consumer experience/CX

Balancing Personalization and Data Privacy for Optimal Customer Experience (Event Summary)

Marketers currently face a daunting paradox: 91% of US consumers say they are more likely to shop with brands that provide personalized offers and recommendations; meanwhile, 81% of respondents say the potential risks of data collection by companies outweigh the benefits. This leaves marketers to thread a delicate balance – provide customers with a personalized experience and ensure that their data is secure and being used responsibly. During this Insights Studio event, HawkPartners shared a blueprint for brands to follow when balancing these issues, and industry leaders from tech and healthcare shared best practices in how they balance these marketing priorities.  

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Prior Information & Consumer Search: Evidence from Eye-Tracking

  • Marketing Science Institute

Consumers increasingly make purchase decisions based on online product reviews and rankings. Meanwhile, advertising is often designed to inform about a product or service’s benefits. Within both of these scenarios, consumers learn how to dovetail new understandings into what they already know about a brand, product or service. In this study, researchers looked to quantify the impact prior information (e.g. information obtained from past purchases or use) on consumer search and purchase decisions.