Locked in or locked on?
Providing data to gain access to products and services is often essential, rather than voluntary. Even so, brands need to be aware of how the way they ask for information – and the depth of the data collected – can impact on trust, says David Reed.
RELATIONSHIPSs WITHSTAND THE TEST
Trust has boundaries, is flexible and can change. It may also be surprisingly resilient. One of the main findings from the DMA Data Tracker study was that financial services providers still retain a high level of trust among consumers. This is despite the high number of data security breaches and data losses that have afflicted this sector in the last couple of years.
With 23 per cent of consumers saying they have suffered a data security breach in the last six months, it is hard to know why consumers have not made that connection.
What would it take to lose that trust? One answer might be sharing data with other members of the same organisation with which the individual does not have a direct relationship.
Although 75 per cent of consumers are happy to share information for marketing purposes with companies they do have a relationship with, this plummets to 27 per cent for companies in the same group or partnership programme
