GAINING CUSTOMER CONFIDENCE. Data Hygiene Insight

Transcription

1 GAINING CUSTOMER CONFIDENCE

2 COVERING A tiny bit about REaD Group A changing world Gaining customer confidence Gaining customer consent

3 MY HYPOTHESIS FOR TODAY Theses are changing times population, trading environment, customer expectations. To allow us to build long term relationships with our customers we need to convince them to share key information with us. We then need to get consent to use that information to communicate with them. Most people want that to happen with the brands they like and trust. As with marketing, getting consent should not be a one size fits all approach.

4 MY SOURCES REaD Group Consumer Research on Loyalty (2017) DMA Customer Engagement Research retail (2016) fast.map online survey on Consent (May 2015)

5 REaD Group

6

7 Why We Exist With marketing continually evolving to become more and more customer centric, there is an increasing need to understand the individual and their needs. At REaD Group we believe that the more you understand about an individual, their relationship with you, their potential value and their ongoing requirements then the better your communications will be both inbound and outbound. Customers and prospects expect to be treated like people, and we help our clients understand who those people are.

8 CHANGING TIMES

9 Ethnicity of non-uk born population Living in England & Wales A CHANGING 5.3% 3.2% White POPULATION 13.2% 45.8% 32.6% Asian/ Asian British Black/ African/ Caribbean/ Black British Other ethnic group Mixed/ Mulitple enthnice group

10 DIGITISED RETAIL 85% of consumers want a unified experience across both BUT around 30% are getting one

11 A LEVEL OF (SERVICE) EXPECTATION

12 WHAT MAKES YOU TRUST A RETAILER (by gender) High quality customer service 62% 57% 67% Previous good service/ product Recommendations from friends/ family Online reviews Talking to in-store staff 37% 32% 41% 28% 26% 30% 27% 26% 29% 61% 57% 65%

13 BUILDING ENGAGEMENT

14 HOW CONSUMERS TALK ABOUT ENGAGEMENT I prefer to make purchases with the same companies

15 55% I tend to use the same brands/shops/sites rather than looking for alternatives

16 76% I am willing to spend time researching products in order to get the best possible value

17 CATEGORY IMPACT: Stick to favourite brands 37% 36% 16% 14% BEAUTY CLOTHING ELECTRONICS FURNITURE

18 CATEGORY IMPACT: Search for best deals 46% 41% 24% 21% FURNITURE ELECTRONICS CLOTHING BEAUTY

19 THE LOYALTY SPECTRUM 9% 23% Active loyal Active disloyal Habitual loyal Situation loyal 27% 40%

20 ENGAGEMENT BEFORE PURCHASE: What are consumers after? 46% 46% 46% 46% 46% TIME SENSITIVE DISCOUNTS TAILORED OFFERS TAILORED PRODUCT IDEAS ADVICE & TIPS LOCATION BASED DISCOUNTS

21 NEW RULES OF ENGAGEMENT: RETAIL 1 Be Relevant Be Rewarding Be Responsive Be Ready

22 Data Hygiene Insight DATA SHARING

23 EDUCTATING CONSUMERS Viewing personal information as an asset 52% %

24 RESEARCH 2017 Q How likely are you to trust the following sectors with your personal data? FINANCIAL SERVICES/ BANKING 44% Government bodies 39% Retail Utilities Insurance Charity Travel/ Leisure 24% 26% 34.5% 33% 32%

25 RESEARCH 2017 Q Which type of retailer do you most trust with your personal customer details? 42% SUPERMARKETS 35% High Street Chains 31% Independent retailers 30% Superstores (non-grocery) 29% 20% 18% Online retailers Catalogue / Direct mail retailers Voucher / discount sites

26 RESEARCH Q Which type of retailer do you most trust with your personal customer details? SUPERMARKETS High Street Chains Independent retailers Superstores (non-grocery) Online retailers Catalogue / Direct mail retailers Voucher / discount sites

