Consumers are willing to surrender some information about themselves in return for personalized advertising, according to a study by video advertising firm Clinch.
Of 535 people surveyed via SurveyMonkey, 64% are comfortable with brands collecting demographic, social media profiles and other data in return for a more relevant experience.
And they are not happy with what they are now seeing. For example, 31% say that digital ads are tailored for them most of the time. And 35% complain of seeing the same ad too many times.
“Not recognizing the power of personalization is a big misstep among marketers,” said Oz Etzioni, CEO, Clinch. “The data, creative tools and technology are available.”
Etzioni adds: “Personalization needs to be pervasive across platforms and ad units. Unifying data and creative to create holistic campaigns is critical as consumers move through their digital lives consuming all different types of content throughout their day.”
Of the consumers polled, 79% find Facebook to be the most effective platform. Next are Instagram (56%) and YouTube (47%).
The study also found that 70% have purchased a product or service after seeing an ad on social media, and 57% within the last 12 months. Of those, 60% bought between two and five products.