Customer Acquisition Barometer 2014
Posted by claire.charruau | 20 May
Last week, TLC Marketing attended the DMA conference where the findings of the Customer Acquisition Barometer 2014 were launched - A new annual survey of marketers and consumers about acquisition practices produced by the DMA in partnership with McDowall. And we took away some intriguing insights!
52% of consumers knowingly shared their details in the last 12 months, in the interest of finding the latest products and services, getting the best deals and staying in touch with brands – consumers WANT to engage with brands, and the content and method of these interactions are key in building trusting relationships.
Concerning the different channels consumers can use, studies show that social media is the least trustworthy channel and consumers use it the least in terms of giving their details. However, 77% of marketers still include it in their customer acquisition programmes.
On the flip side, email and the brand’s own website are the two most trusted and preferred methods of contact, and the most successful in terms of customer acquisition. These two mediums are already the most widely-used channels for customer acquisition.
And so the question facing marketers now is: how can content be used to ensure maximum engagement through those channels?
Because as one of the panellists Jonathan Earle, Head of Customer Strategy and Development at Telefonica put it “differentiating in price is dangerous, as you can be undercut by anyone at any stage”.
Finally for information exchange to be effective and sustainable, permission and control of information were not the only important factors. Rewards were also highlighted as one of the major components - they are effective incentives to encourage consumers to share their information, with 32% indicating that they are motivated to share their information by competitions and 29% by loyalty schemes.
Targeted incentives dependent upon age were also proven to impact acquisition, as what motivates young adults is different from what appeals to the retired.
The full report and the related infographic produced by the DMA are available on the DMA’s or the McDowall website.