The Optimove 2022 Consumer Trust of Online Retailers Survey underscores that loyalty and trust are inextricably linked. Survey of 406 US consumers fielded in the 4th quarter of 2022 shows that 77% of consumers unsubscribe from brands because they feel their information is being misused. 55% said they do not trust brands with their personal information, a slight bump up from the 48% of respondents from Holiday Shopping Survey of 514 consumers fielded in August 2022.
GLOLeery consumers say their top fear is that “their identity will be stolen” when personal information is shared with marketers. Further respondents feel that the brand may be in control of a consumer’s personal information. And eight out of ten said that the control of their personal information is “very important.”
While this is the overall current state of trust, forty-one percent (41%) of respondents think the trust between consumers and brands is eroding (getting worse).
The most important actions brands can take to win consumer’s trust is to 1) have a policy that information will not be shared (56%), and 2) know that a brand “asks permission” before sharing suggestions for shopping (31%).
While this report underscores key issues that erode trust between consumers and brands, brands can embark on marketing that starts with the needs and wants of each customer. In doing so, marketers go beyond segmenting customers into broad groups — to responding to customers individually. Brands need to know their VIP customers and give each consumer what he or she wants where and when they want it.
Marketers’ ability to listen to and respond to customers builds trust – and in turn, loyalty. With loyalty, customers become engaged with the brand, which drives sales and margins and increases customer lifetime value.
