Observed Signal · Aug 1, 2023 · Analysis · Source: CMSWire · Impact: 2/5 · Sentiment: Neutral
Data Privacy's Role in Customer Trust and Brand Loyalty
This article from CMSWire examines how data privacy has become a cornerstone of customer trust and brand loyalty. It cites multiple surveys and expert opinions showing that consumers are increasingly concerned about how brands handle their personal data, with 66% of respondents in a Deloitte report expressing concern and 86% in a KPMG report feeling growing unease. The piece highlights the impact of high-profile data breaches (Target, Activision, Chick-fil-A) and the rise of regulations like GDPR and CCPA. Experts from Amperity, Privacera, Publicis Sapient, Gleen AI, and Vericast discuss the need for transparency, progressive consent, and balancing personalization with privacy. A MediaMath survey reveals that 65% of consumers would lose trust if their data is misused, while 74% are more likely to trust brands with privacy-safe approaches. The article concludes that brands must prioritize data protection to build loyalty.
Provides insights on data privacy trends affecting consumer trust, relevant for marketers but not a specific industry event.
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Key Takeaways & Evidence Grounding
- 66% of consumers are concerned about how brands use their personal data (Deloitte, 2021).
- 86% of respondents feel growing concern about data privacy (KPMG, 2021).
- 65% of consumers rank 'misuse of personal data' as the top reason to lose trust in a brand (MediaMath, 2023).
- 74% of consumers are more likely to trust brands that use personal information with a privacy-safe approach (MediaMath, 2023).
- 59% of customers say trust would increase if brands disclosed how ad targeting works (MediaMath, 2023).
Connected Companies & Entities
9 Entities mapped“Consumer awareness of data privacy rights has dramatically increased over the past few years, largely due to data breaches that have occurre...”
“Consumer awareness of data privacy rights has dramatically increased over the past few years, largely due to data breaches that have occurre...”
“Additionally, a 2021 Deloitte Data Privacy report revealed that 66% of those polled said that they are concerned about how the brands they i...”
“Similarly, a 2021 KPMG report on Corporate Data Responsibility indicated that 86% of respondents said they feel a growing concern about data...”
“Chris Jones, chief product officer at Amperity, a CDP platform provider, told CMSWire that the role that data privacy plays in shaping custo...”
“Raymond Velez, global chief technology officer at Publicis Sapient, a digital consultancy, told CMSWire that businesses should shift to a “p...”
“Meggie Giancola, SVP of sales solutions and strategy at Vericast, a marketing solutions company, told CMSWire that data privacy represents a...”
“The 2021 Merkle Consumer Experience Sentiment Report revealed that 76% of those polled said they would take a brief survey upon visiting a w...”
“A 2023 report from MediaMath indicated that 65% of consumers ranked “misuse of personal data” as the top reason they would lose trust in a b...”
Ontology Mapping & Concepts
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