About 2 in 3 consumers say they’re likely to be a loyal customer or purchase more when a brand is building personal relationships with them, according to a Movable Ink survey [download page] of respondents in the US, UK/Ireland and Canada. Almost half (46%), including 51% in the US, say that they trust brands with personalized communications more than others.
Of course, trust depends on the type of personalization – and some are considered to be more “creepy” than “cool.” Moreover, the benefits of personalization need to be weighed against privacy fears, with some adults upset with their data being used to personalize their experiences. In the Movable Ink study, consumers’ biggest concerns when sharing information about themselves relate to their data being sold to other parties or stolen. A lack of transparency about how brands use data also emerges as a key concern.
Marketers are – to some extent – addressing those worries. A recent study found 63% of CMOs saying that their company had promised not to sell customers’ information, although fewer (45%) said that they had shared privacy notices with consumers that communicated how their company would use their data.
Returning to this latest study, the results indicate that cell phone numbers and household income are the information types that consumers are least comfortable sharing in exchange for a more personalized experience, while gender and age are the types they’re most comfortable providing.
More interestingly, the survey explored other types of information that consumers might be willing to share with retailers for personalized product or service recommendations. Roughly two-thirds would be comfortable sharing satisfaction with past orders, products or services (68%), ideal price range (67%) and product categories of interest (65%), while a majority would likewise share size (63%), interests/hobbies (57%) and fit/body type (55%). By comparison, respondents express less comfort sharing their order and search history, profession, and information about daily habits.
For more, download the full study here.
About the Data: The results are based on an April survey of 3,000 consumers in the US, Canada, UK and Ireland.