Recent studies show that consumers are taking extra steps to keep information private. Perhaps to avoid spam messages, or to reduce all of the noise, from marketers that know nothing about them. This article, from eMarketer and a recent study by TRUSTe reflects the extremes people are willing to go to to protect privacy.
What is interesting…
At the same time, people are also willing to share a little more about them, but only with brands that will pay attention. Brands that offer truly relevant messages, offers and discounts are rewarded with continuous learning. This idea is supported by an October 2013 study by Etailing Solutions, suggesting an interest in extending privacy in return for better discounts.
“But there is one exception a significant portion of consumers would be OK letting marketers use their personal data for: a good deal on products and services. According to an October 2013 survey from Etailing Solutions, 41% of consumers agreed or strongly agreed that they were willing to let marketers use their personal data to provide discounts on goods and services”
We have recently conducted a great deal of brand and consumer interviews for our startup. Our findings reinforce a willingness to exchange privacy, in return for a more “worth-it” connection with brands. On the brand side, they are challenged with the idea of response, but look forward to moving closer to consumers on an individual level.