"Marketers must seize the opportunity to develop a data culture fit for the 21st century economyâ

Shifts in consumer attitudes to privacy and wider awareness and acceptance of the sharing of personal information are shown in a new report from the DMA in partnership with Acxiom.

Published today, the report independently produced by the Future Foundation, highlights trust and consumer control as the key drivers for building a healthy data culture in the UK to benefit both consumers and business.

DMA Group CEO Chris Combemale said, “Marketers must seize the opportunity to develop a data culture fit for the 21^st century economy. The shifts in attitude suggest consumers are more interested in creating a progressive culture of data exchange. Brands need to capitalise on these positive trends and take the lead by nurturing the growing pragmatism and helping create a culture of data exchange that will benefit all.

“Without trust, brands will not grow. They must look at the way they deal with consumers and their data, and take their privacy concerns seriously.”

Trust stands out as the most important consideration for consumers. 38.9% ranked trust in an organisation as the top consideration, almost four times the next most popular choice, which was free services and products (10.1%).

The proportion of consumers who expect to exchange information when buying something has risen from 65% to 73% since 2012, indicating an acceptance of the notion of data exchange.

Furthermore 55% are comfortable with the idea that free products are available in exchange for data. Just over half (51%) believe data sharing is ‘important to the future success of the UK economy’.

A ‘Consumer Capitalist’ mindset is also on the rise. Those who see their data as their own to trade has increased from 40% to 52% showing consumers are more aware of the potential their data has to deliver benefits to them in the digital economy. These encouraging trends show there is an opportunity for businesses to cater to consumer preferences.

Acxiom’s European managing director, Ian James, said, “The customer has to come first but with the growing number of channels, media and devices we must connect data to drive value to customers and more consistent, relevant experiences. We must also make sure we’re passionate about understanding how consumers feel about data, how we collect it, use it and make it work for them. Anyone wanting to put the customer first must start here.”

Contact:

Ed Owen, PR and Content manager

T: +44 (0) 207 291 3324 |M: +44 (0)7813 664656 |E: ed.owen@dma.org.uk

About the DMA

The DMA is a UK trade association for the one-to-one marketing industry - those companies that speak directly to their customers and those companies that help them achieve this. The DMA provides best-practice guidelines and legal services for its members, who are typically marketing, advertising and data-driven organisations.

More than 1,000 companies in the UK are DMA members. The DMA also holds industry events, conducts research and publishes reports, lobbies for legislation to support its members’ business practices and has a close working relationship with the Information Commissioner’s Office. All DMA members must comply with the DMA code, which is available to read here: http://dma.org.uk/the-dma-code

About Acxiom

Acxiom is a recognized leader in marketing services and technology that enable marketers to successfully manage audiences, personalize consumer experiences and create profitable customer relationships. Our superior industry-focused, consultative approach combines consumer data and analytics, databases, data integration and consulting solutions for personalized, multichannel marketing strategies. Acxiom leverages over 40 years of experience in data management to deliver high-performance, highly secure, reliable information management services. Founded in 1969, Acxiom is headquartered in Little Rock, Arkansas, USA, and serves clients around the world from locations in the United States, Europe, Asia-Pacific and South America. For more information about Acxiom, visit Acxiom.com.

About Future Foundation

The Future Foundation is a leading international consumer futures business. Our core expertise is based on identifying and forecasting social and consumer trends and determining the extent of their impacts on markets, services, brands and products. Since our launch in 1996, we have worked to meet the strategic needs of businesses through the application of insight. We identify, measure and examine trends, attitudes and behaviours through the rigorous analysis of quantitative and qualitative research. Our robust programme of research provides businesses with the grounding and confidence to anticipate the likely impact of the evolving consumer environment and identify new market and revenue opportunities.

www.futurefoundation.net