As consumers become increasingly aware of the value of their personal data, new research from audience engagement and consented data solutions firm 3radical uncovers gaps between consumer expectations and personalized brand experiences, and then goes further to help brands understand these implications.
The firm’s 2022 Consumer Survey Report focuses on the efficacy of the experience brands are providing. They surveyed consumers in the US, UK, and Singapore immediately after the 2021 holiday period in order to capture sentiment toward their digital shopping experiences while it was still fresh in their minds.
Based on responses, the findings are stark as consumers are frustrated with irrelevant communications and impersonal offers—and are not willing to share their data if they’re not getting something of value in exchange. The bottom line is brands still need to master delivering the right message at the right time and place to the right person.
- Only 18 percent of survey respondents strongly believe they receive customized recommendations based on personal information they shared
- While 52 percent of respondents stated a sense of frustration from receiving communications and offers not relevant to them
- And 65 percent of consumers surveyed feel they actively receive irrelevant offers
- 42 percent of respondents would be less inclined to shop with brands that did not extend tailored communications
- However, 54 percent would exchange their data for tailored offers and promotions
- 84 percent prefer brands to be more open and transparent about the information they collect and how they plan to use it
- While 74 percent were comfortable sharing demographic data about age/gender, 23 percent of respondents were actively uncomfortable sharing their contact details
“Interestingly, consumers are 12.4 percent less interested in cash rewards than they were a year ago and more interested in ‘Personalized Promotions’ and ‘A More Personalized Shopping Experience’,” says Michael D. Fisher, CEO at 3radical, in a news release. “This is significant enough for brands to take note; while new customers may be brought in with discounts or rewards, retaining these customers will be all about the personalized experience.”