One of my favorite themes these days is that marketers focus on personalization while consumers want value. Let’s add some wood to that fire with this Oracle Retail study, which found that consumers rate convenience as the most important part of a great in-store experience (56%), ranking experience far behind at 37%. Yet retailers prioritize them equally: experience 35% vs. convenience 34%.
This Merkle study on loyalty programs plays a variation of the same tune: 64% of consumers said they want prizes that make their lives easier while just 36% want something that makes them feel special. They’re also getting more impatient: 46% said in 2018 that they’re prefer a $50 prize now to a $75 prize in four to six weeks, compared with just 35% in 2018.
And you know those sophisticated marketing technologies you’ve been struggling to deploy, including cross-device campaigns, chatbot access to shopping behavior and customer service interactions, and social media ads based on visits to other sites? Accenture Interactive found consumers consider them four of the five creepiest things you can do. The only thing that’s creepier is receiving an ad for something you only talked about near a voice assistant.
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