By Magalie Lasfargues
Director of Strategic Services for EMEA at Cheetah Digital
LConsumers have put up a wall to protect themselves from unpleasant interlocutors and have raised their standards regarding the brands they spend their money on.
Today, customers are looking to buy from brands that demonstrate social responsibility . And, what's more, that they listen, ask for consent, and take their privacy seriously . This is what is called the Trust Economy , and it is something that all brands should consider as a priority within their strategies.
Economy of trust: exchange of value
With each person exposed to over 5,000 marketing guatemala business email database messages every day, brands must strive to create that magical moment that captures attention and facilitates direct engagement with consumers. But how can retail brands cut through all the marketing noise?
The answer is to offer a tangible value exchange . Value exchange is when marketers offer consumers something in return for their attention, engagement, and data about their preferences. And it doesn’t always have to be a discount or a price written in red letters. Exclusive content, social media recognition, personalized recommendations, and loyalty points can be the catalyst for collecting opt-ins (or one-time confirmations) and zero-party data (or data shared intentionally by customers).
Brands should forgo purchasing dubious third-party data and spying on consumers. Instead, they could strive to build more honest, direct, and mutually valuable relationships with their customers . Not only does this give brands an edge, but it provides an exchange of value in return for consumer data, engagement, and loyalty. Allowing brands to connect directly with their customers and drive more personalized initiatives.