For marketers, gathering user data and using it to improve ad targeting or sales tactics in general is one of the smartest things that can be done. The fact is, however, that it is even more important ot make sure you are using the data you are able to gather in an honest and transparent way. According to a new survey from SAP Hybris, most consumers (almost 80%) would stop buying from a specific brand if they believed their data was gathered or used in an unauthorized way.
That being said, the survey also found that the vast majority of people are willing to give up certain types of data in exchange for something of value.
52% of people will share their email address with brands. 37% are willing to share their shopping history, and a quarter of people will share their mobile number. Only 19% of those responding said they are willing to share real-time location data, 11% share their monthly income, and 29% say they aren’t willing to share information at all.
It is important to note that this specifically applies to gathering and using customer identifiable information. Most people have non-identifiable information gathered about them all the time, and while some people don’t like it, most don’t care enough to stop a brand relationship. For example, the location data of people on mobile phones is always being gathered up in such a way that no piece of data can be linked to any specific person.
Another thing to take note of is that most people won’t share personal information without getting something of value in return. Offering a coupon, information, or other asset for an email address, for example, can be very popular.