Infographic: Data privacy a ‘critical brand differentiator’, new research reveals
Data privacy is now a “critical brand differentiator” for businesses looking to acquire new customers, with consumers’ decision to share information driven by the use of trusted channels and transparency, new research published today (27 March) has revealed.
Infographic: Data privacy a ‘critical brand differentiator’
According to the findings of the Customer Acquisition Barometer 2014, carried out by the Direct Marketing Association (DMA) and McDowall, 43 per cent of consumers prefer email as their most trusted channels for sharing information, closely followed by 42 per cent who rated brands’ own website as their favoured route.
The report also found that only 52 per cent of UK consumers claim to have willingly shared their personal information with a company in the past 12 months, in spite of marketers saying more than half of their budget is being dedicated to customer acquisition activities - compared to just 20 per cent on retention.
According to Chris Combemale, executive director of the DMA, marketers must quickly adapt to the new expectations of consumers: "Effective customer acquisition relies on trust and transparency which is undermined by some companies, organisations and institutions misusing, abusing and exploiting people’s information against their expectations and wishes,” he said.
"The most successful companies are respecting their customer’s attitudes to privacy and making trust a critical brand differentiator."
The report surveyed 1,509 UK consumers and interviewed 116 senior marketers from brands including HP, Aviva and Wonga.
