Offer value to collect first-party data

New Ideas in MarketingEssential news for marketers, summarised by YouGov
May 03, 2021, 12:16 PM GMT+0

YouGov’s recent survey of 1,200 US adults found that 90% of consumers aged between 18-29 are likely to share personal data, in return for something of value.

As privacy concerns around how brands collect and share data grow, 88% of consumers say they are willing to share their information in exchange for value. Loyalty programs could help businesses boost their first-party data collection process and enhance consumer interactions.

74% of consumers prefer when discounts and recommendations are made based on first-party data gathered through loyalty programs. Further, 88% of consumers who feel emotionally connected with a brand by being its loyalty member are likely to spend more on the brand.

Brands can reach more customers with loyalty programs, as 58% of loyalty program members will recommend the brand to their friends and family. First-party data can help brands offer personalised recommendations in their loyalty programs.

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