Value of opt-in customer data

[bu06nne]

My site currently generates around 50-60 'sign ups' a day.

The visitor is signing up to a service we provide.

We collect the following information:

Full Name
Email Address - verified
Job Title
Industry they work in

Further along the sign up process we also collect the following info:

Residential Address
Employment History

Can anyone give me a rough idea on the value of this data if we were to sell to a third party?

Thanks

 

[Edwin]

My site currently generates around 50-60 'sign ups' a day.

The visitor is signing up to a service we provide.

We collect the following information:

Full Name
Email Address - verified
Job Title
Industry they work in

Further along the sign up process we also collect the following info:

Residential Address
Employment History

Can anyone give me a rough idea on the value of this data if we were to sell to a third party?

Thanks

Have the people supplying the data explicitly given their prior consent for it to be sold to a third party?

If not, then you can't.

 

[bu06nne]

indeed, they have opted in to have their data sold and to receive communications from third parties.

 

[PaulGregory]

What percentage of your sign-ups have opted in to whoring their data out? Seriously, ticky-box conscious-decision opted-in - not "ticked agree terms and subsection 3 paragraph 5 mentions use of data just before the bit about the devil's sole role in raising first-born child". 100% is unlikely.

Assuming you are getting people daft enough to tick that box, there's really not enough data to give a figure any more specific than what you can find from doing a web search for third-party signups.

For example, I would think that the nature of the service you provide will colour the true value. An "ideas on spending your six figure bonus" service is obviously different to a "know your zero-hours contract rights" service. Any buyer who doesn't care what your service is will be placing a low per-contact value.

It also depends exactly which third party you're talking about. Some will only pay you for leads that actually convert to sales.

Another variable is how many days you've been collecting information.

It may be easier to sell an advertising slot in an email newsletter - you know how many people you have on your list, and you can give statistics on the kinds of jobs your users have. It's then up to the third party to make a sufficiently interesting offer in their advert.

 

[Edwin]

While I can't comment on the value itself, it's clear that any value will plummet if you start farming the data out non-exclusively.

In other words, you might (assuming the data is high-quality and hard to collect elsewhere) make more from selling it exactly ONCE (with a strong legal agreement to back that promise up) rather than selling multiple copies of it, because then the price per copy drops rapidly towards zero.

 

[retired_member36]

indeed, they have opted in to have their data sold and to receive communications from third parties.

How clear have you made it to your subscribers that their data may be sold? because personally i wouldnt sign the dog up to a site if the data was to be sold. No offence there! I just wouldnt have thought there would be many people willing to agree to that kind of practice

 

[bu06nne]

some interesting responses - the newsletter with ad slots sounds like an interesting option.

suggys - tbh its in the small print.