27 Sep Report | Up Close and Personal(ised): Are you using customer data like a butler? Or like a stalker?
Although CI has the potential to fuel service to new heights, mismanaged data can lead to serious ramifications that arise from inaccurate insights. Backlash can be swift as awareness around privacy issues grows; share prices, revenue, reputation and even the survival of companies rest on a more intelligent and sophisticated approach. 56% of people are ‘concerned’ or ‘extremely concerned’ about the way companies handle and use their personal data (KPMG, 2016).
Indeed, poor quality CI cost the US $3.1 trillion in 2016 alone (Harvard Business Review, 2016). Yet, 1 in 3 business leaders still don’t trust their CI to make decisions, and only 15% of businesses are fully satisfied with their CI-driven customer experience programmes (Aberdeen Group, 2016).
We spoke with 16 CMOs and Marketing Directors from some of London’s largest organisations about this challenge for this report.
Inside you’ll find:
- A case study for demonstrating quid pro quo to customers to encourage data sharing.
- Why customers find instances of transferred data to be the greatest source of mistrust – and how GDPR compliance may be the answer here.
- A compelling argument in favour of seeking consent to communicate with your customers across channels
All quotes and ideas have been anonymised, as per club rules, so please feel free to share the report with colleagues or on LinkedIn if you’d like.