Privacy and Marketing part I: The value of a better privacy experience online has been saved
Privacy and Marketing part I: The value of a better privacy experience online
Congratulations! You have successfully navigated another holiday season. If your spending matched the European average in Deloitte’s 2019 Christmas survey, you spent €461 on gifts, clothes, travel and food – an increase of 3.3% compared to last year. A big part of your expenditures probably happened online, where you may have come across privacy notices and cookie banners, which you might have clicked away without noticing much or with slight annoyance. In this blog, we will outline why creating a consumer-friendly privacy experience could be beneficial to organizations.
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- Consumers are more privacy-aware
- Privacy as a competitive advantage
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Consumers are more privacy-aware, yet remain willing to share their data
According to a Deloitte survey, consumer’s level of privacy awareness is rising: 78% of consumers are aware of their privacy rights. 41% of consumers state that since the entry into force of the GDPR, they are paying more attention to privacy and cookie notices. Privacy also plays a role when it comes to the use of ad blockers: for 26% of ad blocker users, privacy concerns are a motivation.
Interestingly, this does not mean that consumers are no longer willing to share their personal data with organizations. Quite the opposite, as another Deloitte survey shows, nearly three in four consumers are willing to share personal data if they receive benefits such as better pricing, special discounts, or exclusive offers. Even more so, when consumers trust an organization, they are more likely to be open about sharing their personal data.
Privacy as a competitive advantage
Overall, 91% of consumers would like to have more control over the personal information they share with organizations and over the way in which it is stored. In this context, creating true transparency and control will make a difference when establishing consumer trust. Making the privacy experience online more consumer-centric and user-friendly is a critical step in that direction. New tooling already makes it easier to automate privacy processes, which is efficient for creating new opportunities in branding and customization. Privacy can then become a competitive advantage.
However, ultimately, this only works if organizations align internally and different departments come together in order to reconcile their sometimes conflicting requirements and objectives, choosing a comprehensive approach.
In this blog series, we will explore how organizations can achieve this. We will identify how a strategical privacy experience can create trust in your organization, so it becomes a competitive advantage.
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For more information about the 'Privacy and Marketing' blog series, please contact Jeroen van den Nieuwenhof or Annika Sponselee via the contact details below.