consumers want more personalization but are concerned about privacy

Consumers want more personalization, but are concerned about privacy

Sumary of Consumers want more personalization, but are concerned about privacy:

  • Paradoxically, only 40% of consumers say they trust brands to use their data responsibly and keep it safe.
  • Technologies like customer data platforms give businesses the tools they need to stay compliant while managing source data for personalization.
  • Half of the companies surveyed by Twilio say that recent changes in data privacy regulations have made personalization more difficult.
  • What’s more, 49% will become repeat buyers if customization is offered.
  • The report shows that a lack of trust is increasingly affecting consumer purchasing decisions, with 60% saying trustworthiness and transparency are the most important traits of a brand, up from 55% in 2021 Of course, delivering personalized experiences requires personal data, and information collected directly from customers with their consent (first party data) is fine for 63% of consumers as long as brands use their own data and not purchased data or rented to third parties.
  • Of course, the lack of precise data and organizational impediments.
  • Customers expect some personalization in every interaction with brands, but they don’t trust brands to keep their personal data safe and use it responsibly.

Want to know more click here go to news source.