The Tug of War Between Privacy and A Personalized Experience [Infographic]

When it comes to the modern consumer, lack of delivering a personalized experience is costing companies trillions—$2.5 trillion globally, to be exact.  

For consumers, the importance of hyper-relevance for a personalized experience is the sentiment of a recent infographic in Adweek, published in partnership with global consultancy firm Accenture Interactive.

Think about it. Amazon personalizes your shopping experience, Spotify your music experience and Netflix/YouTube your entertainment experience. Why wouldn't brands be held to the same expectation?

Consumers don't want to give brands more information, which "paradoxically, is what brands need in order to deliver such experiences in the first place." So now what?

Enter AI, machine learning and digital assistants, according to Robert Wollan, senior managing director and advanced customer strategy global lead at Accenture Strategy. While these new technologies will enable marketers do more with less, it's also critical, as Wollan outlines, to reassure consumers their data is secure.

The case is no different in experiential marketing. Brands that use personalization for as many touchpoints as possible during a campaign—everything to registration, the digital assets they interact with and post-event communication—win big.

The following infographic outlines the tug and war between hyper-relevance and trust, as well as a few insights into what marketers are currently doing to personalize.

• 49% of U.S. consumers are concerned about their personal data privacy when subscribing to intelligent services.
• 40% of U.S. consumers would provide personal data to companies online to get more tailored experiences.
• 54% of retail marketers are using AI-driven personalization across channels to drive growth, 55% are using pages and content viewed and 47% are using location.