Australian strategic research and consulting agency, Fifth Dimension, has released ground-breaking research which shows that consumers are open to sharing information on their psychological profile in order to receive personalised digital customer experiences.
The research undertaken by Fifth Dimension during the first quarter of 2022 explored Australian consumer attitudes towards psychological profiling and how it can provide insights into their needs.
Founded by Lyndall Spooner, a highly acclaimed expert in the field of strategy, research and customer experience (CX) with over 25 years of experience, Fifth Dimension Consulting is a respected and globally focused industry-leading strategic research and consulting agency that has amassed a distinguished portfolio of well-known clients including: Westpac, Coles, HCF, Telstra, Foxtel, Colgate and the Commonwealth Bank.
“Our research shows there are numerous mutual benefits for companies and consumers to build personalised digital experiences based on the transparent exchange of personal psychological information,” Fifth Dimension founder and CEO, Lyndall Spooner said.
“We are constantly told in the media that consumers are reluctant to hand over their personal information for fear of the information being misused or weaponised. Yet seven in 10 consumers, 72 percent, say they would be likely to provide information on their psychology so that digital services could be personalised for them.
“The younger the person, the more likely they are to share their psychological profile; 83 percent of Gen Z and millennials said they would share their personal information versus 55 percent of baby boomers.
“While as consumers we have all embraced the digital world and the convenience it brings, there is an acknowledgement that ease and speed has come at the cost of personalisation. Speed and ease is of most benefit when you have confidence in your decisions, but when you are less confident a completely frictionless and Teflon process can weaken commitment to the outcome. There is now a need to rebalance simply getting things done fast with getting things done well.
“Overwhelmingly, 83 percent of consumers believe digital experiences should be personalised to suit different people and their preferences and 81 percent would like to be able to customise how they deal with companies online.
“Consumers believe using their psychological profiling information to personalise their digital experiences will improve both their decisions and their likelihood to form positive behaviours.”
Fifth Dimension research identified key areas where consumers agree …….