Data privacy is rising up the agenda as consumers become increasingly concerned with how their data is captured and used. In this blog, we explore how a new partnership between VML Netherlands and data privacy experts Ketch will help more brands meet customer demand for better data stewardship.
An efficient and transparent approach to capturing and managing consumer data is no longer just a compliance issue, but key to competitive advantage. This is highlighted by a recent survey by Ketch, which revealed that consumers held an increase in purchase intent of 23% for brands and companies with responsible data practices.
“Data privacy is now up there with sustainability as a key ethical concern when making a purchasing decision, as consumers increasingly recognise the value of their data,” says Russ Howe, EMEA SVP at Ketch. “To grow and retain their customer base, brands across the globe need to incorporate better data stewardship practices as part of the overall customer experience.”
With 83% of consumers in Ketch’s survey reporting to understand the value in sharing data with brands under the right conditions, but 82% concerned about how their data is collected and used, providing consumers with visibility is key to addressing their concerns and gaining permission to use their valuable data.