U.S. Consumers Becoming More Open to Sharing Data
June 18 2018 - 8:30AM
Business Wire
Joint Study with Data & Marketing
Association Reveals Almost Half of American Consumers Feel More
Comfortable with Data Exchange than They Did Previously
Acxiom® (Nasdaq: ACXM), the data foundation for the world's
best marketers, today released a new report in partnership with the
Data & Marketing Association (DMA), that found U.S. consumers
are becoming more open to engaging in data exchanges in return for
better offers and services. The joint study, “Data Privacy: What
the Consumer Really Thinks,” discovered nearly half of consumers
(44 percent) in the U.S. feel more comfortable with data exchange
than they did previously, rising to 54 percent among millennials.
While almost two-thirds of consumers (62 percent) believe that
sharing data is part of the modern economy, the study also revealed
trust and transparency are top priorities for consumers when it
comes to data exchange.
“An overwhelming shift in attitudes is underway as more and more
consumers gain awareness and an understanding of the role data
exchange plays in contemporary society,” said Sheila Colclasure,
Acxiom’s global chief data ethics officer and public policy
executive. “This survey shows that people are increasingly aware of
the role data plays in our lives and are becoming more conscious of
the decisions they make in exchanging data for value.”
The survey found that consumers defined as “data pragmatists” –
those open to engaging in data exchanges with businesses if the
benefits received in return for their personal information are
clear – comprise the largest consumer segment in the U.S. across
demographics (58 percent). In addition, nearly one in five
consumers in the U.S. is “unconcerned” about the collection and
usage of their personal data. This sentiment is particularly true
among younger demographics, with a quarter of millennials and 31
percent of 18-24 year olds falling into this category. Americans
show one of the highest degrees of comfort with data sharing in
contrast to other countries, such as Spain and France, where only a
third of respondents indicate they feel more comfortable with data
exchange than they did previously.
“This report also clearly demonstrates the need for providing
consumers with increased transparency and control, a key element of
an ethical approach to data use,” Colclasure added. “We’re proud to
partner with the DMA today, as we have for nearly 50 years, and to
continue to work with the world’s largest brands to provide
consumers with data-driven experiences grounded in ethical data
practices.”
Findings from the report, which was conducted in November 2017,
are a telling indicator of consumers’ perceptions of the value of
data sharing—an important consideration for marketers in the days
following the implementation of the European Union’s General Data
Protection Regulation (GDPR) on May 25, 2018. Alongside a growing
comfort with sharing personal information with companies,
particularly among younger demographics, almost two-thirds of U.S.
consumers say they feel more aware of how their data is used and
collected than in the past. Forty-three percent of those surveyed
believe that responsibility for data security lies with consumers,
while only six percent of Americans believe that brands or
government institutions should bear this responsibility.
Thirty-seven percent of Americans believe a combination of
consumers, brands and government should be responsible for data
security.
For 54 percent of consumers, trust in an organization was ranked
as the most important factor influencing their willingness to share
their personal data. More than four in five respondents found it
important that businesses be transparent about the collection and
usage of data, provide easy-to-understand terms and conditions, and
show a clear link between the data shared and benefits
received.
“Responsible marketers are interested in acting ethically and
nurturing customer trust. This is all the more reason for the
industry to come together and ensure we’re operating in an
environment that drives value to customers,” added DMA Chief
Executive Officer Tom Benton. “With a steady eye toward security
and responsibility and customer relationships that are based on
trust, our data-driven future will be bright.”
The study was conducted via an online survey of 2,076
respondents aged 18 and older.
About Acxiom
Acxiom provides the data foundation for the world's best
marketers. We enable people-based marketing everywhere through a
simple, open approach to connecting systems and data that drives
seamless customer experiences and higher ROI. A leader in identity
and ethical data use for nearly 50 years, Acxiom helps
thousands of clients and partners around the globe work together to
create a world where all marketing is relevant. Acxiom is a
registered trademark of Acxiom Corporation. For more information,
visit Acxiom.com.
About DMA
Founded in 1917 and driving the data and marketing agenda for a
full century, the Data & Marketing Association (“DMA”)
champions deeper consumer engagement and business value through the
innovative and responsible use of data-driven marketing. DMA’s
brand-leading membership is made up of over 1,400 organizations
that are today’s innovative tech and data firms, marketers,
agencies, service providers and media companies. By representing
the entire marketing ecosystem—demand side and supply side—and
engaging more than 100,000 industry professionals annually, DMA is
uniquely positioned to convene and guide the industry to bring
win/win solutions to the market and ensure that innovative and
disruptive marketing technology and techniques can be quickly
applied for ROI.
DMA advances the data-driven marketing industry and serves its
members through four principal pillars of leadership: advocating
for marketers’ ability to responsibly gather and refine detailed
data to identify and fulfill customer needs and interests;
innovating to bring solutions forward to the data & marketing
ecosystem’s most vexing challenges; educating today’s members of
the data & marketing ecosystem to grow and lead marketing
organizations in the ever-increasing omnichannel world; and
connecting industry participants to stay current, learn best
practices and gain access to emerging solutions through &THEN –
the largest global event for data-driven marketing – and DMA’s
portfolio of other live events. For more information, visit
TheDMA.org.
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Havas Formula for AcxiomCamille Schmidt,
619-234-0345acxiom@havasformula.com
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