Addressing Consumer Privacy

Transcription

1 Addressing Consumer Privacy and Security Concerns in Marketing Pam McHugh President Mintel Comperemedia Monday, March 16, 2009

2 Agenda Consumers Security & Privacy Concerns How to Alleviate Consumers Concerns Summary

3 Data Sources Comperemedia Panel Static panel, 1,000 active users (manage 2+ accounts online) Track nine sectors (financial, telco, tech, auto, hospitality) Capture sector specific data from and landing page Comperemedia Behavioral Survey Quarterly waves of 1,000 surveys each Attitude and usage of related activity Mintel Reports Publications Proprietary surveys and secondary research

4 CONSUMERS SECURITY & PRIVACY CONCERNS

5 Security Fears are on the Rise In January 2009 alone, 669 stories were printed on the topic of online security, phishing or identity theft Although identity theft increased 22% in 2008, online fraud accounted for only 11% of cases* Over 40% of consumers are less likely to open financial services than they were a year ago** Over 60% of consumers are more concerned with online security than they were five years ago**

6 Familiarity is a Critical Factor Most Influential Factors when Opening Knowing the sender 55% Subject line clearly states offer 20% A need for the product of service Cash incentive or bonus opportunity 9% 11% Your name in the subject line 3% 0% 10% 20% 30% 40% 50% 60% % of respondents Which of the following is most important in determining whether or not you will read a personal business ? (N=1,000)

7 Privacy Information about the products I have purchased online or in-store My address from a company I DO have a business relationship with Consumer Comfort Sharing Personal Information 28% 37% My personal/demographic information My online search information 18% 21% My credit score 13% 0% 10% 20% 30% 40% 50% 60% % of respondents comfortable with sharing What personal information would you be comfortable sharing in order to receive more relevant and useful offers? (N=1,000)

8 Share of Phishing 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% Q Q Q Q Q Q Q Q Q1 2009* *Q includes January 2009 through mid-march 2009

9 Credit Card Phishing Increasing 2007 Sector Share of Phishing Activity % 0.5% 1% 0.0% 0.2% Banking 11% 2% 0.2% 0.2% 0.2% Credit Cards Telecoms Investment Mortgage & Loans 98% Other Sectors 87% N=4,245 N=3,335

10 Which is a Phishing ?

11 HOW TO ALLEVIATE CONSUMERS CONCERNS

12 Certified Features that Impact Percieved Trust in Last 4 digits of account Account login box 59% 59% Company Logo 54% Name in body Legal disclaimer Name in subject line 49% 49% 48% Certified 65% 0% 10% 20% 30% 40% 50% 60% 70% % extremely/very important responses Considering the following features of an , how important is each in making you trust the security/validity of an ? (N=1,000)

13 What is Certified ? Certified is a white-listing technique that allows accredited senders to pass through spam filters while verifying legitimate for recipients The most accepted version of the service is Goodmail s Certified , which gained significant credibility when it became available through Yahoo! and AOL in 2006

14 Putting it Together Company Logo Last Four Digits of Account Account Login Box

15 Putting it Together Last Four Digits of Account Company Logo Account Login Box

16 Word-of-Mouth Credit Cards, 2% Auto, 2% Banking, 2% Insurance, 1% Word-of-mouth is the most trustworthy source of information A quarter of consumers would open an if it was forwarded on by a friend The forward-to-a-friend feature and promotions accounted for roughly 15% of total campaigns in 2008 Mortgage & Loans, 4% Telecoms, 5% Investment, 7% Tech, 28% Hospitality, 48%

17 Word-of-Mouth Promotions Subject: Get $25 from Wachovia Subject: Earn up to $500 in statement credits from Citi Cards

18 Moving into Social Networks

19 Efforts Noted, More Needed 75% Three of four consumers reported that their financial services had an additional authentication process to verify that they are logging on to their official site 50% Only 50% felt more secure as a result Which, if any of your online accounts, have an authentication process after logging into the site? (N=829)

20 Security Features Go Digital Digital Security ID from E*Trade SafePass from Bank of America

21 Innovative Security Features Site Keys from Bank of America Free Trustee identity theft security software from Rapport from ING*

22 Phishing Education Over half of consumers have received educational from their financial services provider about phishing, identity theft and other online security and threats

23 Recommendations Customers Viral Marketing Certified Further education and features

24 Thank You Pam McHugh Mintel Comperemedia