Consumers do not trust technology sector to manage their data

There is a high degree of mistrust when it comes to the technology sector managing people’s personal data. This is according to a new report from the Chartered Institute of Marketing (CIM), that got released late last week. 

According to the report, just six per cent of the public trust businesses in the technology sector to handle their personal data responsibly.

Fast moving consumer goods sector is the worst (one per cent), followed by media and the publishers (two per cent). Financial services (34 per cent), pharmaceuticals (25 per cent), and professional and business services (16 per cent) are at the other end of the spectrum. 

Chris Daly, Chief Executive of the Chartered Institute of Marketing, comments: “What’s most worrying about these results is that they are unsurprising. In our interconnected, 'always on' world, being bombarded with irrelevant materials has become the expected or the norm. It's not good enough and it's eroding the trust between customers and businesses. We need to act now and this is why we are asking organisations to take the Data Right pledge, to commit to showing greater respect and accountability to their customers.”

“Businesses have a responsibility to their customers to be transparent, respectful and clear about how they use their personal information. Not only is this best data practice, but it ultimately will help consumers feel more confident and enjoy the benefits of sharing more personal data with businesses. The more data is shared, the easier it is for companies to provide relevant, targeted communications to consumers. But until businesses step up and show their commitment to best practice, they risk alienating their customers and damaging their brand.”

To combat this trend, CIM has launched a new campaign entitled Data Right, calling on businesses to be more responsible with data. The campaign highlights four things businesses need to do: be clear, show respect, be in the know, and show the benefits. 

Image Credit: Pitney Bowes Software