One of the toughest issues for retailers to deal with in this high-tech world is how much to personalize their communication and offerings. On the one hand, retailers need as much customer information as possible to target individual shoppers more specifically. On the other hand, many customers want their privacy and do not appreciate it when they think they are overly tracked.
What do YOU think is the proper balance?
Here the thoughts on this subject by Louis Foong, the founder and CEO of ALEA Group Inc., (a B2B demand generation specialist):
“You want to give your prospects and customers a seamless, personalized, and sublime experience, and you know that you can’t do that without collecting their personal data. The trouble is, a lot of your customers don’t like the idea of sharing their information with you – what exactly are they so afraid of?”
“Findings by Boxever show that attitudes toward personalization and privacy are complex, and there are a few reasons why many of them are so against sharing their personal information with companies. The infographic below shows the trickiness of balancing privacy concerns and effective personalization. Customers are also wary about receiving spam mail or offers that aren’t relevant to their interests. Only 14% of people say data collection through connected devices will improve their life.The other 86% either aren’t sure or don’t think it will improve their life.”
Here is the challenge.