The Facebook-Cambridge Analytica scandal has spurred many consumers to think about their personal data and how much value it has. And according to a recent study, many people think their data has a lot of value.
In a May survey of 3,024 US internet users conducted by Radware, most indicated that they value their personal data more than their wallet, car, phone or house keys. Respondents worried most about their social security number becoming compromised.
Now, the data needs to be put in perspective. For one thing, online surveys don’t always generalize to the entire population. Those who agree to complete a survey about personal data are a self-selected group that probably care more about data security than the average person.
Even more importantly, it is necessary to note that while consumers regularly express concern about data security and privacy, their actions tend not to reflect that concern.
Nonetheless, the Radware data indicates a heightened level of concern. And marketers are not ignoring that.
In a May survey of 1,000 senior-level marketers and CMOs worldwide conducted by Dentsu Aegis Network, about three in 10 respondents said that a data breach was the strategic risk that they’ll worry about the most over the next few years. Those surveyed worried more about misuse of consumer data than they did about increasing competition and the dominance of ad tech platforms.