While privacy is often thrown around as the reason to withhold personal data from brands, it’s not the only reason. Oftentimes consumers don’t trust brands to create a truly personalized experience with their data. According to a recent Boxever report more than half of those surveyed don’t want brands to have any of their personal information.
How do consumers know that revealing their personal data won’t provide a personalized experience? They’ve been burned in the past, especially by poor advertising. Seventy-two percent of people say they see the same ads at least five to 10 times per week. Three quarters (74 percent) of people continue to see ads for products that they have already purchased. If brands aren’t offering consumers relevant, personalized content it’s no wonder consumers aren’t granting brands more access to their data.
Mistrust is an obstacle for all brands, but the travel industry has substantial work to do. While 49 percent of people think retailers would use their data to improve the customer experience, only 27 percent of respondents said the same about the travel industry. To change that, the travel industry needs to take a page from Google’s book, which 72 percent of survey respondents said knew their habits, preferences and interests well. In order to be successful, travel brands must convince consumers they know them and will provide value if given access to their data.
The travel industry, however, has an opportunity to turn things around with millennials. Millennials are nearly twice as likely to believe giving brands access to personal data will help them in their daily lives. If brands can convince consumers their personal data can provide better recommendations, more financial stability, and generally better content brand loyalty will develop organically.
There’s a lot ground to cover if companies want customers to forget about the ways they’ve been let down after sharing personal data in the past. Brands can’t let any opportunities to access customer data slip, and need to change the stigma that they aren’t providing vale for customers, especially in the travel industry. By providing exceptional personalized connections with customers, they can turn the tide and move past these roadblocks.
Download the latest report from Boxever for more information: Reaching the Connected Customer.