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Executives Increase Data Security to Safeguard Marketing Technology Insights

Consumer concern and cyber-security risks force rethink of data security strategies

June 22, 2016 | Retail & Ecommerce | Marketing

The topics of marketing technology, data security and privacy are increasingly interconnected. As more organizations rely on marketing technology to provide granular audience targeting, richer analytics and improved online conversions, a greater degree of information—and trust—is necessary from consumers. But that doesn’t mean consumers are handing over such information willingly, or without significant reservations.

Primary Entity that US Internet Users Trust with Their Personal Data, April 2016 (% of respondents)

As many consumer surveys reveal, US internet users are often skeptical of who they trust with the personal data relied upon by marketers, worrying that such information is easily stolen by hackers and cyber-criminals. One April 2016 study from Feedzai and The Harris Poll illustrates the perceived concern, with more than 50% of US Internet users indicating they didn’t trust any organization with their personal data.

Level of Confidence that Their Company Has Acceptable Data Security According to C-Level Executives Worldwide, March 2016 (% of respondents)

It’s amidst this environment of consumer skepticism that many corporate executives are seeking to establish new safeguards to better secure and protect their organizations’ customer data. But not all executives are confident their companies currently offer an acceptable level of data security. June 2016 research from the Economist Intelligence Unit (EIU) found that a significant minority (25%) of C-level executives were either “not very confident” or “not at all confident” their company had an acceptable level of data security.

As more members of the C-suite are forced to deal with cyber-security problems, or at least recognize the threat such attacks present, many are taking proactive measures to address the problem. Based on the EIU’s survey “supporting a proactive security strategy” was the most important action a company’s executives and board could take to support data security, with 32% of respondents mentioning the action.

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