Consumers think marketers know more about them than marketers actually do.
That’s one conclusion of a new global study from Sitecore that looked at both sides of the data collection coin—how brands are handling data, and how consumers feel about it.
Sitecore, an “experience management” software company, said 56% of consumers surveyed thought brands knew their purchase history, whereas only 47% of brands reported collecting that data.
The study points up the inherent challenge of effective personalization, and the need to maintain consumer trust while delivering a thoughtful, relevant customer experience. The number one challenge for collecting customer data, the surveyed brands said, was customers’ unwillingness to share it.
Interestingly, the survey, which was conducted by Vanson Bourne, found that 76% of brand respondents believe their customers expect them to keep their data secure. But only 35% feel that they should not share customer data with other parties without permission.
“This has the potential to erode trust in brands and leave significant proportions of customers wary of providing their data,” Sitecore wrote.