Data breaches are proliferating at a time when marketers are becoming increasingly reliant on user data, and this has left many CMOs in agony.
Worldwide, 46% of consumers don’t believe (or are unsure) that businesses sell their personal data, but 43% of businesses overall said they engage in this practice.
Privacy is obviously a hot topic these days with new European data privacy regulations going into effect and Facebook facing questions over its privacy practices.
Most US internet users say they don’t trust social networks to protect their personal information. A May 2018 survey by Rad Campaign found that 61% of respondents had little to no trust in social networks. That compares with 53% in 2016, and 57% in 2014.
Many marketers assume that users will trade their data in exchange for ads that are highly specific to their interests. The principle behind this assumption may be fading as ad platforms have come under scrutiny for their cavalier approach to data security.
The GDPR is driving marketers to first-party data handlers at a time when anxiety is high over the new regulation. In a spring 2017 survey from Veritas, 32% of business decision-makers worldwide were concerned that they didn’t have the right tools in place to monitor data as they prepared for the GDPR.
One-third of Americans have stopped using a brand as a direct result of a scandal.
Millennials (19-35) tend to be more trusting than older generations when it comes to institutions safeguarding their personal data.
More than one-third (37%) of US adults have decided not to do business with a company because of something they learned about how the company conducts itself.
AYTM Market Research found in August that 18% of US internet users were very concerned with online privacy and security, with another 19.7% responding with general concern.