6 Ways to Earn Trust From Consumers Who Share Data With Your Brand [Data]

In 2023, having the right data can make or break your brand. But, for good reason, consumer data is harder than ever to get.In 2023, having the right data can make or break your brand. But, for good reason, consumer data is harder than ever to get. As data privacy regulations continue to tighten and third-party data channels are phased out, just 29% of consumers say they trust brands with their data. While businesses should want the data of prospects and customers to be protected, some of the excess analytics that companies once used to pinpoint behaviors and preferences of target audiences will become inaccessible as we enter a more privacy-first world. Today, more than ever, it’s up to brands to gain consumer trust, especially if they want to access the customer data needed to create effective and personalized experiences. But – how do you do that when over half of consumers flat-out decline to share their data? To help you build a data-gathering process that is effective, while also taking data safety and brand trust into account, we asked 600+ consumers what brands will need to do to make them feel more comfortable with sharing personal data. How to Earn Trust When Gathering Data Offering people control over their data, transparency into how it’s being used, and keeping data secure are all key to encouraging consumers to share data. At the center of all of these considerations is building trust with consumers. Our survey found that 78% of people are more likely to share their data with a company they trust and 65% say trust is the determining factor in whether or not they choose to share personal information. On top of that, 78% of consumers say they are more likely to buy from a company they trust with their data. So let’s take a deeper dive into six steps you can take or consider in building trust with consumers (while still fulfilling your data needs). We’ll also look at the top incentives you can offer people for their data to create a mutually beneficial exchange. 1. Give Consumers the Power to Delete Their Data from Your Records 73% of consumers say they should have complete control over how companies use their data. But right now, once they consent to sharing their data, consumers are mostly powerless to get it back. By letting consumers easily delete their personal data from your brand’s database at any time, you allow them to maintain a sense of ownership. Empowering consumers in this way also allows them to hold companies accountable. If people decide they no longer support a brand or are concerned about how their data is being used, they can get it back in a flash. With 46% of consumers saying this level of control would make them more comfortable sharing data with a company, it could significantly boost trust between the two parties. 2. Give Consumers the Choice to Opt-in (and Out) The second way to make consumers comfortable with sharing

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