Street Fight Magazine reports on a fascinating new survey about consumer attitudes toward online privacy. The biggest surprise was discovering how consumers want and expect personalized experiences without giving access to their personal data. The authors point to this new value exchange as unavoidable. Let it sink in.
Street Fight Magazine reports on a fascinating new survey about consumer attitudes toward online privacy, done by the digital advertising agency Razorfish, part of Publicis Groupe.
Taking a closer look at consumer attitudes toward online privacy is what all of us in the martech industry must and does. Respect to Razorfish for doing the important work that turned into "The Privacy Paradox".
Consumers' Concern
Eddie Gonzalez, Chief Strategy Officer at Razorfish talks to Street Fight Mag and explains the title:
"The paradox is really around consumers’ concern around privacy. We started under-standing what they were wary of sharing. Things like face scans and photos. Yet 62% have shared photos of themselves on social media."
One of several examples of privacy paradox mentioned in the article is:
"Respondents claimed to be aware of data safety, and 56% of them said they have the highest trust with their personal data of the healthcare and banking industries. The reality is that those verticals have the highest number of cybersecurity incidents."
Transparency Builds Trust
Whit the privacy paradox fully disclosed, Razorfish recommend that brand marketers commit to under-standing what knowledge of data privacy consumers actually have - and even act as an educator and advocate for consumer rights.
"Sharing data without authorization can be detrimental to a brand. Being transparent builds trust."
Gonzalez adds that brands need to toot their own horns about it when they handle personal data in a supremely responsible way. It is indeed a brand value (Hellow Apple) to invest in and commit to data privacy, and maintaining data quality is part of it.
Asked about the biggest surprise of the survey results, Razorfish's Chief Strategy Officer points to an unavoidable new value exchange where consumers do not want to pay with their personal information to get personalized (ad) experiences.
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