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U.S. Consumers Becoming More Open to Sharing Data

Acxiom®
(Nasdaq: ACXM), the data foundation for the world’s best marketers,
today released a new report in partnership with the Data & Marketing
Association (DMA), that found U.S. consumers are becoming more open to
engaging in data exchanges in return for better offers and services. The
joint study, “Data Privacy: What the Consumer Really Thinks,” discovered
nearly half of consumers (44 percent) in the U.S. feel more comfortable
with data exchange than they did previously, rising to 54 percent among
millennials. While almost two-thirds of consumers (62 percent) believe
that sharing data is part of the modern economy, the study also revealed
trust and transparency are top priorities for consumers when it comes to
data exchange.

“An overwhelming shift in attitudes is underway as more and more
consumers gain awareness and an understanding of the role data exchange
plays in contemporary society,” said Sheila Colclasure, Acxiom’s global
chief data ethics officer and public policy executive. “This survey
shows that people are increasingly aware of the role data plays in our
lives and are becoming more conscious of the decisions they make in
exchanging data for value.”

The survey found that consumers defined as “data pragmatists” – those
open to engaging in data exchanges with businesses if the benefits
received in return for their personal information are clear – comprise
the largest consumer segment in the U.S. across demographics (58
percent). In addition, nearly one in five consumers in the U.S. is
“unconcerned” about the collection and usage of their personal data.
This sentiment is particularly true among younger demographics, with a
quarter of millennials and 31 percent of 18-24 year olds falling into
this category. Americans show one of the highest degrees of comfort with
data sharing in contrast to other countries, such as Spain and France,
where only a third of respondents indicate they feel more comfortable
with data exchange than they did previously.

“This report also clearly demonstrates the need for providing consumers
with increased transparency and control, a key element of an ethical
approach to data use,” Colclasure added. “We’re proud to partner with
the DMA today, as we have for nearly 50 years, and to continue to work
with the world’s largest brands to provide consumers with data-driven
experiences grounded in ethical data practices.”

Findings from the report, which was conducted in November 2017, are a
telling indicator of consumers’ perceptions of the value of data
sharing—an important consideration for marketers in the days following
the implementation of the European Union’s General Data Protection
Regulation (GDPR) on May 25, 2018. Alongside a growing comfort with
sharing personal information with companies, particularly among younger
demographics, almost two-thirds of U.S. consumers say they feel more
aware of how their data is used and collected than in the past.
Forty-three percent of those surveyed believe that responsibility for
data security lies with consumers, while only six percent of Americans
believe that brands or government institutions should bear this
responsibility. Thirty-seven percent of Americans believe a combination
of consumers, brands and government should be responsible for data
security.

For 54 percent of consumers, trust in an organization was ranked as the
most important factor influencing their willingness to share their
personal data. More than four in five respondents found it important
that businesses be transparent about the collection and usage of data,
provide easy-to-understand terms and conditions, and show a clear link
between the data shared and benefits received.

“Responsible marketers are interested in acting ethically and nurturing
customer trust. This is all the more reason for the industry to come
together and ensure we’re operating in an environment that drives value
to customers,” added DMA Chief Executive Officer Tom Benton. “With a
steady eye toward security and responsibility and customer relationships
that are based on trust, our data-driven future will be bright.”

The study was conducted via an online survey of 2,076 respondents aged
18 and older.

About Acxiom

Acxiom provides the data foundation for the world’s best marketers. We
enable people-based marketing everywhere through a simple, open approach
to connecting systems and data that drives seamless customer experiences
and higher ROI. A leader in identity and ethical
data use for nearly 50 years, Acxiom helps thousands of clients and
partners around the globe work together to create a world where all
marketing is relevant. Acxiom is a registered trademark of Acxiom
Corporation. For more information, visit Acxiom.com.

About DMA

Founded in 1917 and driving the data and marketing agenda for a full
century, the Data & Marketing Association (“DMA”) champions deeper
consumer engagement and business value through the innovative and
responsible use of data-driven marketing. DMA’s brand-leading membership
is made up of over 1,400 organizations that are today’s innovative tech
and data firms, marketers, agencies, service providers and media
companies. By representing the entire marketing ecosystem—demand side
and supply side—and engaging more than 100,000 industry professionals
annually, DMA is uniquely positioned to convene and guide the industry
to bring win/win solutions to the market and ensure that innovative and
disruptive marketing technology and techniques can be quickly applied
for ROI.

DMA advances the data-driven marketing industry and serves its members
through four principal pillars of leadership: advocating for marketers’
ability to responsibly gather and refine detailed data to identify and
fulfill customer needs and interests; innovating to bring solutions
forward to the data & marketing ecosystem’s most vexing challenges;
educating today’s members of the data & marketing ecosystem to grow and
lead marketing organizations in the ever-increasing omnichannel world;
and connecting industry participants to stay current, learn best
practices and gain access to emerging solutions through &THEN – the
largest global event for data-driven marketing – and DMA’s portfolio of
other live events. For more information, visit TheDMA.org.

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