Cheetah Digital, a cross-channel relationship management solution provider for the modern marketer, unveiled the five key trends shaping the state of relationship marketing in the year ahead, with the release of its 2022 Global Digital Consumer Trends Index.
In conjunction with eConsultancy, the global report looks at consumer attitudes and year over year trends in personalisation, privacy, messaging, advertising and brand loyalty based on survey insights collected from over 5,400 consumers across six countries including the UK, Spain, France, Ireland, the US, Australia and Japan.
The report details consumer preferences including:
● What they expect from the brands they buy from;
● The channels and formats they prefer to communicate
● The type of data they’re willing to share; and
● The terms under which they’re willing to share it.
Key takeaways at a glance
● Protection of Privacy is On The Rise
As privacy regulations sweep the globe and data breaches continue to dominate news cycles, consumers are more privacy conscious than ever online. We have seen huge rises in those turning to incognito browsing (50% increase), a PC cleaner (48% increase), password generator (40% increase), ad blocking tech (37% increase), paid for premium software (31% increase), and a password manager 31% increase).
● Use Data But With Permission
While most consumers will trade personal data for personalised content, they prefer brands only use data that they’ve explicitly shared directly to the brand (zero-party data). Other tactics are considered “creepy.” Among the creepiest are: ads based on location data (67%), retargeting ads derived from tracking cookies (62%), and ads related to something they discussed near a smart device (61%).
● Brand Loyalty Comes With Conditions
57% of consumers say they are prepared to pay more to buy from a preferred brand, with loyalty metrics spiking across the board. Among the growing reasons they stay loyal are when brands understand customers as individuals (110% increase), treat their data with respect (71% increase), align with their personal values (58% increase) and offer admirable loyalty programs (55% increase).
● Contests, Sweepstakes and Exclusive Access is in Demand
Consumers’ expectations of the loyalty programs are maturing, with a desire for contests and sweepstakes increasing 73%, exclusive access and content increasing 58%, and personalised product recommendations increasing 56%.
● Email Reigns
When it comes to driving sales, email remains one of the most effective channels, beating banner ads, social media ads, organic posts, and SMS by up to 108%. Half of consumers report purchasing a product directly as a result of an email they received in the last 12 months.
Shifting behaviour at a critical time
This data comes at a critical time, as the effects of the pandemic continue to reverberate throughout the marketing landscape. While some consumer behaviors and attitudes remained the same, many others changed — and quickly. Shifts that once took years to emerge are taking place in a matter of weeks, pushing brands to arm themselves with the latest data to keep up, and respond appropriately.
“The path to customer acquisition has evolved from a relatively straightforward train track to a bowl of spaghetti, with multiple channels and formats to navitate,” said Tim Glomb, VP Content at Cheetah Digital. “Brands can no longer get away with lumping customers into segments, but rather must treat them as individuals. This requires developing authentic relationships, offering real value exchange, and interpreting the right customer signals at the right time in the right channel. That’s a lot to absorb, but the Consumer Trends Index is designed to help.”
“This report offers brands an extraordinary opportunity to assess their ability to create and execute campaigns that meet and exceed consumers’ growing demand for more personalisation, more privacy and a deeper relationship with the brands they know and trust,” Glomb said. “How brands respond will impact their bottom line in both the short and long term.”
Cheetah Digital is also hosting a series of webinars to delve deeper into the report’s findings, analyse the trends highlighted and offer actionable recommendations on next steps:
● “Key Consumer Trends Driving Purchase Decisions: 30 data points marketers must understand to drive revenue.” Click here to register.
● “30 Consumer Trends Across 4 Demographics.” Click here to register.
The 2022 Digital Consumer Trends Index shares insight from 5,404 consumers across six countries (Australia, France, Japan, Spain, the U.K. and Ireland, and the U.S.) as well as by age group (18-24, 25-39, 40-54, and 55-75), gender and annual household income ($0-$25,000, $25,001-$50,000, $50,001-$75,000, $75,001-$100,000, $100,001-$150,000 and over $150,000) to help digital strategists and decision-makers understand how these issues fit together to build more meaningful and lasting relationships between brand and buyer.
The format for this version of the report focuses mainly on a global view across all demographics.
Be sure to visit www.cheetahdigital.com for additional findings from the research focused on the differences in attitudes among varying age groups, along with a U.S.-only data report. (Both scheduled for late spring 2022.)
About Cheetah Digital
Cheetah Digital is a cross-channel customer engagement solution provider for the modern marketer. The Cheetah Digital Customer Engagement Suite enables marketers to create personalized experiences, cross-channel messaging, and loyalty strategies, underpinned by an engagement data platform that can scale to meet the changing demands of today’s consumer. Many of the world’s best brands, including Starbucks, Hilton, Neiman Marcus, Levi’s, and Williams-Sonoma trust Cheetah Digital to help them drive revenue, build lasting customer relationships, and deliver a unique value exchange throughout the customer lifecycle. To learn more, visit www.cheetahdigital.com.