What Companies Sell Your Data for and Why
Have you ever considered your personal data like a precious gem overflowing with potential? Data is one of the world's most insatiably sought-after commodities, and companies are willing to pay for it.
Discover what companies sell your data, how you can take matters into your own hands, and how to unlock a world where sharing your data leads to incredible benefits and perks!
Why Do Companies Sell Your Personal Data?
Data is the new gold for big tech companies. Hence, the power behind personal data is one of the first reasons they sell it.
Whenever you think about how companies like Google or Meta, formerly Facebook, measure their wealth, think about the amount of available user data they have. The more data they have, the more valuable they are.
Another reason data brokers have emerged is that companies can predict how consumers will react to their products or services by managing consumer data. As the demand for customized services increases, this factor becomes increasingly relevant.
Additionally, because social media and the internet provide easier access to consumer insights, companies can conduct market research where their customers already are.
What kind of information do they sell?
Now, when it comes to the collected data, companies generally sell the following:
Contact info: It's mainly demographic information, such as your name, gender, phone number, IP address, and web browser cookies.
Online activity: Data companies analyze your interactions with their website, text messages, emails, and other online activities to determine which targeted ads to show you.
Shopping habits: Among the qualitative data covered are purchase histories, repeated actions, time spent on the platform, movement, navigation, and more.
Customer needs: Companies use consumer satisfaction, product desire, and purchase behavior data to measure customer experiences.
How much do companies sell your data for?
We've got some news for you if you're wondering how much your data is worth to companies. Your data's price can vary greatly depending on its type and value.
Let's explore the details:
The value of basic personal information
Surprisingly, your name, email address, and demographics are often sold for a few cents per record. Yes, you read that right. According to Towards Data Science, the going rate for such basic information can be as low as $0.0005.
Even so, it's a testament to how much companies will pay for even the tiniest window into you.
The value of more detailed and sensitive data
Did you think that was all? Not at all. More sensitive data, like browsing history, location data, and social media activity, hold different values.
Data brokers sell aggregated and anonymized datasets to eager buyers seeking insights. Depending on the scope and depth of the dataset, prices can range from thousands to millions of dollars.
Though exact figures are difficult to determine, one thing is sure: data is a valuable asset in understanding and shaping the world around us.
5 Companies That Sell Your Data
After a general review of why companies sell your data, what kind of data they sell, and for how much, the time has come to explore some data brokers who are actively collecting customer data, but with a twist!
Together, we'll review some of the most popular, effortless, and even fun ways to share information with data collection companies while still being in control of it.
Forthright is a reputable paid survey site that allows its users to share their thoughts on determined topics and get rewarded. One of the most significant advantages of this platform is its sign-up process. You can easily enroll by entering your email and following the steps provided.
Additionally, all the data shared on the platform is managed professionally. Third parties use it for market research purposes. As a data broker, Forthright also openly shares how the collected information is being used, so by reading its privacy policies, you can access and better understand its business model.
To learn more about this company, visit Forthright's website or browse through their social media accounts!
#2 Survey Junkie
Survey Junkie is a growing community where your opinions can earn exciting rewards. As a Survey Junkie member, you can share your perspective through surveys and even participate in insightful focus groups based on attitudinal research.
But that's not all. Survey Junkie's SJ Pulse Community takes market research to the next level with behavioral insights.
You can trust Survey Junkie to handle your data responsibly and securely. Participation is always voluntary, and you control the information you share. If you're looking forward to exploring it, visit Survey Junkie's website for more details.
#3 Savvy Connect
SavvyConnect makes web browsing fun! SavvyConnect collects data on online searches, shopping, entertainment, and more as you surf the web. The best part is that you earn cash rewards along the way.
Getting started is a breeze. Download SavvyConnect, and within two minutes, you'll be ready to participate in market research by surfing the web on your smartphone, tablet, or PC.
SavvyConnect members enjoy endless rewards. By simply browsing the web, you can earn cash rewards every month. Enjoy exclusive research opportunities that offer even higher rewards, putting even more money in your pocket.
You can rest assured that SavvyConnect prioritizes privacy and safety. Your data is protected, and your personal information is kept confidential. Join SavvyConnect today by visiting their site.
#4 National Internet Observatory
The National Internet Observatory (NIO) is located at Northeastern University and is supported by the National Science Foundation.
To become a contributor, you can install their browser extension, which securely collects data on your internet activities. With those insights, researchers have a deeper understanding of consumer behavior.
For the National Internet Observatory, your privacy matters. Researchers have access to anonymized data, which prevents data breaches.
Oh, and did we mention rewards? That's right—you'll earn exciting rewards as you contribute to groundbreaking research. Join the NIO today by browsing their site.
#5 Nielsen Mobile & Computer Panel
Get rewarded for using your devices with the Nielsen Computer & Mobile Panel. This professional research company values your participation and offers exciting incentives.
As a panelist, you gain access to thrilling scratch-off games with fantastic prizes up for grabs. Plus, throughout the year, you can unlock rewards points that can be redeemed for PayPal cash and gift cards from your favorite retailers.
But that's not all. Installing the app on your computer automatically enters you into monthly sweepstakes, allowing you to win even more amazing prizes.
Beyond the rewards, participating in the panel allows you to make a real impact through market research. Visit the Nielsen Computer & Mobile Panel website now to learn more.
Can I Monetize My Own Data?
As you can see from the examples provided above, yes, you can monetize your data! The National Internet Observatory (NIO) is one of the initiatives among our top choices that is gaining traction in this field.
NIO acts as a powerful intermediary between customers and companies by providing a secure environment for individuals to share and monetize their personal data.
Still, there's more! NIO puts you in charge. It's up to you whether you want to participate. For you to decide, NIO gives you detailed information about its business model. This includes how they collect and share information and how other businesses might use it. All of this puts the power back in your hands.
Is Data Selling Ethical and Legal?
While selling data might raise eyebrows, it's essential to recognize that ethical considerations are important. What does this mean? To legally collect data, people should be fully aware of and willing to exchange that information.
Consider this. When you're willing to take part in paid surveys or market research programs, data selling becomes ethical, which fosters a healthy relationship between people and data brokers.
All these aspects that we have talked about reveal a shift in perspective about sharing personal data. Something that was initially perceived as a privacy concern has turned out to be an exciting opportunity, hasn't it?
So don't worry about data sharing. By participating in these platforms, you'll feel empowered and help shape the future of digital products and services. It's your chance to shape the online world while reaping the rewards and making a stream of passive income.