Data breaches that compromise millions of people’s data don’t make the headlines as much as they used to, but that’s not because they’ve gone away—it’s because they’re so common they’ve lost their news value. And new research from data-driven intelligence firm Infogroup reveals 80 percent of consumers say they’re more concerned about privacy than they used to be—a tendency marketers ought to keep in mind.
In the survey results for its new report, How Different Generations Think About Their Data, Infogroup found that 65 percent of consumers consider it risky to give a company their personal information.
“Laws such as the EU’s General Data Protection Regulation and the California Consumer Protection Act reflect a broader shift in consumer attitudes toward privacy—even among younger consumers,” said Heather Winnicki, VP of Product Management, Consumer Data at Infogroup, in a news release. “Understanding privacy preferences and behavior enables brands to tailor their offerings appropriately.”
The report suggests a number of strategies companies can implement to build trust in an era of changing expectations.
“Consumers’ attitudes towards privacy are shifting and marketers need to frame data collection in a way that resonates with their audiences,” said Michael Iaccarino, CEO and chairman of Infogroup, in the release. “Having the capabilities—whether in-house or through a partner—to develop rich insight into a brand’s audience, identify the right message for each segment, and develop programs that build trust will help marketers minimize risk and reach their objectives.”
Additional findings from survey include:
- More older consumers (55+) trust the financial services and healthcare industries with personal data—45 percent and 24 percent, respectively
- Contrastingly, only 30 percent of consumers aged 18-22 trust the financial industry to handle their personal data
- Fifty-seven percent of consumers feel “alarmed” when they see a product they had researched online advertised on social media
- Forty-nine percent of consumers ages 55 and over clear their cookies consistently. This number is 55 percent for those aged 39-54.
Infogroup surveyed more than 1,000 consumers on their data privacy priorities.