Despite all the hype surrounding Big Data, it's the small data – the customer's data – that really affects the bottom line. Millennials in the U.S. will respond to brands when they use data specific to them to create a contextualized and personal customer experience, according to a new study by SDL.
The survey findings are featured in SDL's second report of the "Five Truths for Future Marketers" series, "Your Data Trumps Big Data." This report examines the need for marketers to analyze customer data above all other data to gain a competitive edge in customer experience management, particularly when marketing to millennials.
Consumers in the millennial generation are increasingly aware of the data that brands are collecting on them, but reactions to this differ around the world. In a global study by SDL, more than 40 percent of millennials in the U.S. could identify the digital data that brands are using to track their behaviors, setting the expectation that marketing touch points should be personalized, contextual and timely.
While this might be unique to brands in the U.S., this data identifies the need for a fair value exchange when it comes to successful customer experience management. However, global data dictates that what consumers find valuable is what should resonate most with brands. In the U.S., brands should give more to get more when it comes to their customers, but they should not take the same approach around the world, as millennials have expressed concerns over the use of their personal information.
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