Research by Deloitte has found that consumers in Australia are willing to share personal information in exchange for personalisation of services.
The study, Deloitte’s eighth annual Media Consumer Survey also revealed that consumers value being able to have their data deleted, and are aware that the decision to have this carried out impacts upon personalisation.
The findings painted a picture of the average consumer’s desire to balance ownership and control of personal data, with 62% of respondents feeling they should be able to ask a firm to delete their personal information, and 65% saying they are interested in knowing the nature of the data being collected on them.
By contrast, out of the 62% who said they should be able to request data erasure, just under a third (31%) said that they would choose this option if it meant personalisation features were reduced.
When asked about which companies respondents trust the most with their data, payTv, streaming services and studios/networks were cited as the least popular choices, with 25, 20 and 15% of respondents’ support, while telecommunications companies and financial institutions were most trusted, garnering 61 and 70% respectively.
Adam Power, lead media partner at Deloitte, said the results show how firms have to do more to earn the trust of their customers:
“A whopping 78% of respondents believe companies aren’t taking adequate steps to protect their personal data. This is an improvement from 85 per cent last year, but this high figure reflects sustained levels of distrust,” Power said.
The Deloitte study explored the popularity of smart speakers, streaming, newspaper and magazine subscriptions, and podcasts. The results illustrated that smart speakers have grown in popularity over the past year, from 9% to 12%, and that ownership levels have increased with wages.
“Pay TV providers, telcos and digital giants such as Amazon and Apple TV are perfectly positioned to develop their existing services and become aggregation power houses,” Power continued.
The research also looked into newspapers and magazines, with results showing that print is still sought-after.
“We’ve found most respondents still prefer physical print versions (59 %) over digital versions (24%), proving that print is a valuable component of the media landscape,” Power said.
“However, subscription music services such as Spotify have emerged as a key platform for podcasts, with almost a third of all listeners accessing them through such services,” he added.
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