Consumers don't trust tech companies with their data

There is a high degree of mistrust when it comes to the technology sector managing people’s personal data. This is according to a new report from the Chartered Institute of Marketing (CIM), that got released late last week.

According to the report, just six percent of the public trusts businesses in the technology sector to handle their personal data responsibly.

Fast moving consumer goods sector is the worst (one percent), followed by media and the publishers (two percent). Financial services (34 percent), pharmaceuticals (25 percent), and professional and business services (16 percent) are at the other end of the spectrum.

Chris Daly, chief executive of the Chartered Institute of Marketing, comments: "What’s most worrying about these results is that they are unsurprising. In our interconnected, 'always on' world, being bombarded with irrelevant materials has become the expected or the norm. It's not good enough and it's eroding the trust between customers and businesses. We need to act now and this is why we are asking organizations to take the Data Right pledge, to commit to showing greater respect and accountability to their customers."

"Businesses have a responsibility to their customers to be transparent, respectful and clear about how they use their personal information. Not only is this best data practice, but it ultimately will help consumers feel more confident and enjoy the benefits of sharing more personal data with businesses. The more data is shared, the easier it is for companies to provide relevant, targeted communications to consumers. But until businesses step up and show their commitment to best practice, they risk alienating their customers and damaging their brand," adds Daly.

To combat this trend, CIM has launched a new campaign entitled Data Right, calling on businesses to be more responsible with data. The campaign highlights four things businesses need to do: be clear, show respect, be in the know, and show the benefits.

Published under license from ITProPortal.com, a Future plc Publication. All rights reserved.

Photo Credit: Sarawut Aiemsinsuk/Shutterstock