In the 2012 Data Tracking study published by DMA (sponsored by Equifax) last week, 1193 UK adults shared their opinions about when and how they’ll share personal information with brands. The good news for brands is that the number of consumers who claim to be willing to share private data with brands has sky-rocketed over the past 18 months.
Specifically, the number of people who are willing to share personal data with brands that are “selling products they might consider buying” increased by 48% during the past 18 months. Furthermore, the number of people who are willing to share personal information with brands that are “selling products they have to buy” has jumped from 56% to 63% in the past 18 months. Another significant increase was found in the number of people who are willing to provide their name, address, and email address (referred to as “basic information”) to brands, which grew by 63% in the past 18 months.
However, not all brands fare as well when it comes to convincing consumers to share personal data. Brands that offer clear security policies and follow best practices to secure consumer trust are having much more success in obtaining consumer private data than brands that don’t prioritize these activities.
You can follow the link above to view the full report and see some highlights in the infographic below. Key findings include:
- Consumers are most willing to share personal information with brands they already have a relationship with (76%) and when they’re buying products (63%).
- Consumers are more willing to share private information when they trust the company (47%), the company has a clear privacy policy (43%), or the company provides an essential service (31%).
- Sales incentives mentioned in the study that are most effective in motivating people to share personal information include free samples (25%), money-off vouchers (25%), discounts (23%), free shipping (20%), and competitions (19%).
- On average, consumers are most likely to share their name, followed by their email address and their mailing address in that order.
- Of the activities included in the survey, consumers reported that they are most likely to shared basic personal information like name, email, and address when they’re buying goods online (79% average), and least likely to share this information when they’re pledging support for a cause.
Brand trust is a critical component of any brand-building strategy, and the results of this study show that building brand trust is the number one factor that can motivate consumers to share personal information with your company that can be used in future brand marketing campaigns. If you’re not already prioritizing your efforts to build brand trust, you need to do so now.
Image: Ayhan Yildiz
Lucy is Editor at Corporate Eye
