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Survey: Brands need to deliver on data privacy, personalisation

January 16, 2024

Marigold, a martech specialist focused on delivering relationship marketing solutions, has released the 2024 Marigold Global Consumer Trends Index Report, which offers insights into relationship marketing for the year ahead. Based on surveys conducted by Econsultancy across nearly 10,400 consumers worldwide, the report examines consumer attitudes and generational differences in personalisation, privacy, messaging, advertising and brand loyalty.

Today’s marketers continue to face challenges on multiple fronts, including building customer trust, delivering value, navigating economic uncertainty, all while balancing data privacy and personalisation as third-party cookies crumble. The report provides insights into consumer preferences that drive marketing decisions and explores the influence of brand relationships. In this year’s report, consumers indicated that they value relationship marketing strategies, personalisation and loyalty programmes, while third-party tracking tools and social media advertisements continued to rank among the most unpopular.

“Consumers reward brands they love with a larger share of their wallet and repeat business. The 2024 Marigold Global Consumer Trends Index Report shows that brands earn that love by delivering personalised interactions, in the moments that matter, and demonstrating that they really know their customers,” said Wendy Werve, CMO of Marigold. “In addition to underscoring that email continues to be a critical marketing channel for building loyal customers, this year’s report provides actionable insights that can help brands turn their customers into superfans for the long term.”

Key report takeaways:

  • Email Tops Marketing Channels in Purchase FrequencyEmail is the most popular marketing channel when it comes to consumer purchases, with half of consumers surveyed stating they have purchased an email offer in the last year, surpassing social media ads (48 per cent), social posts (43 per cent), SMS/MMS messages (24 per cent) and banner advertisements (21 per cent).
  • Convenience and Quality Outrank Economic ConcernsDespite half of consumers reporting economic pessimism, 59 per cent consider convenience more important than price when making purchase decisions, while 69 per cent place greater emphasis on product and service quality.
  • Personalisation and Relationship-Building MatterAn overwhelming majority of consumers say their favourite brand treats them like an individual (85 per cent), and strives to develop a relationship with them (82 per cent).
  • Non-Monetary Messages Resonate Better with Younger ConsumersRoughly two-thirds of Gen Z (64 per cent) and Millennial consumers (66 per cent) cite they’re likely to engage with messages about brand purpose-related activities, compared to 46 per cent of Baby Boomers. Younger consumers also find more value in community and unlocking exclusive content than older consumers.
  • Brand Loyalty Proves Immensely Valuable63 per cent of consumers will pay more to shop with the brands they’re loyal to. Brands need to satisfy consumers’ desires in key areas like customer service/support and data privacy to maintain this loyalty.
  • Consumers Lean Into Loyalty ProgrammesThis year, compared to last, 43 per cent of consumers will be relying more often on loyalty programme benefits before making purchases. Overall participation is also up with 39 per cent of consumers more likely to engage with a loyalty programme this year, versus just 8 per cent who reported being less likely to engage.
  • Creating Value Exchange Remains KeyWhen it comes to sharing their data in exchange for something, a majority of consumers find value in discounts/coupons (91 per cent), loyalty points/rewards (89 per cent), early/exclusive access to offers (83 per cent), a chance to win something (81 per cent), unlocking content (60 per cent) and brand community (55 per cent).
  • Social Media Pessimism Signals ConcernsNotably, 63 per cent of consumers don’t trust the advertising they see on social media and 55 per cent of consumers are engaging with social media less for the sake of their mental health.

“Loyalty is an all-encompassing strategy, not simply a product. This report underscores the significance of messaging-driven loyalty and trust-building through personalisation in every interaction. Brands must go beyond generic incentives to establish meaningful relationships with savvy consumers who have become frustrated with irrelevant content and offers,” stated Werve.

For the 2024 Global study, Marigold and Econsultancy conducted an extensive survey involving 10,394 consumers from September-November 2023 across several markets, including Australia and New Zealand, the Benelux Region, Denmark, France, Germany, Japan, Spain, Sweden, the UK and the US. The breakdown by generation is as follows:

  • Gen Z (18-26): 15.4 per cent (1,602 respondents)
  • Millennials (27-42): 40.2 per cent (4,174 respondents)
  • Gen X (43-58): 22.7 per cent (2,362 respondents)
  • Boomers (59+): 21.7 per cent (2,256 respondents)

Categories: Advertising, Articles, Consumer Behaviour, Research, Social Media

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