Sumary of Consumers seek more personalization but are concerned about privacy:
- Many are already responding to these shifts in consumer preferences, regulations and technology, and 43% of business leaders are adopting third-party data because it offers greater privacy to customers.
- Paradoxically, only 40% of consumers say they trust brands to use their data with It’s clear that delivering personalized experiences requires personal data, and information collected directly from customers with their consent (primary data) is good for 63% of consumers since that brands use their own data and not data acquired or rented to third parties.
- Half of companies surveyed by Twilio say recent changes to data privacy regulations have made personalization more difficult.
- Additionally, 49% will become repeat buyers if personalization is offered.
- Course, lack of accurate data and organizational impediments.
- Consumers expect some personalization in every interaction with brands, but don’t trust them to keep their personal data safe and use it with new data from Twilio’s third annual State of Personalization Report 22 annual report, 62% of consumers expect some personalization and will stop buying a brand if their experience is not personalized.