A study titled “Secure the Trust of Your Brand: Assessing the Security Mindset of Consumers” was conducted by the Chief Marketing Officer (CMO) Council and Opinion Research. The results were released on Monday, and reveal increasing concerns expressed by consumers, many of whom have actually stopped a transaction because of concerns over the security of their personal information.
More than 2,200 consumers took part in the survey. Of this number, 30% indicated that they have always been worried about information security. The study also found that 43% of consumers in the U.S. have actually stopped a transaction in a store, on the phone, or online because of security concerns. This usually occurred when a retailer requested personal information that the consumer was not comfortable sharing.
25% percent of the respondents indicated that they were “a little” concerned about security issues, 23% said they were “more” concerned, and 12% said they were “very” concerned.
Respondents also indicated that they were more concerned about personal information security than they were with terrorism and personal safety issues.
European consumers seem to be more worried about identity theft and fraud possibilities than Americans. Thirty-eight percent of European respondents say they have always been concerned, while also indicating that Internet transaction security is their biggest information-related concern.
When consumers in both the U.S. and Europe choose a brand, they rank the following in order of importance:
1.Products and services
2.Treatment of customers
3.Honesty and ethics
4.Security provided to customers
5.Employee treatment
6.Environmental concerns
7.Social responsibility
A key point of the study found that there is plenty of room for companies to set themselves apart as leaders in consumer trustworthiness.
“When we asked which service brand has the most trusted reputation, you got answers across the board. There are no proven leaders, so there is an opportunity here to differentiate through marketing and messaging,” said Scott Van Camp, editorial director at the CMO Council.
The banking industry was deemed the “most trusted” with regards to protecting their customers’ security, followed by hospitals and law enforcement. On the other hand, online merchants, telecommunications, and wireless companies and stores were seen as the least trustworthy.
Sources:
http://www.clickz.com/showPage.html?page=3623088
http://www.dmnews.com/cms/dm-news/database-marketing/37770.html
http://www.adweek.com/aw/national/article_display.
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