A Quarter Of Consumers Will Dump A Brand After Bad Personalization: Study

One fourth of North American consumers have stopped doing business with a company because of poor personalization, according to a study by Broadridge Financial Solutions Inc.

Millennials are most likely to bolt, with 35% saying they will do so.

Moreover, 35% overall say that brands need to improve the communication experience.

For one thing, they’re unhappy with billing —only cleaning bathrooms ranks as a less favorite activity, with 24% citing the former and 20% the latter.

One respondent writes: “I wish instead of receiving an email letting me know my statement is available and then having to sign in to my account, that my statement was just included in the email.”

Of those polled, 43% receive bills by digital means only, and 30% by print and digital — the study refers to those as “the costly "double dippers."  And 27% prefer mail or print only. Overall, 62% have switched at least some of their bills to digital. 

Of the digital-only consumers, 60% feel student loan companies are better at getting them to go digital. These are followed by banking/investment/retirement funds (48%) and utilities (30%).

Despite the shift to digital, 50% of consumers say printed bills and statements are vital, and 34% believe print will be important in five years.

Of the baby boomers polled, 49% would be upset if print were cut off as an option, vs. 38% of millennials.

Digital communications allow firms to reduce operational and call center costs by creating self-service options.

"Consumer expectations have changed dramatically in the digital age and brands need to increasingly look to engage their customers in meaningful ways," states Matt Swain, managing director and practice lead for communications consulting services, Broadridge.

He adds: "Essential communications, like bills and statements, offer a unique, yet often underutilized, opportunity to provide a personalized experience for customers."

Broadridge surveyed 3,004 consumers in the U.S. and Canada.


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