You want my info? Give me great service!

DISCUSSION TOPIC:  Consumers Want Service for Private Details

TOPIC SUMMARY:

A new poll from Harris Interactive, commissioned by Chordiant Software, finds that consumers, to varying degrees, believe it’s important that companies have information about their buying habits and other personal details to provide the level of service they seek.

According to the study, 64 percent of respondents thought it was either “very important” or “important” that companies had a personal history on them.

Having the information is one thing but what consumers are most interested in is what is done with it. Today’s consumers, according to the study, are willing to walk when they feel even the least bit slighted.

Sixty-two percent, for example, said they would not hesitate to cancel or switch service or product suppliers after having a bad experience. Seventy-eight percent said poor customer service would cause them to shop elsewhere.

Younger consumers seem particularly unwilling to understand subpar performance from the companies they patronize. They are more than willing, however, to go online and share their bad experience with thousands of people.

Discussion questions: Are you surprised that more consumers seem willing to share personal information with retailers and other companies? Are retailers and others really taking this information to provide a higher level of service to consumers? Where do you see the greatest opportunities for retailers to take personal information and translate it into a more meaningful relationship with shoppers?

My post:

I am a bit surprised that such a high percentage of consumers (64%) thought it important for companies to have their personal information.  It speaks to the desperation of consumers to have better experiences with retailers and brands and that they believe if the company has their information it will lead to personalized high-value experience.  Unfortunately, most companies have not shown the ability to consistently deliver a more positive experience on the basis of owning personal data.  This is an enormous opportunity area for the companies who figure out how to use the personal data they have to personalize the consumer relationship.

The under-30 crowd will continue to drive open sharing of personal data and I expect data safety will continue to improve.  Now it is up to the retailers and brands to use it effectively.

Mike Osorio, your Dare to be Contagious! TM strategist

http://www.osoriogroup.com/

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GO TO THE FULL DISCUSSION AT RETAILWIRE.COM:
http://www.retailwire.com/Discussions/Sngl_Discussion.cfm/12814  

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