TORONTO: Four-fifths (80%) of consumers around the world are willing to share their personal information with brands, but only 8% think sharing that data brings them special benefits, a new global survey has revealed.
Based on responses from 20,000 consumers across 11 countries, Canadian data and loyalty analytics firm Aimia found 80% would share their names, email addresses and nationalities while 70% would share their dates of birth, hobbies and occupations.
Consumers are aware of the value of their data to brands and a full 68% rate their information as valuable while almost a third (31%) consider it highly valuable.
More than half (55%) say they will share their personal information to get better offers and rewards, but only about a quarter (23%) say the communications they receive from marketers are relevant to them.
Confirming findings from other surveys, the report found younger consumers tend to be much more tolerant about allowing brands to use their information.
Some 51% of Generation Z consumers aged 18 to 24 in the US are willing to share their mobile phone numbers compared with just 30% of Baby Boomers.
Similarly, there are differences around the world with consumers in the United Arab Emirates (71%), India (68%) and Brazil (59%) being the most comfortable about sharing mobile phone numbers. This compares with just 37% of consumers in more established markets.
Indian consumers are particularly trusting, the report found, with 90% of them willing to share email addresses, followed by their names (89%) and physical mailing addresses (68%).
David Johnston, group chief operating officer at Aimia, advised brands to focus on personalising their communication and offers if they want to win over consumers.
"This is a golden moment for companies to build meaningful relationships with their customers, but this opportunity will quickly disappear if companies fail to respond appropriately," he said.
"To be successful, companies must think about what they can do for the customer, not to the customer, with each personalised communication, experience and offer."
Data sourced from Aimia; additional content by Warc staff