d e r e v li e d, d e eal d, s Thirdly, when people have absolute When customers willingly share their data, e gn it suggests a level of buy-in to whatever i control over their data, businesses S the brand is offering. Companies spend an   will have to work harder via loyalty 05 average of 10% of revenue on marketing, but programs and incentives to reward the average conversion rate is between customers for sharing their data. 101, 102 2-5% because the quality of data is poor. Experimenting with new avenues to grow This is a renegotiation of the established first-party data and increase conversion rates dynamic from the past decade. People who will prove to be lucrative. trust a brand will want to offer their data in exchange for benefits offered. We expect When someone shares parts of their digital to see brands plugging their loyalty apps identity with a brand, a rich profile will be into people’s digital wallets as a strategy to built, telling a deeply personal story about fit seamlessly into their lives and earn their them. This will enable more accurate and trust—and their data. Ultimately, loyalty personalized marketing. programs will improve when customers own the data the programs collect, such that However, all this comes with a major caveat: it can’t be sold on. This aligns incentives: despite the obvious advantages, will there marketers will want and need to be be significant adoption? Tokens represent trustworthy because if they aren’t, they won’t a huge design challenge. There will be a have consumer data to work with. They will transition point where the technologies compete to become the most trusted brand that are in the foreground today (i.e., in their category because customers will tokens, blockchain, Web3), will fade into have the power to go where they want, buy the background and just become part of what they want, and share what they want. digital experiences. As much as any new technology we can remember, adoption will require excellence in experience. + paper cut-outs, Pop-up book, paper cuting , aspect ratio 3:2, upbeta, algorithm version 4 Copyright © 2022 Accenture. All rights reserved. 70