Treats personal data indicates how it views and respects its customers according to a 2022 Cisco survey. This is the highest percentage since Cisco began tracking it in 2019. Consumers are taking action: 76% say they would not buy from a company that they do not trust with their data. 37% indicated they had indeed switched providers over data privacy practices. 53% say they manage their cookie settings from a website before accepting. Moreover all of the media coverage around ChatGPT has made consumers much more
Aware of the power
AI even at this early stage in its lifecycle. While 54% of consumers are willing to share their anonymized data to improve AI products 65% have already lost trust in organizations due to their use of AI. AI has supercharged marketers’ ability to business database engage with consumers on a personal level. However marketers must wield this newfound power responsibly and ethically. Striking the right balance between marketing innovation and consumer privacy is both a moral and strategic imperative. To succeed in the long run marketers must
Prioritize data privacy adhere to ethical guidelines and champion responsible AI use. By doing so they can build trust foster customer loyalty and BOLD Data reap the benefits of ethical marketing practices that align with the values of today’s socially conscious consumers. Ethics are not a hindrance but a competitive advantage in today’s world. Get MarTech! Daily. Free. In your inbox. Business email address Get MarTech in your inbox. See terms. Opinions expressed in this article are those of the guest author and not necessarily MarTech.