The Balance Between Personalization & Privacy to Best Serve Your Customers | Amazing Business Radio
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How to Provide a Personalized Customer Experience that Builds Trust
Striking the Balance Between Personalization and Privacy to Best Serve Your Customers
Shep Hyken interviews Bill Bruno, CEO of D4t4 Solutions, a company that helps brands provide the most value for their customers using their data. He talks about responsibly utilizing customer data to provide a personalized customer experience without compromising trust.
Top Takeaways:
• Customers have different levels of tolerance when sharing their information with brands. Some customers are willing to share everything with a brand, some refuse to share anything at all, and there are those that fall in between. This range makes up the different data personas.
• Using customer data is an opportunity for brands to create an excellent customer experience, whether it is for preventing fraud, marketing, or enhancing personalization.
• Because customers have different levels of willingness to share their data, there is no all-in-one solution when it comes to marketing or providing personalized service. It is up to the brands to invest in and design experiences based on what they know about each segment of their customers.
• Customer trust is important. Customers need to know that when they share their data, it will be kept safe and used to create a better experience for them.
• The challenge for companies, in B2B or B2C, is to use data in such a way that endears the brand to the customers. You must create trust and let your customers understand the value of sharing their data with you.
• Some customers are unwilling to share their personal data with brands, but there is still an opportunity to create a personalized experience. You can personalize the journey based on context. Pay attention to what the customer is viewing, downloading, or purchasing at the moment.
• Plus, Bill discusses the technologies used to capture data and what it means to brands and customers. Tune in!
Quotes:
"If brands use data to protect their customers and give them value, they will be more willing to share their data because they can see how it helps them."
"Brands need to temper how they are using their customers' data. They need to toe the line between "helpful" and "creepy."
"Managing customer data is a double-edged sword. On the one hand, they demand privacy, and on the other, they demand a personalized experience. Brands need to adapt to what their customers are willing to share. There is no one size fits all approach."
About:
Bill Bruno is the CEO of D4t4 Solutions. He has over 19 years of experience in the media, data, and analytics sectors and has a passion for fostering a culture of innovation while working with brands to drive transformational change.
Shep Hyken is a customer service and experience expert, New York Times bestselling author, award-winning keynote speaker, and host of Amazing Business Radio.
This episode of Amazing Business Radio with Shep Hyken answers the following questions and more:
1. What are data personas?
2. What is first-party data and why is it important to brands?
3. How do you collect and use customer data?
4. How can brands use customer data to create a personalized experience?
5. How can brands balance personalization and privacy when using customer data?
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