Consumers are concerned about someone accessing
their personal information so much so that they will take their business elsewhere if they don’t think a company is properly handling their data.
The bad news for marketers is that on
the types of businesses that consumers trust the most, marketing and advertising is dead last, according to a new study.
The study comprised a survey of a nationally representative sample of
2,000 U.S. adults conducted by conducted by PwC and BAV Group.
The most trustworthy types of businesses are hospitals and banks and health care providers. Here are the types of businesses
consumers trust most:
- 42% -- Hospitals, banks
- 39% -- Healthcare providers
- 26% -- Insurance companies
- 24% -- Nonprofits
- 23% -- Utilities,
government
- 21% -- Information technology
- 17% -- Professional services
- 16% -- Pharma
- 14% -- Aerospace, food and beverage
- 13% -- Online retailers
- 12% -- Agriculture
- 11% -- Energy, hotels
- 10% -- Automotive, airlines
- 9% -- Manufacturing, telecom
- 8% -- Sports organizations
- 6% -- Media and
entertainment
- 5% -- Startups
- 3% -- Marketing and advertising
The majority (69%) of consumers believe companies are vulnerable to hacks and cyberattacks and only 25%
believe that most companies handle their sensitive personal data responsibly.
This could have serious repercussions, since 87% of consumers say they will take their business elsewhere if they
don’t trust their data is being handled responsibly, according to PwC.
Almost half (45%) of consumers say that it is likely that their email or social media accounts will be hacked
within the next year, the most common statement. Fewer expect they will have a flight canceled (36%), get a new job (35%) or have to go to an emergency room (31%).
It’s going to be up to
companies to protect the data of their customers, and this is going to be a big deal.
Only 10% of consumer feel they have complete control of their personal information.