As we barrel toward a
future where personalization extends to our wearable technology and our home
appliances, where our fridge might talk to the grocery store or the laundry
detergent supply gets replenished automatically, there's always that nagging
chatter about consumers who are unwilling to share personal data. As marketers,
that population can seem like a stubborn, self-quarantined no-man's-land of
But study after study
has shown that privacy holdouts aren't wearing aluminum foil hats and passing notes on parchment. They’re not even untouchable; they're modern shoppers after all. They’re after the same personalized shopping experiences that everyone else is getting. They might be wary, but they're still more than willing. Of those that expressed concern that their data was being tracked, 93 percent of consumers acknowledged that sharing their personal data was necessary to receive customized offers and interactions with a brand, and in fact, that was preferable.
That means if you're not talking to your customer, sorting her data, offering her ideas based on prior purchases, remembering her birthday and contacting her through preferred channels, but your competitor is - you've lost her, even despite her initial hesitations.
Customers, even the cautious ones, are looking for companies that can engage
them because that personalized experience is vastly better than an anonymous,
cookie-cutter transaction. Moreover, with preference management, you have the
tools to both reach out and reassure customers on all comfort levels.
Preference management, the active collection, maintenance and distribution of unique
consumer characteristics, such as product interest, communication channel
preference and frequency of communication is not only the first step to
learning more about your consumers, but the only way to create the experience
they expect, whether they like to admit it or not.
Eric V. Holtzclaw is Chief Strategist of PossibleNOW. He's a researcher, writer, serial entrepreneur and challenger-of-conventional wisdom. His book with Wiley Publishing on consumer behavior - Laddering: Unlocking the Potential of Consumer Behavior - hit bookstores last summer. Eric helps strategically guide companies with the implementation of enterprise-wide preference management solutions.
Labels: active collection, communication channel, modern shoppers, personal data, personalization, personalized experience, preference management, wearable technology