We need to take responsibility for personalization and data
At Kurtosys, we put customer experience at the heart of our tool development, design principles, and strategic guidance and support for clients.
Personalization plays a large part in customer experience and can enhance your brand, support your business goals and drive revenue. But, if you do it poorly, personalization can have an equally powerful negative effect.
In a recent panel discussion, we examined the use of personalization and gated content across asset management. Panel member Ross Duncton, managing director, head of marketing at BMO Global Asset Management, highlighted the importance of taking responsibility for our role in personalization.
Customers’ data is not free marketing
Asset manager marketers have all been involved in collecting customers’ data, such as email addresses and content preferences, from gated content. We have all likely been involved in conversations about how to use it, for example, with email target lists.
Duncton said there is a temptation to “just email the database” with blanket information. This can seem like a good idea. But it can frustrate the customer and be a quick and easy way to alienate your audience.
If a user has given contact details and information about their preferences, they expect you to use it in a way that’s relevant to them. If you blast irrelevant content at them, they will punish this laziness by unsubscribing, and forming a negative association with your brand.
So just because you did not pay for that data does not mean you are free to use it in an untargeted fashion.
Using customer data is a series of ongoing transactions
Duncton believes marketers should view asking for personal information as the first in a series of transactions with the customer – and keep this in mind when thinking about personalization and communication with their audience.
The initial transaction of data in return for accessing valuable content is only the first step. Every time you subsequently interact with your audience, you should treat it as a transaction between you and the individual customer. You are providing a service or reward for a ‘payment’ from the user in the form of their data.
If this transaction becomes sub-par, users will most likely not want to transact again and unsubscribe.
With great power comes great responsibility. The responsibility you show when using people’s data will reflect directly on your brand and how people feel about your organization.
At Kurtosys, we are proud of our fast, scalable and easy-to-use technology. We love solving personalization problems with smart applications of technology and creativity.
Are you struggling to keep up with changing trends in personalization? Do you need to automate difficult and costly processes, deliver critical data at pace, or update your user interfaces and website design?
If so, get in touch today. Talk to our team and arrange a demonstration of how our tools can add value to your digital transformation.