Consumers trust and interact with brands that are transparent and upfront
Data businesses are the constant subject of scrutiny. The prevailing connotation is that data companies are mischievous by default; they process an individual's personal information and are entrusted by a consumer to keep information safe and out of unwanted hands. Data businesses are construed as creepy.
The fix is simple. Transcend skepticism with transparency and trust. If milk, children’s toys, and processed meat all have warning labels about consumer benefits and risks, so should data companies.
At first pass, data companies view these regulations and obligations
as an operational burden that negatively impacts user conversion and retention. The thesis is that warning labels can scare and confuse a consumer and attract problematic consumers interested in finding loopholes. At Argyle, we do not see it this way.
We released an introduction screen providing disclosures on who Argyle is and how it works with consumers and our clients. It’s an extra screen to view, a button to click, and time to spend. Conventional wisdom is that this should have a negative impact. Instead, account connection success increased by 5% in A/B testing as a result.
As it turns out “don’t be creepy” is not just good legal advice, but it’s also good business. Consumers trust and interact with brands that are transparent and upfront; consumers understand warning labels, like reading them, and make choices based on them. Good. Argyle is a consumer benefit and transparency around our service for clients, partners, and consumers can only help spread the word. We want influencers to repost our warning label for the world to see.
Throughout our operations, we have infused the “Don’t Be Creepy” mantra.
1. Argyle’s income data connector tool for consumers, Argyle Link, shows the parties involved and the terms being entered in consumer-friendly text.
2. Argyle customizes its welcome screen based on the industry in which our client operates.
3. Argyle’s legal terms are graphical and simple to understand.
4. Argyle provides consumers clear ways to manage their data sharing settings with a client.
At Argyle, not being creepy leads to better outcomes for our clients and the consumers they are working with. As we work to build high trust, high conversion interfaces for consumers, more control and transparency will be added including:
1. A learn more popup
2. An interface for users to manage all their data and sharing settings