However, a new survey reveals that people are curious about how their data will be utilized.
Good news, marketers: while customers are concerned about their data being misused, the misuse they are concerned about is criminal rather than commercial.
According to a survey by performance marketing business Tinuiti, over half of consumers are anxious that their data may be used for identity theft, while only 9% are concerned that advertisers will misuse it. Furthermore, only 8% said they are most concerned about things or websites they have visited online being tracked.
While customers appear to have accepted that other individuals have or will have access to their data, they are nevertheless fighting back. Only 20% believe they have control over their data, while 52% agree that there is no such thing as internet privacy. Despite this, nine out of ten people have taken some proactive steps to secure it, with more than half clearing browser cookies and turning off location monitoring on mobile devices.
Another incentive. Another way to persuade customers to contribute their data is to explain what you intend to do with it. A recent Accenture survey indicated that 73% of consumers are willing to provide more personal information if brands are open about how it is used, up from 66% in 2018.
“If you want to respect people’s privacy while also providing a valuable personalized experience, you must have a transparent customer experience that allows for both privacy and personalization,” Lisa Campbell, CMO of OneTrust, stated at The Tehub Conference.
Customers, as everyone knows, may be contradictory. According to Tinuiti’s research, 90% would rather view advertisements than pay for digital content or services, but 70% would prefer to opt out of ad tracking.
You like personalization, but they don’t. Only 29% enjoy digital ads that are personalized to their preferences. Even fewer (24%) agree with the underlying trade-off in targeted advertising, which is transferring data for something “free” online.
Consumers understand the benefits of ad tracking, but they still dislike it. More than half (54%) found it “creepy that the ads seem to be able to follow me.” At the same time, a total of 43% of respondents said this is “fine” if it maintains content free and/or “helpful” in reminding consumers of things. There is some overlap between the groups: 20% of those who think retargeted advertising are creepy also believe they are useful or appropriate if they help maintain web platforms open.
Why we care. Consumer opinions on data protection are nuanced, which presents an opportunity for marketers. Furthermore, while “personalized customer experience” is nearly marketing gospel, consumers are unimpressed. While tailored CX helps sell products, it offers no major advantage to consumers. It will need to do this in order to persuade users to provide personal information.