The Data Revolt
EY survey reveals consumers are not willing to share data
Our latest online survey of just over 2,000 consumers and 748 senior business decision makers looks at the shift of consumers’ attitudes towards personal data sharing, and the action businesses need to take to adapt their customer insight programmes.
The survey suggests that, as a result of new legislation and increased awareness around data privacy, in five to ten years the access to customer information that businesses currently enjoy may be heavily restricted.
Consumer attitudes towards the use of their personal information are changing
Consumers appear to have an increasingly conservative attitude towards what personal data they will share with business.
- 2/5, or 41%, of consumers surveyed say they “rarely”, or “never”, share their personal information with companies
- 54% say that they will either “frequently” or “sometimes” share information
- Just 3% say they “always” share personal data
- Six-in-10 consumers (63%) admit that being asked to share personal data is likely to stop them from signing up to a new service or product
- 1/3 are happy for companies to use their personal information if they benefit from more targeted marketing.
The impact of social media
When asked whether their use of social media networks has made them more or less open to sharing personal data in the last five years, half of those surveyed said their use of social media has made them less open to sharing personal data. Just 5% of social media users believe their use of social media has made them more open to sharing personal data.
When it comes using their social media data customers are even more sensitive
Sharing information on social media
When it comes to using social media networks, consumers are even more sensitive about sharing their personal data, with just 1% of respondents happy to share personal information across any social media website.
Almost 1/3 of all respondents (32%) say they restrict all access to their personal data on social media websites, while 31% say they restrict access to data depending on the social media site.
Consumers have become much savvier about the information they share with businesses. As customers start to recognise the value of their personal information and look for new ways to protect it, businesses need to come up with innovative ways to engage with them.
In a data heavy, digital economy, continuing to enjoy access to insights on customers’ preferences and habits will give businesses and their brands a competitive advantage.