Personal data is a valuable commodity. Many people will happily tell a brand their age, their income, their education level etc, as long as they get something in return. Points, coupons, gifts, cash – the more you want to know, the higher the payout. $5 might get you a three-page online survey, but if you want someone to show up for a focus group, it’s going to cost $30 and up.
Every year, big brands fork over millions to either gather or buy data on their customers but NBC just got 300,000 people to give up their personal data for free.
Okay, so they had to pay out $2.6 million to the winner of their flop of a summer game show but that’s chump change compared to the value of the acquired data.