Goldsmiths and Adobe: Consumers demand more tailored experiences with brands
Half of British consumers are now loyal to brands that tailor experiences to suit their needs and preferences, a new study by Adobe and Goldsmiths has found.
The report, which looks into the changing nature of consumer loyalty, found that 62 per cent of the 1,000 consumers surveyed across the UK, a customer having a consistent experience with a brand was crucial in them returning for more.
These days, it seems that customers are led by overwhelming choice, and 61 per cent of British consumers admit they would buy products from an unknown brand that provided a superb experience - this is the highest figure in Europe.
David Burnand, enterprise marketing director for Adobe EMEA, said: “Digital has changed the game forever, no brand denies that data holds the key to providing consistent, relevant and exciting experiences.
“But the next iteration of data insight and action - AI - will move this story on even further in the experience era. AI means brands can turn data and content into true, personalised experiences based on customer relationships - and at scale.
“As time goes on, the algorithms will continue to learn and adapt, allowing us to not only surprise and delight customers but also help to solve their problems quickly and easily. AI will be critical to providing the personalised experiences that will keep consumers coming back.”
The UK’s brands could work even harder to build loyalty these days, and the need for consistent experiences across channels is growing with consumers now saying they do nearly half (48 per cent) of their shopping online, with an average of 25 per cent on mobiles.
Furthermore, the digitally-savvy consumer looks to use new technologies like AI-powered chatbots and augmented reality to heighten their experience.
The director of innovation at the Institute of Management Studies (IMS) at Goldsmiths, Dr Chris Brauer, commented: “The proliferation of digital tools and the use of AI have rewritten the rules of consumer loyalty.
“The new model embeds available consumer data at the core of a consumer’s journey, and allows brands to present their audiences with personalised and relevant offerings that not only satisfy their needs but relate to them in a deeper, more personal way.”
Despite this, Britons provided a warning to brands. The vast majority (83 per cent) want clarity on how their data is used, which demonstrates a fine line between recognising an individual’s needs and being intrusive on their personal information.