A new poll from Harris Interactive, commissioned by Chordiant Software, finds that consumers, to varying degrees, believe it's important that companies have information about their buying habits and other personal details to provide the level of service they seek.
According to the study, 64 percent of respondents thought it was either "very important" or "important" that companies had a personal history on them.
Having the information is one thing but what consumers are most interested in is what is done with it. Today's consumers, according to the study, are willing to walk when they feel even the least bit slighted.
Sixty-two percent, for example, said they would not hesitate to cancel or switch service or product suppliers after having a bad experience. Seventy-eight percent said poor customer service would cause them to shop elsewhere.
"There's a whole generation of people coming up that will vote with their feet," Frank Florence, VP-chief marketing officer of Chordiant Software, told AdAge.com. "They say, 'I expect Bank of America to know me this well. I'm on Facebook, and everyone knows me. They know I like cheese ravioli.' "
Younger consumers seem particularly unwilling to understand subpar performance from the companies they patronize. They are more than willing, however, to go online and share their bad experience with thousands of people.
"Your brand is impacted by all of your customer interactions," said Bruce Temkin, an analyst with Forrester Research. "Today there are many more opportunities for the customer to interact with your brand -- and there are many more opportunities for people to discuss the interaction they had."
Discussion Question: Are you surprised that more consumers seem willing to share personal information with retailers and other companies? Are retailers and others really taking this information to provide a higher level of service to consumers? Where do you see the greatest opportunities for retailers to take personal information and translate it into a more meaningful relationship with shoppers?