Too often, companies act as though finding out about the consumers within their markets is some herculean challenge. They may even invest in shady tactics to extract their personal information.<\/p>\n Yet, according to Accenture, 75% of people<\/a> are more likely to spend money with a company that does one of the following:<\/p>\n And if you can do all three, your chances of winning their business improve even more.<\/p>\n According to a report prepared by IBM<\/a>, the information consumers will voluntarily provide companies is fairly significant. Of the more than 30,000 people they interviewed from all over the world:<\/p>\n The potential for using that kind of information is absolutely huge. Aside from the obvious ecommerce personalization opportunities it provides, this data would provide most companies with buyer profiles far more accurate than the ones they\u2019ve ever used before.<\/p>\n There is no shortage of ways you can attempt<\/em> to collect your consumers\u2019 information.<\/p>\n Many companies that have invested in ecommerce personalization simply track what users do and purchase. They then use this information to tailor their site\u2019s behavior, make product recommendations, etc.<\/p>\n Others simply ask for it. They provide their users with surveys or they may offer special deals in exchange for relevant information.<\/p>\n However, the most important part of requesting this information is that you convince the user that it\u2019s for their<\/em> benefit. Obviously, they know that you want it for a reason. But if the only reason they hand it over is for some short-term benefit (e.g. in exchange for an eBook they want or a coupon), don\u2019t expect much enthusiasm from them in the future.<\/p>\n Instead, there must be a clear connection between how you\u2019ll use their data and how it will benefit them. 86% of customers spend more<\/a> when they get a better experience \u2013 not<\/em> a better product \u2013 in exchange.<\/p>\n Furthermore, by 2020, customer experience will outrank products and price<\/a> in terms of brand differentiators.<\/p>\n So as long as consumers trust that you\u2019re putting their information to good use (i.e. to help them<\/em>), most will have no problem volunteering it.<\/p>\n With that in mind, let\u2019s now focus on how<\/em> you can reward consumers for providing you with such valuable information.<\/p>\n Remember, aside from the fact that this information should<\/em> lead to greater profits, the improved experience you\u2019re able to provide them should also help keep this data away from your competitors. After all, if they\u2019re giving it to you and you make them happy in exchange, they shouldn\u2019t have much reason to share this valuable information with the competition.<\/p>\n You literally have everything to gain by using this information to improve your company\u2019s ecommerce personalization.<\/p>\n If you thought it was odd that consumers were so willing to hand over their information, you\u2019ll probably find it even odder that they don\u2019t mind if you use it to create better ads for them.<\/p>\n The results of a survey done by the Digital Advertising Alliance<\/a> showed that nearly 70% of consumers would prefer at least some ads that have been tailored based on their interest. In other words, if you\u2019re not using retargeting ads already, most of your consumers probably won\u2019t mind if you start.<\/p>\n This may seem like an obvious option, but it\u2019s worth bringing up because too many companies miss the target here.<\/p>\n Product recommendations should make your customers\u2019 lives easier<\/em>. They shouldn\u2019t serve to simply tempt them into making impulse purchases.<\/p>\n For example, think about a parent who has a young child. He\u2019s a boy. He\u2019s three. He\u2019s a size 3T. He lives in North Dakota. His favorite color is blue.<\/p>\n Like all parents, the one in this scenario is busy. They have a million things to do.<\/p>\n You could do this parent a real service if, in the fall, you sent them some options for winter clothing that fit him and come in his favorite color. This would save that parent a lot of time shopping for something they\u2019ll absolutely <\/em>need when winter comes.<\/p>\n That\u2019s<\/em> providing value.<\/p>\n Using this information to get rid of old inventory like swimsuits and board shorts in October would be a great way to convince the parent to unsubscribe from your email blasts.<\/p>\n If you have a retail location, you can use your customers\u2019 personal information in much the same way. This time, though, once they check in, your salespeople can be provided with this kind of personal data. The customer no longer has to go through the normal back-and-forth to explain their needs.<\/p>\n Better still, the customer can opt to send the store a notification to let them know they\u2019ll be in soon, giving your salespeople time to put together some customized recommendations.<\/p>\n This kind of thing may sound like science fiction, but it\u2019s already happening and consumers want more of it. By 2020, more than half of them expect businesses to anticipate their needs<\/a> and make appropriate recommendations across every touchpoint.<\/p>\n The standard advice given to most companies about social media involves some combination of the following:<\/p>\n Now, to be sure, social media marketing involves a bit of experimentation. And, yes, you should definitely monitor engagement from your audience for help deciding what and when to post.<\/p>\n But if your customers are willing to give you their social media accounts, you can do much better.<\/p>\n For one thing, you can reach out to any of them who aren\u2019t already<\/em> following you with a friendly reminder that you have an account and that it regularly posts notifications about upcoming sales and promotions.<\/p>\n You\u2019ll also know where your customers are from. This should affect when you decide to post to ensure it has the best chance of getting seen.<\/p>\n If you find out that a large number of your followers are in an entirely different country, you may want to set up a separate account just for them. They\u2019ll definitely appreciate the special attention (especially if you post in their native language) and you can schedule posts to match their time zone.<\/p>\n![\"if](\"https:\/\/www.smartinsights.com\/wp-content\/uploads\/2018\/01\/if-you-want-data-ask-for-it.jpg\")
<\/a><\/p>\nConsumers Want to Give Your Company Information<\/h3>\n
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The Information Consumers Are Willing to Hand Over<\/h3>\n
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The Secret to Collecting Your Customers\u2019 Information<\/h3>\n
5 Ways to Reward Customers for Giving You Their Personal Information<\/h3>\n
1. Leverage Retargeting Ads<\/h4>\n
2. Provide Personalized Product Recommendations<\/h4>\n
3. Leverage Omnichannel Marketing<\/h4>\n
4. Improve Social Media Content<\/h4>\n
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5. Create Better Marketing Personas<\/h4>\n