Posts tagged with Consumer Trust

Spotlight on data privacy: three steps to building consumer trust

Consumer concern about data privacy has shifted over the past decade.

More than ten years ago, consumers were concerned when companies such as Amazon analyzed their data to provide them with a recommended list of products they may be interested in based on their purchase habits.

Fast forwarding to today, many consumers now expect companies to mine their data through the use of analytics to provide them with relevant offers and products to improve their shopping experience.

Yet, recent data breaches have placed a spotlight on data privacy once again, moving the topic of consumer personalization versus privacy back to the forefront of the marketing conversation. 

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Privacy and personalization: a marketer's Catch-22

Coined in Joseph Heller’s classic satirical novel of the same name, 'Catch-22' is a term that refers to a situation in which a person is trapped by completely contradictory goals or circumstances.

In Heller’s book, the only way for a pilot to escape his WWII flying mission is to request psychiatric evaluation due to mental instability, and be deemed insane.

However, awareness of his own insanity is considered proof of a rational mind, thus making it impossible to escape his mission, a total and complete Catch-22.

No doubt, many marketers are feeling stuck in this sort of paradoxical situation when it comes to the competing goals of consumer privacy and personalization.

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The importance of analysing your user journey

Online marketing has rapidly matured over the last few years and we now know more about how to engage directly with customers than ever before.

It can be a somewhat cumbersome task, as you need to know where to start and where to get the most benefit out of the time you invest.

A good starting point is to focus on the user journey to see how your customers and potential customers interact with you.

Break down your online strategy into these five areas to make it easy and reach the desired results. 

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Why your best social media strategy might be not having one

Facebook and Twitter have become powerful marketing tools for many brands. But where there are tremendous opportunities, there can also be serious risks.

I’ve watched with fascination as an increasing number of companies invest in social media marketing without pausing to think through the outcomes of this approach. This post reviews four good reasons why you should pause for thought as you embark on your own social strategy.

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Social Media: Knowing "why" is much more powerful than knowing "what"

Knowing what people have done is ok. Behavioural data, as interesting as it is, is a lagging indicator. It's a bit like sitting in a car and looking out of the rear window...you can seen where you have been, but not where you're going.

Apply this to an online/social web environment and analytics (onsite and buzz monitoring) provide us with the rear window perspective.

But what if you could find out why people behave in a certain way? What their objective is; how they associate their identity with brands, their own personal values etc. This would give you a much more powerful set of information, wouldn't it? 

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Is consumer trust online misplaced? Can brands do anything to change this?

Misplaced TrustWe've all done it. In our decision making process to purchase something of fairly high value such as a holiday or fancy gadget; or when we think about a purchase that requires a long term commitment such as a mobile contract or gym membership; we ask trusted friends for their opinions and experiences.

It's human nature. We're doing our best to eliminate any risk, whether this be associated with cost or contract catches, anything really. We're after value for money and want to hear about any experiences, warts 'n' all. Based upon the information we gather from these trusted sources, we make what we feel is the best decision for ourselves.

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