Foreword by: Jodie Sangster, CEO, ADMA
Recent changes to the Australian Privacy Principles are likely to affect companies and consumers when it comes to the sharing of personal data and the resulting information exchange. As an organisation it is important that you are aware of your obligations around compliance, but it is also important to understand how consumers are feeling to better inform your marketing and business decisions.
When combining the legislative requirements with consumer attitudes, we believe that you will have a more rounded and comprehensive understanding of how to manage the information exchange.
Interestingly, consumers are willing to share their information with companies who demonstrate good behaviour around obtaining personal information, but they don’t trust brands that ask for too much personal data or sell it on for financial benefit. What this means is that you can be a great brand, but that’s not what’s important to the consumer when deciding whether to disclose their personal information. It’s about brand behaviour, the degree to which companies are transparent about what they do with personal information and making sure it’s not overused. These are the contributing factors to building trust. If your behaviour is questionable, customers aren’t going to want to deal with you.
The research provides a great amount of insights around how to build trust, transparency in your communications and how to ensure your customers feel in control. I encourage you to apply this to your business.