Marketers are excited about retargeting ads, behavioral analysis, and other tactics that leverage consumers’ personal information to increase marketing impact. But, how do consumers feel?
- The average American considers their location data almost as sensitive as a list of the medications they take.
- 18-29 year olds are more likely than any other age group to take steps to hide their digital footprint. (Really. Forget everything you’ve read about Millennials not caring about privacy.)
- Consumers believe there is a big gap between the personal data they knowingly share and the data that companies collect. They deeply resent that gap.
- The majority of Americans are conflicted about trading personal information for discounts or benefits. They often make the swap and then regret it because their data is used in ways they never anticipated.
- Consumers frequently use the word "creepy" to describe how businesses use their personal data.
- Almost 75% of Americans are not confident that retailers and brands keep their personal information secure.
What’s a marketer to do? Consumers are comfortable sharing if a company provides a concise, complete description of how their data will be used and delivers compelling, personal benefits in return.
What are the implications for your business?
- Is your data collection and data use policy short and crystal clear? (A terms of service policy buried on your website doesn’t count.)
- Do you provide valuable personal benefits to consumers who share their information? ("More relevant ads" doesn’t count.)
For help developing powerful digital strategies that work, compelling marketing strategies that drive results, strategic plans that deliver growth, or new products that consumers love, contact Brandology at 925-417-2253 or Maura@Brandology.com.
Sources: Microsoft 2015, Pew 2016