How data privacy can create a win-win situation for consumers and brands

It’s hard to escape the topic of data privacy at the moment, whether it’s a breach or misuse of data making the news headlines or, if like me, you have been inundated with emails asking you to ‘opt-in’. The GDPR deadline is almost here, which brands simply can’t ignore, so we wanted to understand what data privacy really means to people and crucially what brands should do about it.

What we did

LivingLens joined forces with Liveminds and Feeling Mutual to find out how people really feel about data privacy. We put the following questions to the UK-based participants, who completed their responses via video:

  • How do you feel about data privacy?
  • What should companies do to inspire more data openness?
  • How do you feel about a future in which you use your data to negotiate with companies?

We captured almost 60 minutes of video content from 15 people in 48 hours – from project sign off to completion.

What they told us

Consumers acknowledge the benefits of ‘data openness’, such as personalization and convenience, however often felt that they didn’t have a choice but to share their information. Some feel obliged to reveal details that in their eyes are unnecessary, they feel the data exchange is unbalanced. In the worst cases, they felt that brands were trying to ‘trick’ them into sharing information and had concerns about the security of their data and it being more widely shared.

Their willingness to share data is dependent on 3 key factors:

  • What they get in return
  • How much they trust the company
  • How personal the data feels

The idea of getting relevant communications, discounts and other benefits in exchange for personal data is appealing. However, people need reassurances in order to consider negotiating with companies. Consumers are wary of being ‘spammed’, being targeted with irrelevant ads or having their information stolen and used fraudulently.

Brands need to proactively broker more transparent and mutually beneficial data-relationships by:

  • Making data policies more digestible
  • Prioritising the information that matters most
  • Reassuring people about data security
  • Clearly let people know how their personal data is used and what they get in return

Brands need to be open and clear about how data will be used, what consumers get in return and provide reassurances about the security of information and how it may be shared. There can be a win-win for everyone.

Download the full report and video showreel on what consumers really think about data privacy.


 

Find out more about managing consumer video content in a GDPR compliant world in our blog

How to manage consumer video content in a GDPR compliant world

If you’re interested in fast turnaround video insight, get in touch to find out more.

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