How Does Sharing Data Benefit Me?
We’re all consumers and as such are exposed to marketing every single day. We believe that when done properly, relevant marketing can bring significant benefits to consumers, organisations and society, which are essential for economic growth and help millions of people access essential, every day information as well as services which would otherwise be charged for.
However, these relationships are built on trust and you need to feel this produces benefits and positive outcomes for you as a consumer or for the society of which you are part.
Tangible benefits to you of relevant and informed marketing
We believe the marketing products and services we build and offer to organisations create tangible benefits and added value for individuals. These include:
- Relevant and personalised communication. Ensuring the offers and services marketed to you by brands are more likely to be relevant and personalised, enabling brands to communicate with you at the right time, through the right channel and, on the right device.
For example, understanding your likely needs enables an organisation to send you offers and recommendations that may help you save money on the things you buy often, or encourage you to try something new. Online customers who share their personal data enjoy highly personalised product recommendations, faster checkouts, and robust membership reward programmes. The alternative is individuals are bombarded with marketing communications that are not relevant to them which can be both annoying and frustrating.
- Fair pricing. Marketing done well creates healthy competition among brands, resulting in fair pricing for the products and services you want to buy or use.
- Keeping relevant online content free. Respectful use of advertising and marketing by online content providers delivers the revenue which enables them to keep important online content free for users. Think of all the free content we all consume online from news services, entertainment, and social media platforms. Organisations providing these free services can do so because of the advertising revenue they receive.
- Creating choice and meeting demand. Relevant marketing helps organisations meet consumer demand and create more value for you by fueling innovation and technological advances. For example, through enabling an understanding of the market, marketing data influences new product development and innovation and plays a role in market research by helping to create representative samples of individuals for further research into the needs and wants of consumers.
- Better experiences. Using data to understand you better as an individual enables organisations to deliver great customer services and build trust in the way your data is being used. For example, understanding the likely characteristics of an individual can help organisations to provide you with a better overall experience of that brand or service or to design more relevant interfaces and touchpoints (websites or apps).
- Giving consumers what they want in the area in which they live or work. For geographical areas, our marketing data provides insight to inform retail or leisure outlet location decisions or to make sure the products and services offered in a location reflect the kind of things the local community likes to buy there.
- Resource allocation, efficiency, targeted messaging in public service. For local authorities, central government and emergency services, data which enables a better understanding of the individual, the household or the geographic area plays a significant role. For example, it can inform public service messages to make sure information gets through to the most likely ‘at risk’ groups or directing scarce public resources to those most in need of that resource or service.
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 makes 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.