Customer data is great to have, for all sorts of reasons. But is the industry doing enough in terms of offering rewards for all that personal data? Here’s the word;
New research has demonstrated the need for the insurance industry to reward customer trust in communications, as increasing numbers are prepared to share their details in exchange for services such as renewal reminders and tailored offers. Business communications provider, Esendex, surveyed 1,000 consumers across the UK and Ireland as part of The Connected Consumer Report 2024, to understand communications behaviour, engagement and trust levels, and channel preferences.
The majority of consumers said they were willing to share their contact details with an organisation, recognising that mobile communications enhanced the service they received, while just 11% were strongly opposed. More than half of consumers reported trusting messages from businesses, but other findings indicated this trust needed to be earnt, as 80% of respondents said they’d avoid or stop using an organisation due to the quality of its communications. This rose to approximately 85% in both the 18 to 24, and 35 to 44 age brackets.
Commenting on the findings, Richard Hanscott, CEO of Esendex, said:
“Businesses are eager to explore new ways to build and maintain meaningful relationships with their customers by understanding their preferences, while managing this information responsibly and compliantly.
“It is hugely positive news that the majority of consumers trust messages from businesses, but in order to expand and cement this trust, we need to engage with what consumers want – starting with transparent, consistent and reliable communications.”
A staggering 90% of respondents also said that personalisation encourages them to take action at least some of the time – with 30% saying they did this either all or most of the time.
Richard added: “Personalisation is also proving popular with customers, who are more likely to engage with and respond positively to messages that feel tailored to them. Many are aware that companies need to use some of their data to deliver a personalised experience and are happy for them to do so, provided they have the assurance that this will be stored securely and used ethically.”
To view the full findings of the survey, read The Connected Consumer Report 2024 at https://www.esendex.co.uk/connectedconsumerreport2024/
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