The consumer data platform, Tealium has released a new report titled, “Trust is Golden: How Brands Can Prioritize Privacy in the Age of Data.” Based on a survey of 1,000 U.S. consumers, the report examines relationships with brands and personal data privacy.
To look at the findings in greater detail, Digital Journal spoke with Chris Slovak, VP of Tealium.
Digital Journal: Why is data important for brands and government?
Chris Slovak: Both brands and governments have some of the same fundamental requirements when it comes to interacting with their constituents. First they provide services. The quality of service provided is inevitably tied to the satisfaction of those serviced. In many cases the historical ability for the entity to create satisfied customers drive brand (and government) recognition both good and bad. (Anyone like going to the DMV?)
Trust in the brand and the government respectfully is that they will protect and service me to satisfaction before I purchase or vote for a candidate. Trust is what this all comes down too.
I trust that the data I provide to the brand and government is used to service me better. Further in the case of the government I trust that they are watching out for me. This is such an important topic because the expectations of the public are at stake. What’s even more interesting is the awareness that the government has for the value of the public dataset, something up to now they almost exclusively had control over. With the advent of massive multi-national corporations even governments are being serviced by the same companies they realize they need to regulate.
DJ: What data privacy concerns do consumers have?
Slovak: I think this depends on the sophistication of the consumer and in many cases their perception of privacy. Some are blissfully ignorant to the extent of information that is available others fear the dark state that is tracking their every move, listening to conversations and manipulating their experiences to sell one more widget.
When I talk to people about privacy the first thing they are really concerned with is how much about them ‘companies’ know. But I think they tend to forget that the data about them in many cases is freely given. Either via the little Apple iTunes checkbox, the agreement to the TOU for Facebook, the credit card application form or the sign in sheet at the counter at an open house.
What’s scary isn’t the act of giving up the data but that the technical reality that is data aggregation and the fear that 1) it will be used for some horrible purpose or 2) that someone out there is trading my information like a baseball card. The unknown is the scary part and the inability to do anything about it makes them feel helpless. I’m not sure any of us want to be the ‘product’ sold.
DJ: Who do consumers trust the most with their data?
Slovak:With the recent breaches and security lapses on both sides of the house (brand/governments) I think the unfortunate answer is no-one. I do however think consumers recognize the realities and the benefits of their data being used for commercial intent.
If sharing all my information will get me a ‘good driver’ discount or a better rate on my mortgage, I’m all in. I believe that there is a value exchange in which the ‘trust’ factor is weighed against risk and reward.
DJ: Do consumers recognize that total control of their own data is impossible in the modern world?
Slovak:No, definitely not. In fact when I tell people the extent of the real world around data many get down right angry. Once confronted that the free social network, email, new articles, videos, etc and etc are “paid for” with their data they are in disbelief. Our industry has made uncontested data collection the fuel that powers most of the modern internet models. While this is shifting steadily to subscription the impact of that data industry will long stand.
DJ: What are the feelings of consumers towards the U.S. government when it comes to their data?
Slovak:I’m not sure I can speak for the public on this one. With the very bi-polar state of our political landscape today I bet you’d get equally intense opinions on this subject, which comes down to trust in the entity that you are sharing information. Due to my proximity to the subject, I’d say that I’m very concerned. Not because they are out to bad deeds, but that the arms race that is data security is at an all time high. I frankly don’t believe any entity that large can properly protect is proverbial digital borders.
DJ: Do consumers fully trust brands with their data?
Slovak:I think this comes down to the value exchange and perceived ‘cost’ of the information provided. Again with every breach and security issue full trust is harder and harder to come by, but if the risk is worth the reward then yes I think we can.
For example I trust my healthcare provider… not because I think their systems are particularly better than others but that I believe the information they have will ensure that I get the proper care. I almost have to trust them because they need that information to service me.
DJ: How can bands improve consumer confidence when it comes to data?
Slovak:All of the regulations that are coming out are really focused on a few key themes – Consent, Transparency, Access and Deletion.
To improve confidence, ask for information, tell the consumer why and how it will benefit them (value)…. Do only that with the data (ethics) and if they ask tell them exactly what you have and offer to deletion or change. Let’s take the unknown away and recognize that how we treat our consumers data should be how we’d want to be treated. Creating transparency in the process will drive trust.
