More than ever, consumers are beginning to understand that they have the power when it comes to sharing their data. In the not-too-distant future, consumers will require brands to agree to terms of service in order to interact with them, not the other way around. Initially privacy will be the new luxury good, but eventually, it will democratize as more and more people retain digital sovereignty.
What does this mean for brands, and how can they make sense of it in this constantly evolving landscape? I have some thoughts about that. In my daily work with clients, I advise industries on the solution development, business development and marketing development of identity and personal information management solutions. I help them develop the strategies to thrive in the emerging personal information economy.
Understanding the Privacy Paradox
On Thursday, September 20 at Ignite 2018 I will be presenting “The Grand Awakening: The interconnection of privacy, trust, data and the future of individual engagement.” I’ll be referring to insights from a soon-to-be-released global 10-market study on consumer attitudes and behavior toward privacy and trust.
I’ll be exploring ways to create workable strategies that are based on an understanding of what we in the industry call “the Privacy Paradox,” that strange behavior in which people will assert that they want the protection of privacy online, but will usually forgo protection for convenience and value. I’ll be sharing examples of ways that trust is becoming the key differentiator between you and your competition. We’ll be diving into learning more about the nature of trust, honesty, transparency, security and the recognition of digital sovereignty. And I’m going to offer practical, real-world solutions for ways that you, just like consumers, can awaken to this new dawn of commercial engagement before the future passes you by. It’s more important than ever in an era in which success is achieved by those who can engage and serve individuals–at scale–on each individual’s own terms.
If you’d like to learn more about my insights, research, and findings, join the discussion at Ignite –sponsored by YA and The Institute for Research in Marketing (IRM). The annual event is held at the U of MN Carlson School of Management, each session pairs a research scholar and a business practitioner, all with the goal of connecting academic findings with real-world results.
Michael Becker is a Managing Partner at Identity Praxis, Inc.