Will consumers share personal information for more relevant ads ?

Will consumers share personal information for more relevant ads -engsbook.blogspot.com

If consumers have more power and control, personal information should flow more efficiently to the benefit of both consumers and advertisers, who will be able to more accurately aim their ads. The key question is are consumers really willing to share their personal information with advertisers to get more personally relevant ads ?

There is personal information like email address, name, zip code, etc and then there is another personal information like, education, the magazines you read, where you live and where you shop and what kind of car you drive. Believe it or not, there are a number of start-ups who can connect what you do and what magazines you read to your interests. For example, if you have an MBA you’re more likely to prefer a blue pen over a black pen.

So the question becomes will consumers share this information, without their names, emails or location, with marketers to get more personally relevant ads ?

Perhaps no other channel has had as much impact on consumer behavior as the Internet. As more and more people go online they discover a world of information at their fingertips 24/7. The problem with all this information, however, is that it can quickly turn even the most mundane searches into hours and hours of searching for the information people want. Web 3.0 was supposed to help with that but with the popularity of social media that has taken a back seat for now.

Consumer Reports’ June 2010 State of the Net survey highlights the increased adoption of social networks likeFacebook across households and also underscores some of the privacy and security risks associated with social networks . One of the most interesting elements of the survey was just many users are unaware of – or care – about privacy settings when it comes to social networks.

Consumer Reports said one of the four households with a Facebook -Account has users who aren’t aware of or don’t choose to use Facebook’s Built -in privacy controls . While this gives some credit to Mark Zuckerberg’s “privacy is dead” declaration, it still It makes us think , especially as basic information , taking into account used on Facebook — like your full name and birthday — can be utilized in identity theft.

This is an amazing finding considering the uproar of privacy that erupted when Facebook make some changes to the way others see data? If you want to get something you’re going to have to give up something and if consumers can see value in the exchange of personal information they will most likely go along. Marketers and advertisers, however, are going to have to convince people that advertisers are not seeing their names and emails addresses. Rather what they are seeing is someone who likes to read The Wall Street Journal, has an MBA and shops at Whole Foods.

We have a long way to go to convince people that by giving up some personal information they are not going to get SPAMMED or see ads for sexual aid products. Advertisers have to do a better job targeting using psychographics rather than demographics and marketers have to do a better job to make ads more personally relevant to micro segments. This means an LOT of ads with different messages for each segment. The payoff could be a higher ROI for online advertising and happier consumers who are finally seeing ads that intrigue their interests and warrant a click.

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