Monthly Archives: January 2018

Recipero

Data disconnect: marketers struggling to understand their customers

Despite increased sophistication in how data is being collected and used, new research by Callcredit Information Group has revealed that marketers are struggling to really understand their customers’ needs and expectations.

Whilst almost two-thirds (65%) of marketers believe that smart marketing has helped them outperform the competition, the ‘So you think you know your customers?’  report revealed that marketers may not have as clear a view of their customers as they think. In fact, 47% of marketers believe that more than half of their customers have a very high understanding of how companies use their data. But in reality, less than one in ten (9%) consumers feel this way.

The research uncovered a number of further significant differences in what marketers believe customers think and what they actually do. Three in five marketers (61%), for example, think that consumers are frustrated with the way businesses access and use their data. In truth, fewer consumers (52%), although still a large number, say they are exasperated with this.

Similarly, a majority (81%) of marketers believe customers have become more selective about whothey allow to access their data. Whilst the number of consumers (62%) who have become stricter on this is significant, it is lower than marketers think.

This disconnect is leading to missed opportunities and ineffective marketing efforts. Whilst almost half (47%) of consumers have become less likely to respond to promotions, for instance, just 30% of marketers have taken note of this trend.

Steve McNicholas, Managing Director, Credit and Marketing Data, Callcredit Information Group, commented: “With truly data driven businesses having the competitive advantage in today’s digital environment, marketers must – first and foremost – ensure that they really understand their customers’ data expectations. Without this insight, no matter how smart their tactics, marketing strategies will fall short of expectations.”

When comparing this year’s (2017) responses to those asked in Callcredit’s ‘The Data Dilemma’ report last year, it’s evident that marketers are using a growing number of data sources to inform their decisions. The use of internal sources such as CRM and marketing data, for example, has nearly doubled in usage – from 37% in 2016 to 67% this year (2017). Interestingly, one in five (21%) marketers still see providing clear directives based on customer data insights as their biggest challenge.

McNicholas continued: “One of the main reasons marketers don’t have as clear a picture of what their customers think, is because the growing number of data sources is making it difficult for them to determine what data is useful and what is not. There are a number of steps marketers can take to overcome this problem, including setting up a preference centre to ask customers how they want to be marketed to and figuring out what data actually improves the effectiveness of their efforts. As understanding their customers will become even more critical for businesses once the General Data Protection Regulation comes into effect later this year, the time for marketers to get smarter is now.”

To find out more on Callcredit’s seven tips on how marketers can get smarter and improve their understanding of customers, download your free copy of the ‘So you think you know your customers?’ report.

200 marketing decision makers with responsibility for customer insight completed an online survey in September 2017. This was supported with an online survey amongst 2,004 UK consumers. The research was conducted by London-based research agency, Loudhouse.

CheckMEND, Crime, Fraud, Immobilise, Mobile Phones, Recipero

Don’t get hung up with fraud this New Year and check for warning signs when buying a second hand phone

Mobile phone fraud prevention specialist, Recipero, part of the Callcredit Information Group, is urging consumers and retailers to undertake device checks when buying a second hand phone to avoid becoming a victim of fraud during the January sales and beyond.

Recipero’s CheckMEND data* reveals, that the number of device checks made on second hand iPhones has almost doubled in the last four years, highlighting the growth in the size of the second hand phone market and the increased awareness amongst some consumers and retailers of ensuring the legitimacy of second hand phones.

Last January there was a spike in the number of iPhone checks performed via the Recipero CheckMEND service. More than 1.3 million checks took place (more than 400,000 up on the month before) and Callcredit’s analysts are expecting upwards of two million at the start of 2018.

Mark Harman, Managing Director of Recipero, said: “Even though our findings highlight that there has been an increase in second hand iPhone device checks, fraud is prevalent in what is a market for increasingly expensive devices. Latest ONS crime figures, compiled from the Crime Survey for England and Wales, show 401,000 mobile phones were reported as stolen in the 12 month period ending March 2017. It’s important that consumers and retailers take the necessary precautions and check the history of a device.”

The Recipero data also revealed a surge in the number of searches on the CheckMEND database following the introduction of new iPhone models – as it shows the number of device checks being performed increasing by over a third (36.6%)** in the period after a new release.

Mark concluded: “A check on a second hand phone includes a device life history that starts at the point of manufacture, through ownership changes, right up to it being recycled. The device is checked against IMEI, a phone’s unique reference number, loss and theft reports and police crime reports in the US and UK, insurers title information and settled claims.
These checks provide information which will flag up (red) in a CheckMEND report if the device is compromised, helping to protect those purchasing a second hand phone from acquiring a lost or stolen device.”

*Based on CheckMEND UK data of number of checks made on iPhones each month from Jan 2014- Dec 2017 inclusive. Taken from the Recipero database which is part of the Callcredit Information Group.

**Based on the average number of CheckMEND iPhone device checks two months prior to a new iPhone launch and the average for the two months following.