Study: Brands don’t understand consumers

Armonk, N.Y. – There is a significant perception gap between how well businesses think they are marketing and the actual customer's experience. A U.S. study of 276 marketers and more than 1,100 consumers, developed by Econsultancy for IBM found that almost 90% of marketers agree that personalizing the customer experience is critical to their success.



Despite this widespread agreement, nearly 80% of consumers stated that the average brand doesn't understand them as an individual.



Further illustrating the disconnect between marketers and consumers, 80% of marketers strongly believe they have a holistic view of individual customers and segments across interactions and channels. In addition, this group also believes strongly in their ability to deliver superior experiences offline (75%), online (69%) and on mobile devices (57%).



Despite this agreement, only 47% of marketers stated that they are able to deliver relevant communications. Specific findings from consumers include:



• Only 37% of respondents believe their preferred retailer understands them as an individual.



• Only 22% of respondents say the average retailer understands them as an individual.



• Only 21% of consumers said the communications from their average are "usually relevant."



• Only 35% of consumers said the communications from their preferred retailers are "usually relevant."



One explanation for this relevancy void is that 34% of marketers said they do a good job of linking their online and offline customer experiences. One issue is the technology of integration, with only 37% of marketers saying they have the tools to deliver exceptional customer experiences.



With an average company, 38% of consumers are willing to share their geographic data while 37% said they would do so with their personally identifiable information. When it came to trusted brands, these numbers spiked dramatically. Details include:



• 72% said they would share their geographic data with a brand they trust, an increase of 89%.

• 61% would be willing to share their personally identifiable information with a brand they trust, an increase of 65%.