Zion & Zion reposted this
CEO @ Zion & Zion • Ex-Global Fortune 200 Exec • ASU CSL Board • Walter Cronkite Board • CX/ABX & CDP Industry Leader
E-commerce sites fail the “Equitability Test” when it comes to collecting Zero-Party Data. A recent e-commerce CX study from our Zion & Zion CDP Center of Excellence (n=407) makes it clear that people overwhelmingly feel that when they provide e-commerce websites and apps with information beyond the minimum required to complete an order, that the exchange won’t be equitable. Specifically, our study revealed the following: "When a shopping website or app asks for information beyond what is necessary to fulfill and deliver my order, I believe that sharing this data:" - Benefits the company far more than me 54% - Benefits the company somewhat more than me 22% - Benefits us equally 17% - Benefits me somewhat more than the company 4% - Benefits me far more than the company 2% These results and others from our study prove that how customers feel about providing zero-party data needs to be a centerpiece in any zero-party data strategy. Tealium - RudderStack - BlueConic - Hightouch - Amperity - Treasure Data - mParticle #cdp #customerdataplatforms #cx #ecommerce #zeropartydata
Nicely said. And whenever there's a compromise on the experience a customer has on a website, in whatever different ways, they aren't coming back. Companies need to start investing their efforts into upgrading that experience.
Is there a way for e-commerce sites to collect zero-party data while ensuring an equitable exchange with customers? #cdp #customerdataplatforms.
It's interesting to see those findings from your study. It really highlights a common concern among customers when it comes to sharing extra information on e-commerce sites. People want to feel that any data they provide benefits them fairly, not just the company. It makes sense; in today's digital age, we're all more aware of how our data is used. It sounds like your research underscores the importance of transparency and ensuring that customers see value in sharing their information beyond what's strictly necessary for their order. Building trust and showing clear benefits to customers in exchange for their data seems crucial. Thanks for sharing these insights!
The findings highlight a crucial gap in e-commerce's approach to collecting zero-party data, revealing that customers often perceive the exchange as inequitable. Addressing these perceptions is pivotal for crafting effective zero-party data strategies that prioritize customer trust and value exchange.
It's crucial for e-commerce platforms to prioritize transparency and customer benefits when requesting additional information. Balancing the value exchange can lead to better trust and loyalty.
Thanks for sharing Aric Zion
E-commerce sites must prioritize customer benefits when collecting zero-party data, as most customers feel the exchange is currently inequitable. Aric Zion
It's clear that many customers feel the exchange of their data is far from equitable.
Understanding customer perceptions of data sharing is crucial for building trust and equity in e-commerce interactions.
CX as a Strategy | GTM Partnerships | GDPR SME | SaaS | Marketing, Media, Adtech
1wA customer willing to share their perspectives, opinions and attitudes is indicating they see value in investing their time to enhance a relationship they must already care about. Brands mustn’t treat this lightly! It’s a huge signal of loyalty because it indicates trust and the belief it will be reciprocated. Think carefully about the promises you must keep in return for the faith the customer has just put into you. Working that back, therefore think very carefully about what data you are asking the customer to share and why.