Trust As The Foundation For A Customer Relationship
There is a growing need for customized customer experiences. At the same time, the rules on processing personal data have become stricter, and customers are more critical when it comes to their privacy. While there may tension around data processing and privacy, this situation also offers great opportunities for brands that successfully deal with this.
The figures are as plain as day. According to Accenture research, two-thirds of consumers are more likely to make a purchase when offers are personally relevant or the experience is tailored to their needs and previous purchases. Customers want an individual customer experience and switch seamlessly between channels, devices, and touchpoints.
This personalized customer experience requires data, which is why a lot of organizations have been busy collecting as much personal data as possible over the past few decades. The frantic attempts to collect as much data as possible by so many companies has resulted in a backlash from customers. Customers are increasingly aware of their privacy. They want companies to handle their data properly, prevent them from collecting more data than is necessary, and retain full control over their own data. Data is not just shared with everyone.