Why would anyone trust a brand with their data! @clickfox

Source :ClickFox Consumer Data Audit survey on consumer’s preferences around data management, and which organizations are handling this new market opportunity with the best of care.

The survey suggests that consumers are willing to give up personal information to trusted brands if it will help them improve their shopping experience or get a better deal. The majority of customers (over 80 percent) expect their companies to know their previous retail experience, service and purchase history.

Those who are in financial services, followed by healthcare and government, earned the most trust in dealing with consumer’s personal data. The retail industry receives poor marks for consumer trust due to wary data use among retailers. And it turns out Google, Amazon, and Apple were revealed as the most trustworthy organizations overall.  Hum.... is there a correlation between levels of regulation and trust?

The data indicates that consumers’ acceptance on location-based marketing and opportunities has increased, as more than 70 percent of respondents were happy to share location in exchange for giveaways, discounts, and improved service, while 71.3 percent said they are comfortable with companies knowing their location.

The most influential factor in consumer reporting preferences regarding shopping behavior is the emergence of mobile phones. Nearly 20 percent of respondents were most comfortable using their cell phone number as a personal identifier while 49 percent were comfortable with companies knowing their cell phone number.

Additionally, 41 percent respondents said they would provide their personal cell phone number in exchange for giveaways, discounts or improved service.

Consumers continue to tie their data to brands with increasing frequency, but at the same time are demanding quality products and top-notch customer service, and they’re willing to pay for it. ClickFox’s earlier report on the relationship between customer loyalty and company performance found that quality and customer service of a brand are key factor in deciding loyalty.