Equifax Sponsors DMA Data Tracking Study to give marketers insight into consumer perceptions
www.equifax.co.uk
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As part of its partnership with the Direct Marketing Association (DMA), Equifax, a leading provider of direct marketing services, has sponsored the DMA’s inaugural Data Tracking Study which is providing a crucial insight for marketers into the data issues that influence consumers.
“Finding out the barriers to effective consumer marketing has to be a key priority for our industry. And, without doubt, the issues surrounding the use of personal information, are central to that”, confirmed Graham Burdett, Sales Director, Consumer Marketing Services, Equifax. “We are therefore delighted to be supporting the DMA’s first Data Tracking study on consumer attitudes to the security and uses of their personal information – and even more delighted that the study will be conducted every 6 months.
“The high level of attendance at the launch of this study clearly showed just what a key issue this is for the industry. The panel discussion was a huge success, with many interesting points and questions raised by the industry experts filling the auditorium. Particular importance was given to the issue of increasing transparency.”
The research, which involved over 2,000 participants, found that three-quarters of consumers would expect a company to handle their data responsibly if their data protection policy is prominently displayed on their website. The study also revealed that more than four in five consumers feel that an easy-to-use website with obvious security features would reassure them.
Nearly 80 per cent said they would trust a brand if the company sought their permission to share their data with select partners, or if they made clear they would not share their information with third parties. But consumers are quick to withdraw their trust in a company; with half saying just one bad experience would lead them to lose their confidence in a brand’s ability to handle data responsibly. One-third stated that bad press surrounding a data breach or loss would also cause them to believe a company can not be trusted with their data.
Brands and marketers must improve transparency in their collection and use of data if they are to encourage consumers to share their details, the Direct Marketing Association’s (DMA) Executive Director Chris Combemale claimed.
“Thanks to identity theft and numerous well-publicised instances of organisational data losses, consumer confidence in sharing their personal details with businesses is at an all time low” said Mr Combemale. “Consumers are understandably wary of handing over their personal details to companies unless they absolutely have to, such as when online shopping. Brands must be transparent in how they collect and use data, otherwise marketers face the prospect of the well of consumer data drying up.”
Equifax believes brands should be able to leverage this intelligence to inform every part of their communication planning, which should have enormous benefits for ROI on marketing campaigns as well as being key to reputation management. “The DMA Data Tracking study provides a clear focus on where investment should be made, both in best practice use of customer and prospect data, and in Information Security as a whole”, continued Graham Burdett.
“With consumers increasingly aware and concerned about security it is ever more important to comply with data protection as a means of retaining the brand trust invested in a business. And it is equally crucial to give consumers choice over how their personal data is used through their relationships with an organisation. This is particularly relevant in the context of the edited electoral roll.
“Over half of consumers who had opted out did so simply to avoid unsolicited mail. Yet if consumers had a better understanding of how their data from the electoral roll has been – and is – being used, perhaps they wouldn’t have taken this route which potentially could see the register removed from marketing industry access altogether. And conversely that could actually mean more unsolicited mail for consumers!
“As a business built on the integrity of our information security, Equifax has always been an advocate of best practice and we look forward to working with marketers to build on the learnings from this and future Data Tracking studies to help them improve targeting and reduce wastage, as well as, most importantly, protect reputation by sticking to the rules on how data can be used.”
The Data Tracking Study can be downloaded from www.dma.org.uk/research
Follow Equifax Marketing Services on Twitter at @equifaxukm
or find out what’s going on at the Equifax Data Clinic with #dataclinic
For further press information please contact: Wendy Harrison, Cecile Stearn, Margot Tomkinson-Smith or Jenny Staniforth at HSL on 020 8977 9132 / Fax: 020 8977 5200 or Email: jenny@harrisonsadler.com
About Equifax (www.equifax.com)
Equifax empowers businesses and consumers with information they can trust. A global leader in information solutions, we leverage one of the largest sources of consumer and commercial data, along with advanced analytics and proprietary technology, to create customized insights that enrich both the performance of businesses and the lives of consumers.
With a strong heritage of innovation and leadership, Equifax continuously delivers innovative solutions with the highest integrity and reliability. Businesses – large and small – rely on us for consumer and business credit intelligence, portfolio management, fraud detection, decisioning technology, marketing tools, and much more. We empower individual consumers to manage their personal credit information, protect their identity, and maximize their financial well-being.
Headquartered in Atlanta, Georgia, Equifax Inc. operates in the U.S. and 14 other countries throughout North America, Latin America and Europe. Equifax is a member of Standard & Poor’s (S&P) 500® Index. Our common stock is traded on the New York Stock Exchange under the symbol EFX
About the Direct Marketing Association
The Direct Marketing Association (DMA) is Europe’s largest and most influential professional body to serve the multi-billion pound direct marketing industry. Through its unique suite of services and programme of activities, the DMA promotes the business interests of its corporate members and drives the growth of the direct marketing industry as a whole.
The Association supports the professional and commercial development of its members through offering a range of business services, including: networking and knowledge-sharing events; cutting-edge industry studies and research; updates and analysis on the latest political and legal developments; business support tools; and specialised legal advice.
On a wider scale, the DMA UK works to maintain the industry’s self-regulatory framework by developing industry standards of best professional practice; engaging with government and other policymakers on legislative matters that affect the industry; and producing industry standards that guide the sustainable development of direct marketing. The DMA also provides thought leadership for industry, and raises its profile through an active PR programme and ongoing community initiatives.
All of the DMA’s activities are directed at engendering political, commercial and consumer faith in the value of direct marketing.
For DMA press enquires, please contact:
Rachel Aldighieri
DMA PR Manager
Tel : 020 7291 3314 / 07801 573324
Email : rachel@dma.org.uk
Web : www.dma.org.uk