Two banks drop suit against Target
New York — Two U.S. banks have dropped their lawsuit against Target Corp. and its credit card security assessor, Trustwave Holdings Inc. The banks had accused Target and Trustwave of failing to properly secure customer data, leading to the retailer’s data breach during last year’s holiday season.
The banks, Trustmark National Bank and Green Bank N.A., which had accused Target and Trustwave of failing to properly secure customer data, offered no reason for their dismissal of the suit. They said they would dismiss their cases "without prejudice to re-filing,” according to the filings.
Survey: Millennials expect brands to be upfront
St. Louis — Whether shopping alone or in a group, Millennials remain digitally connected contacting friends and family for advice or opinions via text, phone call or social media, according to a survey conducted by Mooslyvania, an independent digital advertising agency. While 57% surveyed said they tell their friends about their purchases, 44% prefer to "show off" their purchases, even if it’s in subtle ways.
Millennials fully expect marketers to be upfront when it comes to answering questions, to practice what they preach, and build trusting relationships with them by using context-driven content spread across a variety of platforms. It’s definitely not a one-hit ad crowd, according to the survey.
“For years, advertising served the role of reassurance and endorsement," said Norty Cohen, founder and CEO of Moosylvania. "That role has changed tremendously. Our job as marketers is to understand how dynamically the connectivity of the next generation of consumer is evolving. For example, 40% of these Millennials have signed up to receive emails from their favorite brands. Think about that – the average person looks at their phone more than 150 times a day – and email is right in there with social media for this hit of self-assurance."
In addition to Facebook (59%), the top ways in which Millennials advocate for their favorite brands include telling their friends (57%) and shopping in-store (54%). Facebook is also a natural stopping-off point for Millennials to learn more about brands they love. In fact, the ubiquitous social media platform outranks brand websites almost two to one as the go-to for product discovery.
Report: Online location search issues are eroding brand trust
Denver — Consumers are increasingly frustrated with location search, with many losing trust in brands due to outdated and inaccurate data, and even turning to competitor businesses. According to a new research report from location data services provider Placeable, “Be Found: Location-Based Marketing Insights,” consumers are all too often given outdated and incorrect information from search engines, mobile apps, directories and even brand websites.
Key findings in the report, based on a survey of more than 1,000 U.S. consumers and marketers, include:
• 73% of consumers say they lose trust in a brand when the online listing shows incorrect information.
• More than two-thirds (67%) say they lose trust in a brand if they get lost walking or driving to a location because of an incorrect address listing.
• More than 60% of consumers would go to a competitor if they received a special offer while searching for a specific business.
• 55% say they consider it helpful when ads are personalized to their needs and interests.
The survey also found that marketers are outpacing consumers in adopting habits that drive brand engagement, and ultimately, brand growth. Marketers were found to desire more personalized offers from brands, and are adopting mobile habits at a faster pace by more often using their smartphones to find brand location data on the go.
“Consumers are being given the wrong location, wrong operating hours, and a myriad of other misinformation that is leaving them disappointed, angered, and in many cases, turning to competitors,” said Ari Kaufman, CEO, Placeable. “Marketers are not just failing to recognize that consumers are becoming frustrated with local search, they’re missing the connection between bad location data and brand loyalty, and ultimately, brand profit.”