Data Transparency Is a Must for Addressing Privacy Concerns

even mean delivering an experience that gets him in and out of the store quicker, a 180-degree turnaround from previous strategies. This new KPI takes into consideration consumers’ valuable time and leads to an increase in consumer loyalty.

Becoming transparent about data

Not surprisingly, the success of a relationship between a company and its customers largely depends on trust. With 56 percent of consumers still manually entering their credit card information each time they make a purchase, rather than having their information stored online and entered automatically, security obviously trumps convenience.

To build trust with consumers, the most successful marketers communicate how the data they collect translates into valuable insights during a customized experience. Here are some basic steps marketers can take to ensure they are being transparent with their consumers:

• Ensure a policy is in place to communicate how consumer data is being utilized.
• Share data and analytics policies on the company Web site so that they are readily available to consumers.
• Offer opportunities for consumers to opt in or out of push notifications after making a purchase.
• Once they opt in, provide options for consumers to tailor content and experiences based on the data collected.

This holiday shopping season will again be a testament to how social media, mobile devices and applications, and analytics are creating new opportunities for companies to interact with their consumers. The transformation of marketing from something you do to a consumer into something you do with a consumer opens up a whole new opportunity for companies to develop more loyal consumers. At the heart of the new relationship is the use of data insights. How sustainable this relationship can become will also depend on how serious businesses get about customer value and transparency.

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Glen Hartman is the global managing director for digital transformation at Accenture Interactive, a division of Accenture Digital. Follow him on Twitter @HartmanGlen and Accenture interactive @AccentureSocial.

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