NEW YORK, Dec. 5, 2017 /PRNewswire/ -- U.S. consumers
are locked in a vicious circle with brands over customer
experience, according to new research from Accenture (NYSE: ACN).
While 44 percent are frustrated when companies fail to deliver
relevant, personalized shopping experiences, nearly half (49
percent) are concerned about personal data privacy as they
subscribe to intelligent services designed to understand and
anticipate their needs. Poor personalization and lack of trust cost
U.S. organizations $756
billion last year, as 41 percent of consumers switched
companies. Without deeper customer insight, companies cannot
deliver the experiences they crave.
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The thirteenth annual Accenture Strategy Global Consumer Pulse
Research gauged the attitudes and expectations of more than 25,000
consumers around the world, including 2,000 U.S. consumers, about
their appetite for more intuitive, technology-driven brand
experiences. As organizations strive to become 'living businesses'
– companies that are extraordinarily pre-emptive and responsive to
changing customer needs – the study revealed a significant digital
trust deficit that must be addressed before true customization can
be delivered.
"As technologies such as artificial intelligence, machine
learning and digital assistants become more sophisticated and
mainstream, companies are creating new touch points, offerings and
services that intelligently anticipate and flex to their customer's
precise needs, offering a level of hyper-relevance not experienced
before. Those that succeed will hit a 'sweet spot' whereby U.S.
customers will be willing to share more personal insights into
their world in return for greater value and the confidence that
their data is protected," said Robert
Wollan, senior managing director and Advanced Customer
Strategy global lead at Accenture Strategy.
U.S. consumer appetite for hyper-relevant experiences
Forty-three percent of U.S. consumers are more likely to shop with
companies that always personalize experiences, as long as their
trust isn't compromised. Nearly a third (31 percent) say they would
find great value in services that intuitively learn about their
needs over time to customize product, service or content
recommendations.
Nearly half (48 percent) of U.S. consumers would use
'smart-reordering' services where intelligent sensors in the home
pre-empt when a product, such as laundry detergent, is running low
and automatically re-orders it on their behalf. Another 36 percent
use digital assistants. While the vast majority (89 percent) are
satisfied with the experience, 40 percent say it can feel slightly
creepy when technology starts to correctly interpret and anticipate
their needs.
Digital trust deficit
Digital trust remains a critical barrier to enabling hyper-relevant
experiences. Expectedly, a clear majority (92 percent) of U.S.
consumers say that it is extremely important that companies protect
the privacy of their personal information. Another 79 percent say
it is frustrating to realize that some cannot be trusted to use it
appropriately.
Forty-three percent of U.S. consumers fear intelligent new
services will come to know too much about them and their family.
Overall, 66 percent want companies to earn their trust by being
more open and transparent with how their information is being
used.
Building digital trust
"Digital trust will become increasingly challenging for companies
to achieve as they look to capture new categories of customer data,
such as biometric, geo-location and even genomic data, in their
drive for greater relevance. Customer concerns will inevitably
rise, so it's critical that companies have strong data security and
privacy measures in place, they give customers full control over
their data, and are transparent with how they use it," said
Kevin Quiring, managing director,
Advanced Customer Strategy North America lead, Accenture
Strategy.
Hyper-relevance is the next wave of growth for companies
operating in consumer industries, but it cannot be achieved without
engendering digital trust. To pivot to hyper-relevance, companies
should consider:
- Giving customers full control over their data – As
customers demand greater control over how companies use their
personal information, organizations must become more transparent.
Customers must be given full access to, and control over, their
data which will demonstrate responsible stewardship and ethics.
Furthermore, they must ensure the appropriate safeguards are in
place to protect it.
- Creating new customer value – Companies that distinguish
themselves with hyper-relevant experiences look beyond the
traditional customer journey. They prioritize areas where they can
dynamically deliver something that customers value, at the right
moment every time.
- Investing in precise insights – Hyper-relevant companies
invest in predictive analytics, collaborate with an ecosystem of
partners to capture real-time customer insight, and mine data in
new ways to understand their specific needs.
To find out more about the report, visit
www.accenture.com/GCPR-Hyper-Relevance. Join the conversation at
@AccentureStrat #GCPR #CX.
About the research
The thirteenth annual Accenture Strategy Global Consumer Pulse
Research (GCPR) surveyed more than 25,000 consumers from around the
world about their appetite for more intuitive brand experiences.
The survey included online responses from respondents in:
Argentina, Australia, Belgium, Brazil, Canada, China, Czech
Republic, Denmark,
Finland, France, Germany, India, Indonesia, Ireland, Italy, Japan,
Malaysia, Mexico, Netherlands, Norway, Philippines, Poland, Russia, Singapore, South
Africa, South Korea,
Spain, Sweden, Thailand, Turkey, UAE, United
Kingdom and the United
States. The survey was fielded in June – July 2017.
About Accenture
Accenture is a leading global professional services company,
providing a broad range of services and solutions in strategy,
consulting, digital, technology and operations. Combining unmatched
experience and specialized skills across more than 40 industries
and all business functions – underpinned by the world's largest
delivery network – Accenture works at the intersection of business
and technology to help clients improve their performance and create
sustainable value for their stakeholders. With approximately
425,000 people serving clients in more than 120 countries,
Accenture drives innovation to improve the way the world works and
lives. Visit us at www.accenture.com.
Accenture Strategy operates at the intersection of business and
technology. We bring together our capabilities in business,
technology, operations and function strategy to help our clients
envision and execute industry-specific strategies that support
enterprise wide transformation. Our focus on issues related to
digital disruption, competitiveness, global operating models,
talent and leadership help drive both efficiencies and growth. For
more information, follow @AccentureStrat or visit
www.accenture.com/strategy.
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SOURCE Accenture Strategy