted as part of Sailthru’s Retail Personalization Index, a comprehensive analysis of leading retailers’ omnichannel and personalization capabilities, which launched on March 30. As customer engagement becomes even harder to capture in today’s marketplace, new findings reinforce the need to implement a data-driven, strategic value exchange that not only improves personalization and the overall experience, but also the competitive advantage of retailers.

Marketing Technology News: NTT DATA Research reveals that leaders are being challenged on how to leverage technology to meet…

The results indicate that consumers will share data to get more from retailers – online and in-store – creating immediate and strategic opportunities for improved value exchange:

  • 80% of consumers are willing to share personal data to receive loyalty program benefits.
  • 70% of consumers are willing to share their data to receive discounts and special offers.
  • 71% of consumers will shop more often with brands or retailers that personalize their communications.

“Consumers’ willingness to share data in exchange for value should serve as a wake-up call for retailers to develop more engaging marketing and data collection strategies. With new policies limiting current data collection methods data, now is the time for retailers to shift to zero- and first-party-focused strategies that improve outcomes, such as machine learning, predictive modeling, and other advanced AI-based methodologies,” Sailthru CEO Jason Grunberg said, “If retailers step up to meet consumer expectations for personalized content and experiences, and treat personalization as a strategic priority, they will see immediate benefits that will have long-term effects.”

Marketers need to keep improving their personalization capabilities. Although nearly all (98%) are currently using personalized tactics, including predictive personalization and email send time personalization, marketers still need to elevate their strategies in order to impress and convince customers. consumers. Aligning personalization efforts across key channels, including website and email, is now a major issue and an essential part of future strategy:

  • Personalization performance reality: While 71% of retailers believe they excel at personalizing marketing, only 34% of consumers agree.
  • Email remains the primary channel: Retailers surveyed cite email as the fourth most important personalization channel, while consumers rank email second.
  • Social platforms offer less impact: 23% of retailers and brands surveyed see social media as the primary channel for personalization, compared to just 11% of consumers.
  • Value of Underutilized Touchpoints: Providing personalization in areas that are rated poorly for customer experience, such as shipping and fulfillment, could deliver measurable improvement for retailers.

The study also revealed a lack of consumer knowledge about data privacy. Although 64% of consumers said they are concerned about data privacy, many are not fully aware of the various data privacy laws and protections; for example, only 39% are aware of Apple’s email privacy protection. With this juxtaposition, brands can educate consumers about their data privacy rights. and deliver the value needed to build loyalty and ensure consumers are more willing to share data for even better, personalized experiences.

Marketing Technology News: DecentWorld to Launch Next-Gen Virtual Real Estate Collections

Share.

Comments are closed.