Secure The Deal

Consumer data has become an extremely valuable commodity for businesses – unlocking a web of possibilities for customer targeting, market research, product enhancement and so much more. However, consumers are becoming increasingly aware (and concerned) about the privacy and security risks associated with data collection – as they should be. What does this mean for businesses hoping to harvest consumer data? You must first work to earn their trust, and present them with a worthy trade-off.

65% of consumers ranked "misuse of personal data" as the top reason they would lose trust in a brand.

HOW CAN YOU ESTABLISH TRUST WITH CONSUMERS?

BE TRANSPARENT

Transparency is the key to trust in any relationship – and that includes brand-to-consumer. Your consumers need a reason to want to share data with you. It’s important to be upfront about what data is needed, and why. Beyond explaining why it’s necessary, tell them how they will benefit from it, and what steps you’ve taken to ensure their personal data is protected. They’re more likely to authorize consent if you’re explicit and to-the-point, rather than if you bombard them with a request form full of legal jargon. In the case of privacy and security, asking permission is better than asking for forgiveness.

39% of consumers say the most important thing orgnizations can do to build trust regarding their data is provide clear information on how it's being used.

KNOW YOUR AUDIENCE

Who is your target audience? Where do they generally lie on the spectrum of privacy and security concern and consent hesitancy? It’s important to tailor your message appropriately. Too little explanation or lack of consent for an older audience might give off the impression that you’re taking advantage of their lack of digital literacy.

GIVE THEM CONTROL

People want leverage on how their data is being used. Building a consumer-mediated data exchange lets consumers manage their personal data and control how that information is used by your organization – giving them both authority and peace of mind. Prioritize consent from your consumers before collecting any data, and make information preferences and opt-ins/outs simple and straightforward.

81% of consumers believe that the way a company treats their personal data is indicative of the way it views them as a customer.

DELIVER VALUE

Consumers are looking for a return that benefits them as much as, or if not, more, than it benefits you. Make sure you’re delivering on the value they demand. Is it convenience? Is it a more streamlined process? Is it access to free content or insights? Is it for a better, more personalized app experience? Is it to advance research for the greater good? Pinpoint the biggest value(s) you’re able to give consumers in exchange for their personal data, and tell them exactly what they’re getting out of the bargain. They’ll be more willing to share data with you when they know the full value they’ll receive from you.

KNOW WHEN TO (AND NOT TO) USE THE DATA

It’s important to find the right balance between value and privacy concerns. Don’t overstep by collecting more data from consumers than you need, which might break trust. Figure out exactly what data you require to drive value for your business and your consumers. This will also help streamline your marketing strategy. 

If you’re working with an agency, like FIFTEEN, we can help you to decipher which data is most pertinent to your marketing strategy while sorting through the logistical and legal complexities of capturing consumer data and making sure that it’s secure – giving you the confidence to support your principle. Then we’ll communicate integrity and transparency in your data collection process, and rationale, to your consumers from the get-go using approachable, comprehensive language that earns you their trust. Once you’ve collected the data, we’ll help you digest the information and find new ways to strengthen your products, services or efficiencies.

Leveraging User Data

Better For Them, Better For Your Company

You’ve collected user data with respect, transparency, and promises of a mutually beneficial partnership. In today’s tech-driven world, you’ve struck gold — if you can put it to work for you. Here are some actions your business can take to create personalized experiences, enhance your products, and drive revenue growth.

understanding user behavior

Data reveals a lot about your customers’ preferences and habits. Utilize analytics to identify patterns, pain points and areas of improvement. This understanding will serve as a foundation for creating more personalized and relevant experiences.

segmentation that drives personalization

Divide your user base into segments based on demographics, behaviors or preferences — and then tailor messaging, recommendations and communication to meet their specific needs.

a/b testing for continuous optimization

Experiment with different variations of your product, website layout or marketing campaigns to gauge user responses. Measure the impact on key metrics and optimize accordingly.

cross-selling and upselling

Leverage user data to identify opportunities for cross-selling and upselling. Recommending products or services that complement what a user already enjoys can significantly boost revenue while adding value to the customer.

enhance product development

Track user interactions, analyze feedback and identify patterns to understand what features resonate the most with your audience. This information will guide your R&D efforts, ensuring you’re continually enhancing your products to match user expectations.

improve customer journeys

Identify bottlenecks and friction points in the user experience, then streamline processes to create a seamless journey. The more effortless the experience, the more likely the conversion.

predictive inventory managment

By anticipating demand patterns, you can ensure that your products are available when users are most likely to make a purchase, reducing overstock and missed sales.

data-driven content marketing

When you understand preferences and pain points, you can create content that resonates and ensure your marketing efforts are focused on what matters most to your customers.

predicting churn and retention

User engagement, purchase history and behavior can help you predict churn and proactively address customer concerns, reducing customer attrition.

User data is not just about numbers; it represents real people with real needs. Treat their data with respect, and the rewards will be substantial for both your business and your customers. Happy data mining!

When Marketing & Psychology Merge

Advertising is both an art and a science, so it makes sense that we use both our Pantone swatch books and PSY101 notes when creating campaigns. In fact, trying to understand how the human mind works has been part of advertising for so long that a 1957 book called “The Hidden Persuaders” chronicled how some agencies back then employed psychologists to help their creative teams come up with concepts that were more likely to resonate with target audiences (the TV show “Mad Men” touched on this as well in Season 4).

a man winking at the camera

One of the psychological principles that are most commonly used in advertising is called the Rhyme as Reason Effect, and it’s the inspiration behind our latest Instagram (@agency15) #Chapter15, which is created by two members of our team whose names rhyme. They took those visual brainteasers we all did in school and created the answers based on common rhyming terms and phrases.

“Plop, plop, fizz, fizz, oh what a relief it is.” “Nothin’ says lovin’ like somethin’ from the oven.” “Do you Yahoo!?” These advertising slogans, though for different products, all have one thing in common: they’re easy to remember because they rhyme, and this is what the Rhyme as Reason Effect is all about. It’s a cognitive bias (a fancy phrase to describe how our brains perceive and process stimuli) for how we tend to remember and repeat words and phrases that rhyme. It’s why we can recall these slogans decades after they first appeared, certain song lyrics get stuck in our heads, and nursery rhymes have endured for generations.

Rhyming slogans are not only easier to remember, but scientific evidence suggests audiences have better impressions of the advertised product and its attributes as well. A 2013 study published in the Scandinavian Journal of Psychology found that when participants were presented with two sets of new advertising slogans—one rhyming and the other not—they rated the rhyming slogans as being more likable, persuasive and original. More importantly, though, they also rated the rhyming slogans as more trustworthy. That’s right, a statement was regarded as being more credible just because it rhymed. (No wonder advertising gets a bad rap.)

So while an apple a day may not necessarily keep the doctor away, take comfort in knowing that at least there’s a scientific reason why you remember that saying and how it seems perfectly reasonable…and be sure to check out our Instagram feed to try and solve our rhyming brainteasers!

an apple as an animation being eaten to the core
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