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Brands missing a trick as UK consumers unaware of tailored experiences
Cambridge – A new survey conducted by Radius Global Market Research (Radius GMR) has found that despite the large number of options available to them, nearly half of UK consumers (45%) are unaware of customisation choices available to them. Additionally, even when consumers are aware, brands are only getting their customisation efforts right less than 30% of the time, on average.
The Radius GMR survey also highlighted that there are the biggest opportunities for those working within the technology, entertainment and beauty industries; however other sectors that may likewise benefit include FMCG and financial services.
Key findings of the survey, which provides insight into how consumers currently view and value customisation, include:
UK consumer awareness lags behind US counterparts
Whilst US consumers enjoy relatively high levels of awareness of customisation options open to them (peaking at almost 75% awareness in under 35s), consumers in the UK remain uninformed of the choices open to them (falling to 50% awareness amongst those who earn less than £40K per annum).
Consumers are loyal to Loyalty Programmes
Customisation has a number of advantages from a business point of view as it can command higher prices, free publicity and greater brand allegiance. Marketers looking to customise the brand experience for consumers should look to loyalty programmes as a place to start. Loyalty programmes topped all other customisation methods, in every category, based on a combined measure of consumer interest (67% on average) and utilisation (58% on average).
Whilst customisation can retain customers, they don’t want too many options
Customisation should not equal proliferation – 40% of consumers already feel that there are already too many options open to them. With only 30% of brands ‘getting it right’ from a consumer’s point of view, marketers should ensure that they are offering the right kind of customisation for their brand and communicate the value of it effectively.
Where there is awareness, consumers understand the benefits of customisation
Consumers who are aware of customisation have a clear understanding of its potential benefits. Top of their list is being able to stay in the know about new products and services (48%). They also appreciate the convenience such as less time spent shopping and making fewer trips to the shops (40%). Customisation is also seen as a way to reduce waste by receiving less of what they do not want or won’t use (31%).
“Radius GMR’s survey shows that consumers are potentially very receptive to efforts to customise the brand experience,” says Jeanette Vivier, Director, Radius Europe.
“But if marketers don’t do the homework involved to provide and communicate highly relevant benefits to their specific audiences, they are unlikely to capitalise on the opportunity.”
The study also found that that where awareness was present, men and women view the value and relevance of customisation differently. Women see the most value when it comes to skin and hair care (51%); fashion and apparel (43%); and health and wellness (42%). Men on the other hand want customised offerings in technology (40%); television/movie entertainment (40%); and banking services (36%).
Radius GMR surveyed consumers in the USA and UK and covered a broad array of industries. Results also reflect expert interviews and extensive secondary research.