Customer insights and hyper-personalization are the holy grails of brands that are looking to differentiate their new products and service offering. However, the ecosystem that worked until now in terms of marketing and collection of insights is quickly changing.
Let’s put some stats behind this claim….
69% of consumers surveyed disliked marketing campaigns that are not targeted or personalized to them. The recent marketing campaign push back against #Target, #BudLight and #NorthFace are vivid examples of how important the right #trusted and ethical personalization of marketing should be.
97% of consumers don't know what corporations are doing with their data.
80% want more control of personal data.
One can conclude that these statistics are conflicting with each other as it relates to how to obtain more rather than less insights from consumers. On one hand, consumers feel violated as data brokers and cookies constantly monitor our behavior in an invasive and malicious manner, while on the other hand, regulations are moving towards giving consumers a lot more control and transparency of their data. Given that static, mistrusting relationship, consumers will default to sharing less insights (96% of all Apple users have blocked one or all their application tracking on their devices).
So, traditional customer reach (emails) and research methods (cookies and market research) are rapidly changing and might completely disappear from privacy consciousness and AI fakes do not help the Trust factor for brands. Thus, linear business model based organizations that produce a product and ship it through their channels are quickly being disintermediated from their customers as they lack firsthand customer feedback loop (zero-party Data) at the point of touch.
A new, trusted, and ethical client engagement model needs to become the only way to communicate and offer personalized and highly tailored services to consumers. We call it intent-based marketing, or permission-based marketing. Zero-party customer engagement platforms attempt to interact with clients directly, which is a great idea, but the notion of #Trust in this transaction is equally important. To be able to operate in a tight, privacy regulated environment, brands need to think about an additional approach where control of data is delegated back to the consumer and all decisions about using the service are done through the consumer’s own customized and personalized control. This includes not only opting into or out of communications, but controlling the time a customer is willing to share their data to use the service. This model allows organizations to make new services more attractive and if customers do opt out of marketing communications, regulators will be assured that consumers do have legitimate interests in using the new products.
One Creation is pioneering Intent Based Marketing. Our Embedded Privacy solutions empower brands through an integrated, zero party client engagement platform that uses #Trust and the exchange of #Value to provide highly personalized goods and services.