Young adults are more willing than their older counterparts to share personal information with brands, a new study has revealed.
According to research carried out by YouGov for Epiphany, 19 per cent of 18 to 24-year-olds would be happy to share more data if it mean they got a better customer experience, such as more targeted ads, as a result.
By contrast, only five per cent of those aged 55 and over said the same.
Similarly, 55 per cent of the older demographic revealed they would prefer not to see adverts that target them online. This compares with 43 per cent of 25 to 34-year-olds.
Tom Salmon, Managing Director of Epiphany, commented: “More of us are happy to give over some level of personal data in exchange for better experiences or service.
“Of course, for marketers, this means that the developments in AI, machine learning and processing power, which underpin these trends, are increasingly important to understand.
“For example, does content create better customer experiences? Do your data feeds work to give customers what they’re looking for?”
Mr Salmon stated that if brands are looking to address these issues, they need to identify any gaps in what they know about their customers’ journeys and continue “learning and improving.”
This, he said, can be done by using the data to put together as complete a picture as possible, as this will make it easier to see where gaps exist and what channels these relate to.
Mr Salmon went on to argue that a more comprehensive understanding of the customer journey means brands can have a better idea of when people will be willing to share personal information and know what they expect in return.
“Audiences are using new platforms to search and find what they want, so look beyond search and build up a bigger picture of where your audience is spending their time and what they are doing,” he commented.
Mr Salmon added that targeted communications can deepen relationships with new and existing customers and provide more useful data.
This, he said, can in turn be used to further enhance in-site recommendations and create a “virtuous circle of activity and an engaged, satisfied audience.”