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Analysis of Australian consumer value in 2020 From Customology

The following is the Analysis of Australian consumer value in 2020 From Customology recommended by recordtrend.com. And this article belongs to the classification: Consumer research, User Research, research report.

Customer life cycle management expert customology released a new report “analysis of Australian consumer value in 2020”. The survey found that 74% of Australians believe that brands lie in their marketing communication.

Mark James, CEO of customology, said: “it’s like customers are invisible. Customers think that when the brand talks to them, it’s only half the truth. We are surprised to hear such a strong voice from these customers about the way the brand interacts with them. “

The study also shows that:

77% of Australians believe that new customers are more likely to be motivated than loyal customers.

55% of consumers don’t believe their loyalty will be rewarded.

63% of Australian consumers believe that recommending a brand or product should be rewarded.

82% of consumers may be tempted by competitors.

James added: “brands invest a lot of money in attracting new customers, but they see it as a database of transactions and marketing. Customers feel cheated and oversold. Ironically, the most profitable customers are often repeat customers. Brands miss important opportunities by alienating the most profitable customers. The cost of acquiring new customers is much higher than retaining existing customers. Ironically, today’s brands are still offering better deals for new customers. “

But not all of it is bad news. 64% of customers are loyal to brands without loyalty plan.

Another mistake brands make, according to statistics, is that 51% of customers don’t communicate in any form after their first purchase, even if they share their contact information.

In terms of customer communication, the survey found that:

61% of consumers think the store is working hard in marketing.

51% think they are often re marketed.

48% thought they received emails regularly.

45% thought the brand didn’t target them in a relevant way.

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