According to the report, a full 89 percent of consumers polled wish companies would take additional steps to protect their data. Seventy-eight percent think the US government should get involved by mandating stricter privacy and security standards.
Choozle based its research on a survey of 502 adult US consumers representing a variety of ages and income levels. The company’s “2018 Digital Advertising Trends Survey” checked in with consumers to get their opinions on privacy and see if predicted trends for 2018 were on track.
Consumers continue to be befuddled by data
Even though 63 percent of respondents said that they know companies make money by selling their personal data, nearly half (44 percent) said they knew little to nothing about what data companies hold on them.
The report also revealed that even as consumers are afforded increased data privacy rights through legislation such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act, they lagged behind when it came to understanding the details.
For example, only 23 percent knew that the Federal Trade Commission (FTC) is the agency that protects consumer privacy and security in the US, and a whopping 60 percent said they did not know what GDPR was, despite having three answers to choose from.
Jeffrey Finch, chief product officer for Choozle, said that these results show that marketers should focus more on transparency.
“These findings represent an adverse relationship between consumer trust and the advertising industry,” Finch said. “Companies constantly push a transparency-focused agenda, but consumers haven’t experienced that this year, so there’s some rebuilding to do. This should be an unspoken trend for all companies, this year and beyond.”
About The Author
Robin Kurzer started her career as a daily newspaper reporter in Milford, Connecticut. She then made her mark on the advertising and marketing world in Chicago at agencies such as Tribal DDB and Razorfish, creating award-winning work for many major brands. For the past seven years, she’s worked as a freelance writer and communications professional across a variety of business sectors.