How Does Sharing Data Benefit Me?
As consumers, we’re all exposed to marketing every single day.
Here at Experian we believe that, when done properly, relevant marketing can bring significant benefits to consumers, organisations and society.
But to connect with you in an effective and respectful way requires your trust, and you need to feel that sharing your data with responsible organisations will result in positive outcomes being created for you as a consumer, and for society.
The benefits of relevant marketing
Relevant marketing can help millions of people access essential, everyday information — as well as services they would otherwise be charged for.
Here are just some benefits of sharing your data to allow relevant marketing to be done:
- Relevant and personalised communication
- Fair pricing
- Keeping content free
- Creating choice and meeting demand
- Better experiences
- Giving consumers local services
- Efficiency in public services
Let’s look at each one in more detail.
Relevant and personalised communication
When organisations have information about you, they can try to ensure the offers and services marketed to you are relevant and personalised. This allows brands to communicate with you at the right time, through the right channel, on the right device.
For example, you can receive offers to help you save money on the things you buy often, or recommendations to encourage you to try something new. And online customers who share their personal information can enjoy highly personalised product suggestions, faster checkouts, and membership reward programmes.
This means individuals no longer have to be bombarded by marketing communications irrelevant to them, which as we all know, can be both annoying and frustrating.
We all want to pay the right price for the right product, and no-one likes paying over the odds. Good marketing creates healthy competition among brands, resulting in fair pricing for the products and services you pay for.
Keeping content free
We consume huge amounts of content online, from news and entertainment to social media. Advertising and marketing allows these online content providers to generate revenue and provide these services for free, so we can all enjoy them.
Creating choice and meeting demand
Relevant marketing helps organisations meet their customers’ demand as well as fuelling innovation and technological advances. For example, market research leads to better product development -targeting the needs and wants of you, the consumer. Marketing helps smaller organisations grow, creating a healthy competitive environment which benefits you and society overall through its economic impact.
Organisations use data to understand you better. This helps them provide great customer service and build trust in the way your data is used. This can involve making sure their brand resonates with you, or designing websites that are easier and simpler to navigate.
Giving consumers local services
In specific geographical areas our data helps retail or leisure organisations offer relevant products and services that reflect what the local community likes to buy.
Efficiency in public services
For local authorities, the government and emergency services, data can have a crucial impact on how resources are allocated. By properly understanding individuals, households or the geographic area, authorities can direct scarce funds towards those most in need. And public service messages can be targeted at the most likely ‘at risk’ groups to make the biggest impact.
Information Commissioners Office
The Information Commissioners Office (the ICO) is the UK’s data protection regulatory body set up to uphold information rights. Through the “fingerprint family”, the ICO’s Your Data Matters campaign helps people understand why their data matters and how they can take back control
Click here to view the ICO’s short video on how sharing data helps make life easier, more convenient and connected, as long as your data is used only in ways you would reasonably expect, and that it stays safe.