Kindly hosted by : GDPR: Now the Dust has Settled 12 February #FSFEvents @TheFSForum - @WPNChameleon - @REaD_Group - @davlund The Financial Services Forum C ORPORATE P ARTNERS :
Kindly hosted by : Scott Logie REaD Group #FSFEvents @TheFSForum - @REaD_Group The Financial Services Forum C ORPORATE P ARTNERS :
readgroup.co.uk A DaaS company Post GDPR – what are consumers thinking? Scott Logie, Director of Customer Engagement, REaD Group scott.logie@readgroup.co.uk @scottlogic
readgroup.co.uk A DaaS company Giving brands the right to be personal
readgroup.co.uk A DaaS company REaD Group services Unrivalled data Market leading Transformational Data cleaning technology Actionable insight High impact The definitive GDPR Performance marketing toolkit
readgroup.co.uk A DaaS company Talking the consumers’ language: Research
readgroup.co.uk A DaaS company
readgroup.co.uk A DaaS company Are you aware of the General Data Protection Regulation (GDPR)? Marketers thought this 90% would be 41%! said yes Source: Foresight Factory/DMA Customer Engagement Research: Base: 2016 online respondents aged 16+, GB, June 2018
readgroup.co.uk A DaaS company Reaction to GDPR Which of the following have you received in the last threemonths? 100% Emails/letters/messages 80% from brands / companies about updates to their privacy policy 60% Emails/letters/messages from brands / companies asking you to re- consent or "opt-in" to allow them to 40% continue to communicate with yo Don't know 20% None of these 0% Baby-boomers Female Generation Y Generation X ABC1 C2DE Total Male Source: Foresight Factory/DMA Customer Engagement Research: Base: 2016 online respondents aged 16+, GB, June 2018
readgroup.co.uk A DaaS company Reaction to GDPR Roughly what % of emails have you replied to AND opted-in /re-consented? 100% Not asked Not sure 80% NET: Less than half -50% 60% NET: More than half 40% 20% 0% Female 16-24 Male 25-34 35-44 45-54 55-64 65+ Total
readgroup.co.uk A DaaS company Marketers View
readgroup.co.uk A DaaS company Post GDPR How to build long term loyalty and trust.
readgroup.co.uk A DaaS company Stability since 2017 100% Active loyal 80% 40% 50% 49% Habitual loyal 60% 23% 13% 16% Situational loyal 40% 9% 15% 14% Active disloyal 20% 27% 22% 21% 0% 2016 2017 2018 Source: Foresight Factory/DMA Customer Engagement Research: Base: 2016 online respondents aged 16+, GB, June 2018
readgroup.co.uk A DaaS company BUT! Consumers Feel Less Loyal “I feel I am less AGREE DISAGREE than a year ago” 18% loyal to brands and companies now 39% Source: Foresight Factory/DMA Customer Engagement Research: Base: 2016 online respondents aged 16+, GB, June 2018
readgroup.co.uk A DaaS company Why are people feeling less loyal? “Why do you feel less loyal to companies and brands?” (based on open -ended answers) Price 23% Choice / competition 22% Lack of trust / corporate 17% focus Maximising / shopping 16% around / need to budget Lack of reward / lack of 13% returned loyalty Lack of / decreasing quality / 12% service Bad publicity 4% Source: Foresight Factory/DMA Customer Engagement Research: Base: 669 online respondents who agree they are less loyal to brand than a year ago aged 16+, GB, June 2018
readgroup.co.uk A DaaS company Today’s Youth are Cautious
readgroup.co.uk A DaaS company Function and Ethics Consumers want brands to be functional:
readgroup.co.uk A DaaS company So what drives loyalty? Functional 88% Financial 56% CSR 55% Brand Charisma 50% Self-fulfilment 48% Service 47% Reward for Loyalty 26% Source: Foresight Factory/DMA Customer Engagement Research: Base: 1356 online respondents aged 16+, GB, June 2018
readgroup.co.uk A DaaS company Post GDPR Acquiring new customers in a complex environment.
