We all know that consumer data contributes to a brand’s marketing success, but according to a new report form Transactis, the correct use of data continues to open the way into more consumers’ hearts and earn their trust, loyalty, and respect.
The findings are from Transactis’ new study, titled The Two Sides of Consumer Trust, which reflects the views of more than 1,000 UK consumers. The customer insights provider reveals that, as a whole, consumers are far more likely to trust a company that has a track record in securing and using personal data efficiently.
The correct use of personal data is a guarantee for strengthening existing customer relationships, which is evident from the fact that 63% of Britons would be happy to spend more with a brand that deploys their data to target them with relevant offers and good service. Around 59% of respondents would even buy regularly from such brands, the report found.
Brands’ success in mastering consumer data management would also win them customers’ loyalty, thus creating strong selling opportunities particularly when helping to time offers appropriately. More than three in five respondents said they would not look for other deals if a brand they trust provides them with a tempting offer at the right time.
The study further reveals that 61% of consumers would avoid making purchases from a brand that sends offers which fail to recognise previous deals, meaning they wouldn’t hesitate to punish firms that don’t take advantage of the valuable insights provided and waste the data gathered.