C-suite blind to data trust gap as many Brits admit to deliberately trying to withhold their personal information
Research commissioned by enterprise customer data platform, Treasure Data, finds that 51% of UK consumers deliberately try to withhold their personal data from brands.
31% indicated they would prefer to remain completely anonymous from brands altogether. Yet 79% of senior executives in the UK believe their customers trust them with their personal data.
Treasure Data first surveyed 2,000 adults from France, the US and UK. It. then polled 500 C-suite decision makers in B2C companies with 2+ employees from France, the US and UK – 1,500 respondents in total.
Two thirds of UK consumers hear from brands digitally six or more times per day, yet 88% of them claim that half or less of the content they receive is relevant to them. Worryingly, almost one in five said none of the content they receive was of relevance at all.
With 41% of consumers saying they would switch away from even their favourite brands if the customer experience worsened, these findings suggest brands are at significant risk of losing valued customers.
Despite falling short on data driven targeting, 79% of UK senior executives still believe that their customers trust them with their personal data.
But a significant portion of the C-suite recognise there is trouble ahead, with 40% saying that a lack of consumer trust to provide their personal data will be one of the biggest barriers to customer understanding over the next 12 months.
63% of the UK C-suite polled claim that their organisation has experienced a data breach, with 34% of those who had said it happened in the past year or six months.
This is a cause for concern for brands, as 54% of consumers say they would switch to a different brand if a brand they use had experienced a data breach.
Director of Marketing EMEA and India at Treasure Data, Andrew Stephenson, says: “Our research exposes a concerning trust gap between UK brand leaders and their shoppers. From customer experience to data security, consumers expect a lot from the brands they share their personal data with, and in some cases, it seems brands are falling short.”
“As Brits continue to spend carefully amidst stubborn inflation, it is more important than ever for brands to use a data driven approach to serve the right message in the right place, at the right time, in order to win market share.”
“Brands today have unprecedented amounts of customer data at their disposal, but how effectively and safely that customer data is used looks to be the key differentiator for shoppers. Those which get data management right will find themselves pulling away from the competition.”
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