Jebbit Releases Fifth Consumer Data Trust Index Revealing A Roller Coaster Year For Brands’ Impact On Consumer Trust
Engaging Consumers With Interactive Experiences and Quizzes Creates A Personalized Data Value Exchange That Builds Trust
Jebbit, the world’s first declared data platform, today announced the release of their fifth bi-annual Consumer Data Trust Index, a report surveying consumer trust in 100 of the world’s leading traditional and D2C companies. The survey methodology asks adult consumers in the United States to rate, on a scale of one to 10, their level of trust in brands to use their personal data in exchange for more relevant offers, goods and services, and elicits feedback on how much control consumers want over their data and how it is utilized.
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2020 was a year of crisis and opportunity that put trust to the test. Several brands saw their trust score erode while many came into favor. According to data from Salesforce, 89% of consumers are more loyal to companies they trust, while 65% have stopped buying from companies that did something they consider distrustful. The report supports the rise of first-party data and trends like quiz commerce which has become the leading strategy for brands across the globe to exchange privacy-safe data in a way that builds, rather than erodes, consumer trust.
CDTI Highlights include:
- Consumers that knowingly share information through interactive experiences like product quizzes receive data transparency and value through personalized offers, driving deeper customer engagement and trust – 62% said they prefer receiving personalized recommendations, and interactive experiences increased trust by 38.4%.
- Receiving brand communications that use data a person unknowingly shared, quickly erodes trust and ranks at the bottom – 38.9% surveyed said that personalized emails based on data they knowingly shared increased trust, while 52.8% said that personalized emails based on data they hadn’t knowingly shared decreased trust.
- Brands must be thoughtful and strategic with the data points they seek to capture as ‘asking for too much information,’ again ranked as the #1 reason to mistrust a brand – scoring 34.64% up from 31.81% in Q3 2020.
- Amazon continues to be the leader in trustworthiness, holding the #1 spot for the 5th time in a row and setting a new high at 7.05. Adidas is hot on its heels at 7.03.
- As expected, brand awareness continues to influence trust but does not guarantee a high ranking.
“With consumers caring more than ever about the data they share, it’s imperative that brands build trust by demonstrating they are using the information in a way that delivers value back to the customer,” said Tom Coburn, co-founder and CEO of Jebbit. “Jebbit is the dominant platform to exchange this data, personalizing all stages of the customer journey from engagement, education, and conversion and consistently beating benchmarks for onsite conversion rates, email open rates and overall engagement rates by providing a better and more personalized consumer experience.”
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