The Delivering Value in the Data Exchange report explores how smarter data collection, management and use delivers greater benefits for both the customer and the brand. The report, produced in partnership with Acxiom, is based on interviews with senior executives working for brands, as well as an online survey of 1,000 UK consumers.
Crucially, smart data is able to build a relationship between organisation and customer. When data is smart, it helps the customer realise how providing information to the organisation will ultimately improve the customer’s own experience.
There is a tendency to believe customers are distrustful beasts, forcing brands into a guessing game while keeping all their cards close to their chests lest vital information slip out that leads to a deluge of spam or the sudden emptying of all their accounts. In reality, customers are largely willing to share information if they are likely to get value in return.
What you’ll learn from this research
- What are the current trends in marketing with data?
- What data do customers willingly give and what are the best channels and strategies to ask for it?
- Who can see and use this data? How can you make the most of resources while remaining compliant?
- What are the pros and cons of using customer data?
- What challenges have brands faced and what are the solutions they require/propose in the future?
Key findings from the report
- Only one in ten respondents to Econsultancy’s Consumer Personal Data Survey said it was never worthwhile sharing personal information.
- Three in five consumers find it quite easy to provide companies with their information and a further 25% stated it was very easy to do so.
- However, only 6% of consumers surveyed indicated that they had ‘a great deal of trust’ in companies to whom they provided data.
Who should read this report?
This report is aimed and brands and organisations who want to turn the information that their customers are providing into smart marketing.
It contains trends and best practice advice to help organisations engage customers through content and experience, demonstrate that the brand is using their data appropriately and effectively, and using that data to not just to enhance the marketing, but the product itself.