A study by Google and Boston Consulting Group revealed that consumers want relevant advertising.
The report aimed to understand how consumers and brands view data sharing. As per the study, 90% of consumers would like an incentive such a discount in exchange for their email address. 65% consumers reported negative experiences when ads are irrelevant, and 74% want relevant ads.
To a degree, consumers are open to sharing their data for relevant ads, as long as they don’t perceive the information exchange as intrusive or identifying. For example, 36% of young urban professionals are less willing to share information about gender, whereas 113% are likely to share social media activity.
Consumers are cautious about the type of data collected, how it's collected, and why. Incentivising them helps develop trust, as 64% of consumers distrust companies in at least one industry.
[3 minute read]