The flexibility of expanding business on the digital platform by the companies has added options and channels for consumers to make their purchasing decision. Now it’s time when brands get in touch with the consumers.
Each and every brand is looking forward to building their digital space but the data which is flowing to target consumers is misused by some brands. They are using consumers personal data without their consent which is the major drawback.
As a result, brands are targeting consumers with unwanted and irrelevant messages which have no relation to their personal interests.
As per the research, personalization can deliver five to eight times the ROI on marketing spend and will help to boost sales by 10%.
It is necessary for the brands to invest in reconnecting with their lost consumers.
Personalized products that are relevant to their past experience and future needs will work to increase the sales.
Companies have to extract the exact and relevant data of the consumers and they will feel comfortable only if their data is used in the right manner.
For this, the organisations have to shut down the processes of acquiring data from the third party. As per the research consumers leave the brand if they came to know that their data is being misused in some other manner.
It is important to keep authenticity when you step into the digital space. therefore transparency, consent and trust are key to build the long-lasting brand relationship and lifetime value of the brand.