58% consumers in the UK and US feel positively about receiving a hyper-personalised online ad.
This is according to research from Iterable, a cross-channel marketing platform, which surveyed 1,500 consumers.
The survey crossed two regions with very different data regulations. The UK, and Europe more broadly, has been proactive on data privacy. The Data Protection Act 2018 brought in the European Union General Data Protection Regulation (otherwise known as GDPR), imposing new ‘data protection principles’ on businesses when handling personal data. Similar national legislation is not present in the US, bar some exceptions at a state-level like the California Consumer Privacy Act or the recently introduced Colorado Privacy Act.
However, Iterable’s research showed no major divergence in customer attitudes on privacy and individualised marketing.
A majority of consumers in both the UK (61%) and US (54%) said they had positive feelings towards hyper-personalised online advertising.
Almost a quarter (24%) of overall respondents were very positive about this kind of advertising, recognising that brands were providing them with ads targeted to their preferences to ensure they had the best online experience.
The figures point to consumers being generally open to share their data as long as they see a tangible benefit for them in return. Only 6% consumers in the UK and 10% in the US would go as far as to reconsider purchasing from a brand that was obviously tracking their searches.
Sanam Saaber, general counsel at Iterable, said: “Today’s consumers have high expectations of the brands that win their business; they want personalised experiences and memorable conversations that add value to their day to day.
“With topics like personal data protection and privacy regulation at the forefront of the marketing conversation, consumers are more savvy and scrutinizing than ever before. They know that, for brands to deliver on their expectations, they need access to personal data. And they are willing to share this data if it is collected in a transparent and fair fashion.
“Delayed or not, there is certainly a wave of tighter regulations on the horizon. Now is the time for brands to set a high ethical standard for data collection, refine their processes and demonstrate what personalised services can offer their customers if given the opportunity.”
Laws, policies and regulations around cookies and consumer data privacy seem to be changing every day, and public support of these regulations is only growing, according to Saaber.
She added: “Adhering to cleaner data collection practices now can build trust with consumers, and transparency is the foundation of loyal, long-lasting and valuable relationships with customers.”