What if you ask and they say yes? Consumers’ willingness to disclose personal data is stronger than you think

Technological progressdincluding the development of online channels and universal access to the internet via mobile devicesdhas advanced both the quantity and the quality of data that companies can acquire. Private information such as this may be considered a type of fuel to be processed through the use of technologies, and represents a competitive market advantage. This article describes situations in which consumers tend to disclose personal information to companies and explores factors that encourage them to do so. The empirical studies and examples of market activities described herein illustrate to managers just how rewards work and how important contextual integrity is to customer digital privacy expectations. Companies’ success in obtaining client data depends largely on three Ts: transparency, type of data, and trust. These three Tsdwhich, combined, constitute a main T (i.e., the transfer of personal data)ddeserve attention when seeking customer information that can be converted to competitive advantage and market success.