NEWS26 July 2016

Brands get customisation right ‘less than 30% of the time’

Data analytics News North America Trends

US — A new study of consumers has found that brands using technology and data to offer customised products often fail to get it right. 

The study, by Radius Global Market Research (Radius GMR), found that, according  to consumers, marketing customisation efforts ‘get it right’ less than 30% of the time, on average.

The study aimed to provide insight into how consumers currently view and value customisation across a range of industries. Key findings include:

The majority ( 62%) of customers are aware of customisation and have a clear idea of potential benefits, such as being aware of new products and services ( 46%) and added convenience ( 44%).

Loyalty programmes are the most popular form of customisation, with 70% consumer interest and 61% utilisation. After that, the most popular customisation methods vary greatly by industry.

Men and women view the relevancy of customisation differently. While women see the most value when it comes to skin and hair care ( 61%), fashion and apparel ( 59%) and health and wellness ( 58%); men prefer customised offerings in technology ( 50%), TV/ movie entertainment ( 49%) and banking services ( 44%).

There is also a difference between generations. While those aged 18-34 apparently enjoy the ‘element of surprise’ and the ‘ability to achieve and support a particular image or lifestyle', those aged 35-54 prefer the ‘convenience of less time shopping’ and ‘help with meeting the needs of their household'. Those aged 55+ feel ‘being introduced to new products/ services’ and ‘reducing waste’ is most valuable.

"Radius GMR’s survey shows that consumers are potentially very receptive to efforts to customise the brand experience," said Radius GMR vice president, Shira Horn.

"But if marketers don't do the homework involved to provide and communicate highly relevant benefits to their specific audiences, they are unlikely to capitalise on the opportunity."  

The survey covered consumers in the US and UK. More information can be found here. 

@RESEARCH LIVE

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