Brands Struggle to Effectively Obtain and Deploy Consumer Data According to L2 Report

NEW YORK, Dec. 13, 2017 /PRNewswire/ -- Digital benchmarking firm L2 Inc releases its 3rd annual Intelligence Report: Data and Targeting 2017

The L2 report evaluates the use of consumer data in one-to-one marketing for 107 consumer brands across the Activewear, Beauty, Big Box, Department Stores, Fashion, Specialty Retail, and Travel sectors. The report provides key digital strategies and best practices for brands to effectively capture and leverage data as it relates to personalizing brand engagement across channels, classifying brands as Leaders, Streamliners, Data Miners, or Laggards.

"Digital media and advertising is increasingly riddled with irrelevant, if not flat out deceptive, content," noted Mike Froggatt, Director of Intelligence Research at L2. "This is taking a toll on consumer trust, and many of them are taking matters into their own hands by installing ad blockers as they attempt to avoid cluttered and unrelated advertising."

Key Findings from L2's report include:

Skipping the Basics: Twelve percent of brands succeed at offering personalization without collecting much consumer data. However, failing to collect basic data points such as birthday (59 percent), gender (46 percent,) and age (34 percent) often leads to misgendered or age inappropriate messaging.

Lack of Informed Consent: Only 8 percent of analyzed brands supply a prominent and succinct explanation of their use of cookies. While 78 percent of analyzed brands make some effort to explain the benefits of signing up for an account, only 50 percent clearly explain the benefits of signing up for an email newsletter (e.g. exclusive offers and promotions).

Email Personalization: Once customers make the leap to register for a brand site account or newsletter, they are largely unable to customize the content and benefits they receive. Just 11 percent of analysed brands prompt users for their content preferences and only 13 percent offer the ability to choose the frequency of email communications.

"Very few brands effectively deploy data on a consistent basis," explained Evan Neufeld, VP of Intelligence at L2. "The truth is that brands may never achieve the perfect system for storing and using consumer data, but they cannot let perfect be the enemy of good. Incremental data improvements pay major dividends in terms of personalized marketing and meeting the rising tide of consumer expectations."

The report features case studies on brands including but not limited to: Adidas, Best Buy, Lululemon, Macys, Topshop, Urban Decay, and Warby Parker.

To access a complete media-only copy of L2's Intelligence Report: Data and Targeting 2017, contact [email protected]

About L2

L2 benchmarks the digital performance of over 2,200 brands across 12 industries globally. Our proprietary Digital IQ Index is the global standard for measuring digital competence. We analyze 1,250 data points to provide brands with actionable, data driven insights on their digital performance.

SOURCE L2

Related Links

http://www.l2inc.com