Four in five people now accept disclosure of personal information as ‘a fact of modern life’, research from the Direct Marketing Association has revealed, with 35% regarding their personal information as a commodity to be traded with companies in exchange for free services or better benefits.
The ‘Data privacy: What the consumer really thinks’ report, conducted by Future Foundation, found that control over disclosure was important, with 85% of respondents preferring to retain control of their information and exchange it for benefits or services when it suited them.
It was discovered that 58% cite trust alone as being the most important factor when deciding whether or not to share their information, while 32% said the offer of price discounts would be a sufficient incentive.
Chris Combemale, chief executive of the DMA, said: “Online platform owners and brands that market digitally must understand the current range of consumer views on data privacy. Insight into what they regard as private, what information they’re willing to exchange and under what circumstances should underpin their marketing strategies.
“The balance of power is now tilted towards consumers. They alone have the ability to choose who they share their information with, so it’s down to brands to give them a compelling reason to do so.
“This piece of DMA research highlights that unless brands are trusted, provide people with the opportunity to control how their data is used and suitably reward consumers for sharing it then they will be left behind in the digital economy.”
Data privacy image via Shutterstock.