The 2019 Adobe Brand Content Survey highlighted the omnichannel mix that informs consumer purchasing decisions and their willingness to share on social media.
It also reported a high level of awareness about the gathering of data and information by the brands they interact with (84%) and widespread acceptance of that being used to personalise interactions (77%).
But these consumers are not passive: eight in ten (83%) claimed to actively adjust privacy settings with the brands they engage with in order to protect their information, while a similar proportion (81%) stated they would stop purchasing from a brand if it “crossed the line with a creepy personalised experience”.
The findings echo those in the India segment of Accenture’s global Financial Services Consumer Study, which found that 81% of the country’s consumers are very cautious about the privacy of their personal data; data security breaches are their second-biggest concern, behind feeling their complaints are not dealt with in an acceptable manner.
At the same time, the Economic Times reported, seven in ten indicated their willingness to share significant personal information, such as location data and lifestyle information, with their bank or insurer in exchange for lower pricing on products and services.
Consumer reaction to personalisation depends on what stage of the purchase cycle they are at, Shrenik Gandhi, co-founder and CEO of digital marketing firm White Rivers Media, told the Business Standard.
“While some amount of personalised advertising is important to ensure that one doesn’t waste money in showing ads meant for consumers in Delhi to those in Bengaluru, it is important not to shock a consumer in a way that will impact their purchase decision,” he explained.
And, he added, since the ecosystem is still trying to establish consumer habits in a fast-changing environment, both sides of the interaction – users and advertisers – are about 12 months away from fully grasping the issues involved.
Sourced from Adobe, Business Standard, Economic Times; additional content by WARC staff