Consumers are wary about data privacy; marketers must meet their discomfort with context | WARC | The Feed

Consumers are wary about data privacy; marketers must meet their discomfort with context

As privacy laws tighten, customers are increasingly wary of advertisers' ability to leverage first-party data, according to a new report from ad tech company Integrated Ad Science (IAS).

Why it matters

Brands need to adapt their online advertising strategies for an era of privacy that puts the consumer perspective on data first. Reputational, and possibly legal, ramifications await those marketers which fall short when it comes to protecting privacy and staying up to date with the latest industry regulations.

The consumer perspective

Integral Ad Science partnered with YouGov and a market research firm to survey 1,131 consumers and 346 experts in digital media to gauge their views on ad targeting, They found:

• Sixty-seven percent of consumers agreed they are “more vigilant than ever about their online data and privacy.”
• Though many consumers (50%) are not entirely confident about the security of their online data, they are aware of the way that advertisers use this information to target audiences more precisely.
• Ninety percent of consumers understand that information they share during browsing is used by marketers to target and personalise ad content.
  
• But many are uncomfortable with this knowledge; 68% of consumers said they felt uneasy about this usage of data.

The industry perspective

• Almost two-thirds (62%) of digital-media respondents believe that having some knowledge of data privacy is important in 2022, and 89% believe that Personally Identifiable Information (PII) privacy is a crucial consideration.
• But in-depth knowledge has not caught up with awareness: only about half of media experts understand information around browsers, mobile identifiers, and regulations.
• Another 29% of this cohort said their company has not made plans to comply with changing regulations.

The big idea

"With upcoming online data and privacy policy changes coming down the pipe, privacy continues to be a priority for both consumers and media experts." – Yannis Dosios, Global Chief Commercial Officer / Integrated Ad Science.

Sourced from Cision PR Newswire