{"id":7883,"date":"2022-08-29T06:59:00","date_gmt":"2022-08-29T13:59:00","guid":{"rendered":"https:\/\/www.salesforce.com\/?p=7883"},"modified":"2022-08-29T06:59:00","modified_gmt":"2022-08-29T13:59:00","slug":"salesforce-ethical-data-management-report","status":"publish","type":"post","link":"https:\/\/www.salesforce.com\/au\/news\/stories\/salesforce-ethical-data-management-report\/","title":{"rendered":"New Research Reveals 4 Ways Businesses Can Maximize Trust & Savings with Personalization"},"content":{"rendered":"\n

Businesses rely on personalized digital experiences \u2014 from a special offer sent to a customer after they\u2019ve browsed certain products, to the platforms they provide to contact customer support. <\/p>\n\n\n\n

But for many companies, there\u2019s a hidden cost of personalization: creeping out consumers with invasive ads and offers that trade on people\u2019s personal data in unexpected ways.<\/p>\n\n\n\n

As consumers grow more aware of data privacy, their peace of mind is essential to unlocking the benefits of personalization. Salesforce calls this ethical personalization: digital experiences built to enhance trust. <\/p>\n\n\n\n

But just how much is ethical personalization worth? We engaged with tech industry analyst firm Valoir<\/a> to research how consumers and professionals alike feel about today\u2019s data policies and practices. Using survey responses and in-depth interviews with CIOs, CMOs, privacy and legal leaders, and other specialists who do this work every day, Valoir dug into the gap<\/a> between consumer data and the companies that utilize it \u2014 revealing just how much value can come from empowering their efforts with ethical tools and services. <\/p>\n\n\n\n

Consumers want their data handled ethically <\/strong><\/h2>\n\n\n\n

More than one in five consumers worry about how their personal data is used or sold<\/strong>.<\/p>\n\n\n\n

That\u2019s according to Valoir\u2019s 2022 Customer Experience Survey. And in its latest report, the analyst says this is a major problem for businesses. <\/p>\n\n\n\n

Consumers want personalized experiences<\/a> \u2014 but not at the expense of their privacy. One in three consumers, the new report also says, believe marketing has gotten \u201cway too creepy\u201d and only one in four understand how cookies work. And yet, 3 in 10 <\/strong>say they are willing to share data with companies, provided they get value in return.<\/p>\n\n\n\n

Striking the right balance between personalization and privacy can be a daunting challenge for many businesses \u2013 especially as regulators introduce new and inconsistent guidelines<\/a>. <\/p>\n\n\n\n

\u201cMarketers are increasingly challenged to deliver engaging personalization and ensure customer data is managed ethically,\u201d says the report\u2019s author, Rebecca Wettemann. \u201cWe found that, without the right software in place to ensure data is managed properly, companies are draining marketer and developer productivity, losing valuable data, and missing out on opportunities to build better relationships with customers.\u201d <\/p>\n\n\n\n

Ethical personalization can unlock savings <\/strong><\/h2>\n\n\n\n

So, what can organizations do to stay connected with their customers in a trusted and efficient way? The report finds that personalization and privacy don\u2019t have to be at odds, and that companies can actually unlock value and savings from implementing data ethics<\/a>. Here are four key insights uncovered by the data:<\/p>\n\n\n\n