Changing the Market with Your Personal Data

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Scott Adams: Facebook Killer

“Suppose a company offered you a billion dollars in exchange for a portion of your privacy. To make this arrangement palatable, imagine that the company promises that your data will only be used anonymously. You don’t totally trust them, but it’s not as if you rob banks in your spare time. You don’t have much to hide.”

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Your personal data has value.

People are currently sharing a lot of content about their past, recent and distant. If people started sharing their future plans, it could optimize the function of advertising.

Affect on Marketers:

If incentive was provided for sharing future plans, advertising could be directed to the specific needs of the consumer. As Adams notes, it could transform advertising from a nuisance into a tool. This would be a huge asset for marketers, brands, and products. It would increase the value of advertising for both parties exponentially. More product would move, and brand value would increase. Sentiment would increase as well.

What does that mean for the rest of us?

It is important for us to recognize the value of our personal data, both for brands and for ourselves. If we were willing to put forth the effort to participate in an exchange like this, it could save us time, money, and effort. We could more easily find deals and discounts related to our real-time needs. We could have easily accessible insight for gift giving, with related offers at our fingertips. The key here is, who are you going to trust with your data? How much is it worth to you, and how much privacy are you willing to part with for convenience?

What do you think?

Please share your thoughts in the comments section.

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