Data transparency will be smart brands’ holy grail

Brandhome researched the importance of privacy for consumers and the effect on their behavior. The outcome? People are fed up with lack of transparency and brands that know them better than their friends. The results show that 3 out of 4 Belgians think their privacy is important, and 90% of Belgians expect more transparency from brands. It’s up to brands to change, or consumers will drop out. First of all, brands need to open up about their data policies and privacy statements. When doing so, they need to take into account that users want to know who uses their data (73%) and what it is used for (70%). Forget data, privacy is the new marketing gold.

Belgians have no clue about privacy … yet

Although data protection and privacy are booming topics, almost 70% have no clue about the consequences of their online behavior. Of the Belgians surveyed, 90% are unaware of the fact that Uber charges them more if their smartphone battery is low.

Brands need to invest in transparency

But privacy policies alone won’t cut it: 90% don’t read them. But this is not because they do not want to know what happens to their data. In the end, consumers have the power and they will use it.

Consumers are changing even more than legislation

With the GDPR coming down the turnpike, what companies already fear might come true. Consumers will do all they can to protect their privacy: 77% will file a complaint if they believe their privacy has been violated. Half of those surveyed plan on retracting permission to process their data, and 67% will exercise their right to be forgotten.

We no longer accept brands messing around with our data

Almost 30% are even willing to pay mobile providers at least 2 euros a month extra if their data is erased immediately. Is the end of the data bubble near?

Brands: open up or go down

Data might seem the way forward for many brands. But with all the recent privacy scandals and the GDPR scheduled to go into effect next month, consumers are more aware of the importance of their data. And if they’re not, they will be in the near future. They will ask for more transparency and will protect their privacy with all the (newly created) means at their disposal. A huge opportunity lies in trying to attract consumers with more privacy-oriented marketing.

Discover the results here.