Customers readily give details, such as email addresses or phone numbers, to businesses in return for offers and exclusive deals. Most people don’t mind being marketed to (who doesn’t love a good 20% off food voucher?) but it can get annoying when you receive hundreds of irrelevant emails promoting products or services that you have zero interest in. Many businesses now offer the option for customers to connect their social media accounts, and with the right technology, this can allow businesses to truly understand who they are and what they want so that they receive the offers that are right for them.
Companies that offer consumers the option to log in by connecting their social media accounts see, on average, 40-50% more registrations than companies that don’t, with reasoning being cited as quicker and easier signup, as well as familiarity for the user. However, there is another benefit which is not always obvious – personalisation.
While cookies already exist to monitor customer behaviour, to target advertisements and to optimise consumer experience, these only tap the surface. 30% of consumers delete cookies at least once per month, and 39% block them completely. Even when cookies are used properly, the insight they deliver is arbitrary and page-level. To truly understand consumer behaviour, and to know what they want, businesses need to know what drives this behaviour and not just the outcome of it.
By socially connecting, consumers can leverage their digital footprint and provide businesses with insights into their true self, including their hobbies, experiences, personality, and more, and directly benefit by viewing material that is relevant to them rather than impersonal mass-marketing. 73% of consumers admit that they get fed up with being presented with irrelevant content, with a further 57% stating that they would be happy to share personal data in return for personalised interactions with brands.
When comparing the depth of consumer insight that can be derived from a consumer digital footprint to the amount that is utilised in traditional marketing techniques (which is usually limited to sociodemographic data), there is no question that it would enable more effective personalisation. With the right analysis, businesses can gain real-time insight into consumer personality, their hobbies and interests, their life events, and more, all on top of the traditional sociodemographic data, and this is what is required to make the consumer experience truly personalised.
On top of personalised marketing, this insight can be used to pre-fill application forms, detect and reduce fraudulent transactions and personalise products based on customer interests, saving time for customers and increasing the chances of them completing an application or buying an item.