Make data policies transparent

New Ideas in MarketingEssential news for marketers, summarised by YouGov
January 29, 2021, 10:15 AM UTC

A Nielsen and The Conference Board study found 20% of consumers have reduced using or abandoned a brand due to data privacy concerns.

As brands are increasingly collecting user data to deliver more convenient, personalised and cost-effective experiences, consumers are also becoming concerned about organisations’ data policies. Additionally, 19% of consumers have reported switching to a competitor brand for its better data policies.

Consumers are no longer willing to share identifiable personal information in exchange for personalised experiences. Around 44% of consumers globally said they would be willing to forego customised content if that stops people from collecting or processing their data.

The study further found consumers would mostly prefer government-run agencies to oversee data privacy. The Conference Board’s Denise Dahlhoff said, “Consumers’ digital engagement has skyrocketed during the pandemic, making transparency about data practices more important than ever before.”

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