27 RESEARCH 2017 Q Which of these retailers do you trust with personal data? 50% 39% 33% 33% 32% 28% 27% 24% 21% 21% AMAZON TESCO SAINSBURY'S BOOTS MARKS & SPENCER JOHN/ WAITROSE ARGOS ASDA CO-OP MORRISONS

28 Incentives For Data Exchange 35% 34% 27% 14% CASH REWARD FREEBIES DISCOUNTS TAILORED PRODUCT 11% TAILORED TIPS

29 Q How do you prefer retailers to tell you about new products, offers, promotions? - Currently buy from (by year) By On their website Television advert By direct mail Social media SMS 34% 28% 31% 25% 22% 28% 21% 25% 27% 16% 7% 7% 3% % 45% 47%

30 By 48% 46% 50% 53% 50% 52% Q How do you prefer retailers to tell you about new products, offers, promotions? - Currently buy from (by age) On their website Television advert By direct mail Social media SMS 52% 46% 37% 30% 25% 15% 26% 26% 32% 27% 25% 14% 16% 20% 22% 20% 23% 24% 38% 30% 18% 9% 3% 11% 14% 8% 5% 5% 1%

31 Reasons for sharing address with brands I can get items/ products for a lower price 54% I get better loyalty rewards 52% I get special offers/ deals tailored to me It saves me time I get improved service I receive tailored recommendations I receive adverts of interest/ relevance 37% 50% 48% 46% 45%

32 EDUCTATING CONSUMERS Data exchange: Who benefits most? 7% Consumers 80% Businesses

33 EDUCATED BRANDS

34 Data Hygiene Insight GETTING CONSENT

35 How often do you give consent? Q When asked to tick a box allowing a company to market their goods and services to you, how often would you say that you agree? 51% BETWEEN 0% AND 20% 14% BETWEEN 20% AND 40% 18% BETWEEN 40% AND 60% 12% BETWEEN 60% AND 80% 5% BETWEEN 80% AND 100%

36 How often do you give consent? Q When asked to tick a box allowing a company to market their goods and services to you, how often would you say that you agree? 50% 52% BETWEEN 0% AND 20% 11% 16% BETWEEN 20% AND 40% 18% 18% BETWEEN 40% AND 60% 13% 11% BETWEEN 60% AND 80% 8% 3% BETWEEN 80% AND 100% Male Female

37 How often do you give consent? Q When asked to tick a box allowing a company to market their goods and services to you, how often would you say that you agree? 70% 51% 27% BETWEEN 0% AND 20% 16% 12% 13% BETWEEN 20% AND 40% 25% 19% 11% BETWEEN 40% AND 60% 21% 13% BETWEEN 60% AND 80% 11% 5% 3% 2% BETWEEN 80% AND 100%

38 What motivates you to give consent? Q What motivates you to provide consent? 35% 34% 33% 31% 27% 26% 22% 18% 18% 17% 12% 10% 10% 9%

39 What motivates you to give consent? Q What motivates you to provide consent? 33% 37% 36% 31% 36% 37% 29% 24% 27% 26% 29% 23% 25% 19% 19% 18% 18% 17% 18% Male Female 16% 16% 11% 12% 11% 8% 9% 7% 6%

40 What motivates you to give consent? Q What motivates you to provide consent? 32% 36% 37% 21% 43% 36% 34% 35% 28% 41% 31% 28% 29% 25% 19% 30% 25% 26% 24% 23% 16% 20% 21% 14% 18% 19% 18% 16% 15% 19% 10% 7% 12% 12% 13% 12% 11% 11% 12% 12% 7% 5%

41 PRIVACY BY DESIGN

42 MY HYPOTHESIS FOR TODAY Theses are changing times population, trading environment, customer expectations. To allow us to build long term relationships with our customers we need to convince them to share key information with us. We then need to get consent to use that information to communicate with them. Most people want that to happen with the brands they like and trust. As with marketing, getting consent should not be a one size fits all approach.

43 THANK YOU 1 NEWHAMS ROW BERMONDSEY STREET LONDON SE1 3UZ enquiries@readgroup.co.uk REaD Group Ltd REaD_Group