Main reason why consumers are suspicious of a brand? Asking too much information
As consumers spend more time online, the level of trust people place in brands has become closely tied to how brands use their personal data.
Regarding mutually beneficial communications, the fifth biannual edition of Jebbit Consumer Data Confidence Index found that interactive experiences such as product matches and personality quizzes take the cake, increasing consumer confidence by 38.4%.
The report asked adult consumers in the United States to rate, on a scale of 1 to 10, their level of trust in brands to use their personal data in exchange for relevant promotions, goods and services.
Over half (62%) of consumers said they prefer personalized products and experiences, but a brand’s approach can make or break how that experience is received. For example, 54% of consumers said their trust in a brand drops when they receive emails based on data they haven’t knowingly shared.
Interactive experiences are almost related to personalized emails (38.9%) based on knowingly shared data and are by far the least likely to reduce trust, according to the report. Such experiences both provide transparency into how consumer data is being used and immediately add value to that data through personalized recommendations, Jebbit notes.
Creating a data collection strategy is key, as 35% of consumers told Jebbit that a brand asking for too much personal information was their main reason for being suspicious of a brand – the number one reason for the brand. third consecutive time. Jebbit customers have seen over 30% increase in customer lifetime value by collecting as little as three points from each of their customers.
The second reason consumers are suspicious of a brand when providing personal information is a public data scandal, as noted by 21.1% of those surveyed; the third is experiencing a “scary” ad, as noted by 18.2 percent. Confusion of privacy policies was also a factor, suggesting the importance of making consumer texts on privacy laws simple and digestible.
Almost 32% of those surveyed said they were more likely to trust a brand that offers an enhanced experience based on the data they have about them. Another 42% said conversation tools that deliver personalized experiences increase their trust in a brand.
Among industries, technology remains the most reliable industry overall. Food, beverage and spirits brands are the lowest ranked industry.
For the fifth time in a row, Amazon has taken the top spot for Most Trusted Brands while setting a new record of 7.05. Adidas is just behind Amazon, with a consumer confidence rating of 7.03. Other brands in the top five include Netflix in third, Google in fourth, and Samsung in fifth.
Earning a trust score of 5.97 out of 10, Facebook landed 97 on the 100 list and is the least trustworthy of social media brands. Instagram is faring a bit better, ranking at 71 with a score of 6.23.
See the full list of rankings here.