It's fair to say that today's modern consumers are aware that a bit of information goes a long way. By sharing simple preferences with companies, a customer's experiences can be vastly improved with recommendations, preferred communications and ideal contact methods. That means not only one-off experiences (an in-store errand, a single online shopping bag, a customer service call), but entire lifetime relationships can be enhanced and personalized.
A Janrain survey found that 57 percent of consumers are happy to provide preference information in acknowledgment that their personalized experience will be superior to an anonymous one. But the catch is in casting a wider net: targeting those customers who avoid sharing preferences because they don't understand what happens next.
That same study found that if a business explained how it was using personal information to improve consumers' online experiences, then 77 percent of customers would trust the company more. From 57 percent to 77 percent and all you have to do is remind the customer that you have both the functionality and responsibility to protect their information.
When otherwise engaged or loyal consumers stop short of sharing their unique consumer characteristics, they lose out. Preference management, the active collection, maintenance and distribution of unique consumer characteristics, such as product interest, communication channel preference and frequency of communication, is the framework for creating customer experiences that build loyal, lasting relationships. And like any relationship, it starts with trust.
If, when you're asking for preferences from your customers, you aren't also reminding them how you're using and protecting their information, then you're not getting the big win. Make sure you're reaching not only the quick-to-share customers but the ones who need that additional clarification.
Eric Tejeda is the Director of Product Marketing for PossibleNOW and CompliancePoint. Eric supports the organization’s growth objectives by productizing and launching innovative new products and services that fill critical needs in the marketplace.
With 25 years of experience, Eric firmly believes that permission-based marketing and preference management is a mega trend and the path to success for marketers today.
Labels: active collection, frequency of communication, personalized experience, preference management, preferences, preferred communications, product interest, unique consumer characteristics