Coronakaos is creating problems for the Hong Kong Stock Exchange

Charlie Taylor

Published: March 7, 2022, 14:19 Updated: March 16, 2022, 09:40Companies today know more about us than ever before. By accepting cookies, companies access personal information about what we value, which disturbs many consumers. Research shows that trust can be regained through companies being open and transparent.Work smarter with AI, ML and automation read more here. Every day we are faced with the question of whether to accept cookies. Most people click yes out of the blue because otherwise it is said that the reading experience deteriorates. Others see the offer as a pact with the devil himself, where everything you do online is carefully saved and the ads you receive are then tailored to what you have revealed about your behavior online. Maybe the truth is somewhere in between, but the fact is that many consumers disapproves and finds it a violation of privacy that any virtual big brother maps the least clicks on the internet. According to Verizon Business, almost two-thirds (64 percent) of consumers are disturbed by brands that engage in so-called third-party cookies, ie mapping of what the consumer does online and that personal ads and offers are designed accordingly. Not infrequently, this can also result in unwelcome spam emails.

Significantly more transparency

Instead of using this type of mapping in secret, there are now alternatives, which will also make the individual consumer feel less monitored. It is first-party data and is based on much more transparency companies are open about how the facts they collect are used and who is allowed to take part in it. In this way, customers’ confidence in the brand also increases. The reason why consumers today accept cookies, and thus share sometimes quite personal information, varies. According to Verizon’s survey, one in four states that they do not feel they have any choice but to accept cookies. Approximately as many people appreciate the service it entails to have a tailor-made service. The conclusion that Verizon draws from its survey is that consumers, in general, appreciate having an individualized experience, which is based on their own needs and interests. But you accept this order as long as it is open and transparent, that you get full information about how the information you share is used.

Trust is gained when companies are open and honest

The same goes for new and emerging technologies such as AI, face recognition and speech recognition. Here, too, there is a fairly widespread skepticism among many consumers, but acceptance increases when companies openly declare when and how they use AI as part of customer interaction. The conclusion is obvious: trust in the customer is gained when companies are open and honest about their intentions and report how all collected data is used. More than half, 52 percent in a recent global Verizon survey, stated that they would continue to use a company, even if the company had access to their data without their consent. This is provided that the companies are open about how the information they have received is used. In the end, it’s all about trust. Customers are willing to share their data and behavior online if they get something in return. A value exchange must take place that is perceived as oneself as a customer in some way benefiting in the process and not just being exploited. No one likes when someone walks behind his or her back. This applies both in real life and online.Work smarter with AI, ML and automation read more here. Do you want to know more? Follow Verizon Business on LinkedIn and Twitter: Craig Palmer’s LinkedIn VBG LinkedInVBG Twitter

Facts

Cookies that are used, for example, to gather information for advertising and tailored content as well as for web statistics can be so-called third-party cookies. These types of cookies come from someone other than the person responsible for the website, such as an advertising company. An advertising company can place ads or statistics services that map users’ browsing habits on different websites. Your surfing habits can therefore potentially be mapped on all websites that use the same advertising or statistics service. Since third-party cookies make it possible to create more comprehensive mappings of the user’s surfing habits, they are considered more sensitive from a privacy perspective. Therefore, in most browsers it is possible to set so that third-party cookies are not accepted, while other types of cookies are allowed. (Source: PTS) The article is produced by Brand Studio in collaboration with Verizon and not an article by Dagens industri

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