71% of PwC’s “Complexity of Trust” study respondents said they would buy less from a business that lost their trust. Out of that, 73% said they would spend significantly less.
Privacy is now a top consideration and focus for organizations. Any business that is data-driven, that requires personal data to be processed, needs to prioritize data privacy and have a thoughtful perspective on how data is collected and used.
Customers may provide less data, but at the same time expect an organization to deliver relevant and personalized experiences. This is a challenge for all businesses: to have a benefit-driven conversation with customers, led by privacy.
The Customer Data Platform (CDP) is the main enabler for this privacy-driven personalization.