Australian consumers want to be engaged by brands through personalized experiences when they interact with them across multiple channels, according to research.
Consumers prefer to be engaged with content and incentives through email, according to the “2022 digital consumer trends index: consumer attitudes and trends in personalization, privacy, messaging, advertising and brand loyalty” report by Cheetah Digital.
The report found email trumps paid social and display advertising by 228% in Australia, 120% higher than consumers globally.
Some 63% of Australian consumers are willing to pay more to purchase from a favored brand, showing that they are loyal to brands that they can connect with, instead of which brand has the lowest price.
They are also willing to part with their personal data if brands personalized their communications, but 50% will not do so if a brand’s personalized communication does not address their needs.
In addition, more than half of Australian consumers (63%) do not trust social media platforms with their data and 69% find cookie tracking “creepy”.
“When done correctly, loyalty programs govern the value exchange between brands and consumers, and not just for a single interaction but for direct engagement over the customer lifetime. With contextually differentiated, personalized experiences, they can be the conduit for the one-to-one relationships that build customer lifetime value,” says Billy Loizou, vice president for Asia Pacific at Cheetah Digital.
“Marketers need to first create a strategy that involves getting closer to their customer. Customers are saying, ‘We’re happy to provide our data and sign up to your marketing program in exchange for offers sent directly to me that are relevant. People just don’t know what these social media platforms are doing with their data When Cambridge Analytica happened, I think a lot of people started losing trust in social platforms, so consumers are starting to want more control over their data and know how their data is being used.”