Most U.S. consumers have decided against engaging with a brand due to privacy fears — 84%, to be exact, according to Data Privacy Report, a study from customer engagement platform Braze, conducted by Wakefield Research.
In addition, 72% of consumers and marketing execs each feel privacy should be a prime concern of this year’s presidential candidates. But only 26% of marketers say privacy is a chore for the federal government, versus 52% of consumers.
Also, parents are more likely to feel privacy should be a priority for candidates, especially children’s privacy — 92% say so.
And while 94% of executives agree that consumers want their data protected, 40% say lack of legal clarity is a barrier to achieving this.
Consumers are worried about possible uses of their data via:
Of the consumers polled, 59% have deleted an app from their smartphone or stopped installing it halfway through due to privacy fears and 34% have used an alternative email addresses.
However, 86% agree that losing some privacy is inevitable. That said, 71% feel they should be compensated for any data they share, with millennials the most likely to feel this way (83%) followed by Gen Xers (75%) and boomers (58%).
Cash is the most popular reward, but many people will accept services and conveniences.
"Respect for the consumer must be at the heart of data management. People want to trust that there will be an exchange of value for sharing their data, and that there will be no inappropriate use," states Bill Magnuson, co-founder and CEO of Braze.
Magnuson adds, "Brands that listen closely to their customers' behavior while maintaining rigorous data-privacy controls will understand how to provide the value each individual expects."
Wakefield Research surveyed 2,000 U.S. consumers and 500 marketing executives.