A new study that sheds light on consumers' feelings about data and privacy suggests that a large proportion of the UK population are unconcerned about sharing data or are willing to share it in return for greater benefits.
As data privacy continues to hit the headlines, the new ‘Value Exchange’ study from OgilvyOne Worldwide, the digital direct arm of Ogilvy & Mather
, gives an insight into how consumers are currently sharing their data and how they could be incentivized to share more.
According to OgilvyOne’s ‘Value Exchange’ study, more than two thirds (69%) of the UK population said they would be willing to share their data in return for some sort of benefit, this attitude especially prevalent amongst 32 – 47 year olds, where four fifths (80%) would.
Of the 69% of consumers willing to share their data, two fifths (40%) said they would share it if they received a service that would enable them to manage or reach their goals (e.g. relating to healthcare or sport), and an equal number (41%) in return for a 20% cash reward or discount.
Dimitri Maex, Managing Director of OgilvyOne New York, demystifies data analytics in his new book SEXY LITTLE NUMBERS: How to Grow Your Business Using the Data You Already Have. Written for the general reader, Maex explains which data is the best to watch, how to extract the storyline it reveals and where companies can find untapped profits.
“Before the digital age, it was fairly simple to target customers using direct mail and traditional customer relationship management (CRM) techniques. Today, with every customer move transparent, the huge quantity of data that is now easily available gives companies an unprecedented window into how customers engage with brands – and more importantly – where that can lead to revenue.” said Maex.
Amongst consumers currently sharing their data, topline findings include:
Sharing data to get discounts or deals
There is a trend towards younger consumers sharing their data to get discounts or deals online; 64% of 18-31 year olds currently do, falling to 54% of 32-47 year olds and 41% of 48-66 year olds.
High-income earners are more actively sharing data to get discounts or deals online than lower income groups; 61% of individuals earning more than £75,000 per annum compared with 43% of individuals earning less than £25,000 per annum.
Sharing information to gain access to a website
More than half (56%) of 18-31 year olds share their personal information to gain access to websites, falling to 39% of 32-47 year olds and 28% of 48-66 year olds.
High-income earners are more actively sharing personal information to gain access to websites than lower income groups; 54% of individuals earning more than £75,000 per annum compared with 27% of individuals earning less than £25,000 per annum.
Sharing information on social networking sites
Nearly three quarters (74%) of 18-31 year olds share their personal information on social networking sites, falling to 60% of 32-47 year olds and 35% of 48-66 year olds.
High-income earners are more actively sharing their personal information on social networking sites; 43% of individuals earning more than £75,000 per annum compared with 25% of individuals earning less than £25,000 per annum.
Sam Williams-Thomas, CEO of OgilvyOne UK commented: “As more consumer data is created, protecting and making the best use of it is becoming increasingly important for brands. Through our research, consumers show a significant level of comfort with sharing their personal data, provided there is value in return from brands and companies. However trust is vital for this exchange to work. Brands must be transparent about how they collect and use data, and need to work hard to give reasons for consumers to share their data, by creating data-driven experiences that deliver tangible benefits such as personalised mobile services and enhanced customer service.”