While data privacy is the subject of much debate, 51% of consumers are happy to share their data with businesses if there are clear benefits for doing so, research has revealed.
Research revealed in the ‘Global data privacy: What the consumer really thinks’ report, commissioned by the GDMA (a group comprised of 27 marketing associations around the world), DMA UK and Acxiom, show that across the globe there is a mature, empowered consumer mindset to online privacy and data exchange.
Globally, more than half are still happy to exchange their data, despite 74% having some degree of concern about their online privacy.
However, 83% of consumers across all 10 markets surveyed stated that they would like more control over their personal information.
DMA’s chief executive Chis Combemale said: “We are in a new era of data privacy. Questions have been raised about whether major data breaches and increased talk about the value of our personal data is impacting consumer anxiety over how their information is used.
“In fact, our research shows that even though consumers are more aware than ever and have concerns about their online privacy, the majority will continue to share their personal information if they trust the organisation and gain something in return.”
Acxiom’s European marketing director Jed Mole said: “It is good to see consumers taking data privacy seriously, though it’s important to understand, they do vary in terms of how they view this subject.
“The clear trend is towards greater real-life acceptance of data exchange as part and parcel of everyday life. This is good news for marketers who believe in data ethics and adopt the highest standards in data-driven marketing.”
With 78% of consumers feeling that businesses benefit disproportionately from data sharing, the research highlights the need for clear explanation of benefits to consumers.
Combemale said: “The post-GDPR era is essential for organisations to continue to build and maintain trust with their customers – it is an ongoing process that must remain a key priority on a company’s agenda.
"If organisations clearly display the benefits of data exchange to consumers, such as receiving personalised and tailored services, our research indicates that consumers will respond.”