DMA News July 2010

Welcome to the DMA news for July 2010.

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New research jointly published by the DMA and fast.MAP has revealed that trust in a brand is the key factor in encouraging consumers to share their data with marketers.
According to the findings of the inaugural Data Tracking Study, 54 per cent of consumers cite their trust in a company as the top reason for why they are willing to hand over their data.
42 per cent said they are happy to do so if the company provides them with an essential service. However, only a quarter said competitions, free samples or the offer of money-off vouchers would encourage them to sign over their details.
Consumer perception of the trustworthiness of brands to hold their data
Nearly half of respondents polled said that they'd had a bad experience which caused them to lose trust in a brand.
One-third said negative stories in the media about a company mishandling data would convince them to withdraw their trust.
Commenting on the report, Chris Combemale, the DMA's executive director, said that building solid relationships with their customers should be at the heart of brand communications if they are to encourage consumers to share details about their buying habits.
The biannual Data Tracking Study will monitor consumers' trust in brands to handle their data responsibly to help marketers understand the barriers they face in gathering vital data about their customers.
The report can be downloaded from the DMA website: www.dma.org.uk/research