Businesses could engage data-conscious consumers by demonstrating a value exchange

New Ideas in MarketingEssential news for marketers, summarised by YouGov
June 20, 2019, 6:57 AM UTC

This will require treating consumer data with sensitivity.

When marketing to data-conscious consumers, brands must be clear with consumers about why they seek their data. This can be done by demonstrating the value exchange and treating data with sensitivity.

The author recommends focusing efforts on 75% of consumers made up of “Data Unconcerned” and “Data Pragmatists”. The Data Unconcerned consumers don’t mind how their data is used. The Data Pragmatists would only part with their data in exchange for value. The remaining 25% of consumers are Data Fundamentalists who will protect their data “at all costs”.

To reach the 75% of consumers, companies can increase convenience and use customer data to remove resistance in the customer journey. Brands can generate interest and add transparency by personalising campaigns.

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