readgroup.co.uk A DaaS company Sources of inspiration Q. How do you typically find out about new products and services? TV 45% Online search 43% Family and friends 37% Online shopping sites 37% In stores 36% Magazines/Newspapers 22% Brand websites 22% Marketing emails 79% 21% Consumer reviews 20% Price comparisons sites 19% Video websites and apps (e.g. YouTube) 13% Magazines/Newspaper websites or apps 12% Marketing messages I see on social media 11% DIGITAL vs TRADITIONAL? Marketing messages I see when browsing online 11% Outdoor advertising 11% Celebrities, vloggers, bloggers 6% None of these 4% Other (please specify) 1% 0% 20% 40% 60% 80% 100% Source: Foresight Factory/DMA Customer Engagement Research: Base: 2016 online respondents aged 16+, GB, June 2018
readgroup.co.uk A DaaS company Sources of inspiration Q. How do you typically find out about new products and services? TV Baby-boomers Generation Mean number of Mean number of Online search traditional sources digital sources Generation X Generation Y 1.5 2.1 Online shopping sites Millennials Generation X 1.8 2.1 Family and friends Baby-boomers 1.9 1.7 In stores Video websites and apps (e.g. YouTube) Brand websites Marketing emails Marketing messages I see on social media Consumer reviews Price comparisons sites Celebrities, vloggers, bloggers Outdoor advertising Marketing messages I see when browsing online Magazines/Newspapers Magazines/Newspaper websites or apps None of these Other (please specify) 0% 20% 40% 60% 80% 100% Source: Foresight Factory/DMA Customer Engagement Research: Base: 2016 online respondents aged 16+, GB, June 2018
readgroup.co.uk A DaaS company Preferred way of receiving messages Q. What way do you prefer to receive marketing messages? Rank options from most preferred to least preferred NET: Rank Top 4 NET : Rank Bottom 4 100% 10% 80% 30% 60% 45% 48% 49% 62% 40% 72% 20% 84% 90% 70% 55% 52% 51% 38% 28% 16% 0% Email Post Text message Social media (e.g. Online (e.g. Face-to-face Messenger app Phone Facebook, banner (e.g. Facebook Instagram, Twitter) advertisements) Messenger, WhatsApp) Source: Foresight Factory/DMA Customer Engagement Research: Base: 2016 online respondents aged 16+, GB, June 2018
readgroup.co.uk A DaaS company Email is consumers’ preferred channel Q. What way do you prefer to receive marketing messages? Rank options from most preferred to least preferred 100% Ranked top 2 Ranked bottom 2 80% 73% 59% 60% 41% 40% 35% 29% 24% 23% 23% 23% 19% 17% 20% 13% 11% 5% 4% 3% 0% Email Post Social media (e.g. Text message Online (e.g. banner Face-to-face Messenger app (e.g. Phone Facebook, Instagram, advertisements) Facebook Messenger, Twitter) WhatsApp) Source: Foresight Factory/DMA Customer Engagement Research: Base: 2016 online respondents aged 16+, GB, June 2018
readgroup.co.uk A DaaS company Marketers are focussed on Email and Social
readgroup.co.uk A DaaS company And over value Social and under value Post
readgroup.co.uk A DaaS company
readgroup.co.uk A DaaS company THANK YOU readgroup.co.uk REaD Group enquiries@readgroup.co.uk The Pavilion 1 Newhams Row Bermondsey Street 020 7089 6400 London, SE1 3UZ REaD Group Ltd REaD_Group
Kindly hosted by : John Watson WPN Chameleon #FSFEvents @TheFSForum - @WPNChameleon The Financial Services Forum C ORPORATE P ARTNERS :
Di Direct ect Mail After Mail After GD GDPR PR JOHN WATSON Chairman and Group Chief Executive
Aft After er GD GDPR PR … • Limited cold data • Limited opted-in warm data • Internal regulatory concerns over Legitimate Interest • Usable data pools are smaller AND THAT’S NOT ALL…
Posta ostage ge cos costs ts ha have e squ squeez eezed ed ROI OI
‘Inside’ and ‘outside’ the envelope 2008-20 2008 2018 18: : 10 100k 0k Inside the envelope Outside the envelope Print, laser and enclosing cost Discount bulk postage Letter A4 2008 15p per pack Reply Form A5 2018 23p per pack Outer Envelope C5 +53% Reply Envelope C6 Leaflet 6pp A5 roll fold 2008 22p per pack 2018 26p per pack +18%
The he Silv Silver Lining? er Lining?
GD GDPR PR ha has i s impr mproved ed tar targe geting ting • Genuine opt-outs are the people least likely to respond • Quality data is therefore more concentrated • Mail volumes are lower, reducing postage costs, with only marginal declines in targeting • Mailing frequency to best targets is – because of GDPR and compliance issues – at a low point • Leaving the field clearer than it’s even been So you’re now writing to fewer people, but they’re more interested in what you have to say…
And with the more interested consumer, it’s time to go back to what makes mail work best of all… • It tells a story as no other medium can • It gives you time …it gives you space • The more complex your story, the better mail will work • So the more story you have to tell, the better the result you’ll get (more of which later!) • Therefore the higher the value of the transaction • Therefore the better the lifetime value
After all, you’re paying a lot for that space…
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