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Have you seen The Customer-Focused Marketing Playbook?

This comprehensive and practical guide to the latest ideas in customer-focused marketing hands you over 200 packed pages of strategy, best practices, do's and don'ts, practical know-how, facts and figures, and ideas to optimise your marketing strategy, boost sales, market share, increase ROI and profit.

Get it on Amazon (Kindle/Print)
 

Trust is still key to the loyalty of anxious customers

Three out of four will share data in return for benefits

While consumers are enthusiastically embracing new technology, they are more anxious than ever and more aware of the risks and benefits of handing over their data to businesses, including social media platforms, according to a study by KPMG.

However, they will gladly trade this information for more personalization, a better customer experience or a good deal, according to KPMG's Global Consumer Insights program and the 2018 "Me, my life, my wallet" report based upon a survey of 25,000 global consumers.

The research shows that almost half (47%) of consumers feel more anxious than last year, as well as five years ago. Millennial consumers are more anxious (51%), compared to Baby Boomers (36%).

The majority of consumers are willing to provide businesses with data but half (51%) are anxious about identity theft, and the majority (72%) say they don't trust anyone with their social media data.

Despite increasing anxiety and recent data scandals, three-quarters (75%) of consumers are still willing to provide businesses with their data, according to the study.

"Consumers are anxious, with younger generations feeling it the most," said Julio J. Hernandez, principal, KPMG's head of global Customer Advisory and U.S. Customer Advisory lead. "They like new technology, but are concerned about handing over personal data and what that could mean for their privacy and security. Our research demonstrates that organizations should be aware of the heightened awareness people have about the value of their data; they want to feel that they are in control at every stage of the business relationship."

Anxiety and Trade-Offs over Data
Younger consumers say they are just as concerned about identify fraud; however, they are more likely to see the benefits of sharing data. Millennial consumers are more likely (21%) than their Baby Boomer counterparts (5%) to trade data for better customer experience and personalization. And 71% of those polled said they would trade their personal information for better personalization, security or bargains.

Four out of 10 U.S. consumers say engaging in social media presence is important among the brands they frequently purchase from and 58% say they will likely view those offering discounts or deals.

"Businesses all too often view the exchange of data as a one-way street, expecting consumers to give away data with little benefit," said Colleen Drummond, partner, KPMG in the U.S. and KPMG Innovation Lab lead. "However, as our reliance on technology grows, we're becoming more and more aware of the data we create and are starting to see it as a valuable currency that businesses need to earn if they want to earn our cash. Those businesses that fail to shore up consumer trust in the way they hold, protect and use data will lose out in the long-run, and consumers will vote with their feet."

The full 'Me, my life, my wallet' report has been made available on KPMG's web site, here: https://assets.kpmg.com


Sources: KPMG /
The Marketing Factbook.
Copyright © 2018 - 2025 The Marketing Factbook.

    Categorised as:

  • Customer Experience
  • Customer Loyalty
  • Knowing The Customer
  • Marketing Know-How
  • Marketing Technology

Have you seen The Customer-Focused Marketing Playbook?

This comprehensive and practical guide to the latest ideas in customer-focused marketing hands you over 200 packed pages of strategy, best practices, do's and don'ts, practical know-how, facts and figures, and ideas to optimise your marketing strategy, boost sales, market share, increase ROI and profit.

Learn the insider's tricks and techniques to turn every customers into a 'super spreader' for your brand. It's better than free advertising. Once you start this ball rolling, your brand can grow rapidly through word-of-mouth, advocacy, influencers, and customer loyalty. Super-charge your company's marketing strategy, build up your market share, and make more sales through repeat business and customer loyalty.

Find out what works - and what doesn't - and who's succeeded, and how they did it. See how the world's top brands keep their competitive edge against all odds.

The Customer-Focused Marketing Playbook walks you step-by-step through the techniques, metrics, reporting, analysis, marketing models, technologies, tools and innovations for successful marketing strategies - both traditional and emerging - with expert guidance from thought leaders in every major market. Find out the best ways to gather, analyse, and act on customer data to increase profitability, build your brand, empower your customers, beat the competition, reduce churn, and increase customer profitability. This is a marketing book you simply can't afford to be without.

This book aims to hand you all the facts, figures and research data you need for the best decisions for a more profitable, more engaging marketing strategy. It also highlights all the facts, forecasts and trends identified by our experts from the global Marketing Factbook's vast database of market data, news, studies, research and articles, and presents you with an invaluable library of ideas and practical support you can call upon at will.

With The Customer-Focused Marketing Playbook at your side, you'll have instant access to a true goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, research and market data, plus all the supporting arguments you need to build a solid, profitable marketing strategy.

Get it on Amazon (Kindle/Print)
 
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