Around 57% of consumers said they would share more data if they felt their privacy was protected.
Studies show the majority of customers are concerned about how companies collect and use their data. Interestingly, 65% of consumers also shared more data if they felt an organisation was being more transparent around data use policies. 72% of consumers also said they would be more willing to share data if they were being paid fairly for it.
To capitalise on a willing audience, businesses must deploy fundamental trust principles. The principles should revolve around data control, data privacy, transparency, user experiences and appropriate incentives. Provide users with greater control of their data and create the best user experiences possible.
Companies should be transparent and foster accountability to win consumer trust. To seek holistic audience insights, companies should rely on multiple data streams.
[5 minute read]