Our recent Living with Future Britain study looked closely at Digital Futures and what these meant for our consumers. In particular we found that Anonymity Illusion is an important trend for our audiences, this is about privacy in the online world and the idea of data exchange: consumers have told us that they are willing to share their information, as long as they get something in return.
A new brand called Datacoup is letting you ‘reclaim your personal data’, as their slogan states. They’ve piggybacked on the idea that people are happy to share their personal information online (42%) with many more saying that they would do so if they receive something in return. Boston Consulting Group predicted that “applying personal data can deliver a £270bn annual economic benefit for organisations in Europe by 2020”. There is money to be made in data gathering, but currently consumers see none of that, with only 30% even understanding which sectors are collecting and using their information. Datacoup will pay their users the small fee of £4.75 a month to sell their data, helping them to capitalise on the need for data while putting the control back in the hands of consumers, by letting them actively choose to sell their data rather than have it gathered surreptitiously.
Datacoup aggregates all of a user’s data into one space so they can see what their personal data consists of before deciding if they may want to sell it. Datacoup alleviates privacy fears by assuring customers that data is stripped of any personal identifiers before being listed on a database to be sold to marketers and companies looking for consumer insight.