Much Valuable Information Is Inaccurate, Unavailable

Share this content:
When one thinks about all the arguments for guaranteeing privacy to consumers, one conjures all the different facts that marketers, including financial institutions, have available to them. But let's think about the valuable information that marketers are not privy to because it is not available or nonreleasable or inaccurate at best. Here are samples:

• Household income, which is never real. It is generally estimated. The data come from product warranty registrations, surveys and questionnaires. It is not verifiable.

• Home value. Much of the current information is based on the 1990 census. Whether it is appraised value or previous acquisition cost, that was the basis for estimating home markets. The only thing we do know is that it is 1990 data.

• Net worth. No one knows net worth except the individual. It is not available from any public source.

• Age of children. Is it really private information? Unless you are selling children's books, insurance, etc., it probably has little value.

• Mortgage. The mortgage amount differs with the borrower's investment philosophy. Does one want a high mortgage or a low mortgage? It is not indicative of the worth; therefore, it is not true or accurate information.

• Bank balance. Vital information but not available.

• Investment holdings. Real estate, stocks, funds, bonds, etc. Entirely unknown by the marketing community but most valuable if the information were available.

There you have it. Some super consumer information that is worth a fortune to the DM industry, but privacy advocates need not be concerned. It's a no-brainer.

Robert Dunhill, President, Dunhill International List Co., Boca Raton, FL


Next Article in Marketing Strategy

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above