Dealing With The New Age Of Data Privacy
Dealing with the new age of data privacy can be demanding for many. As the Covid-19 pandemic spread, lockdowns across the globe resulted in a huge boom in on-line shopping when customers scrambled to purchase their favorite items to ensure their security. The tidal e-commerce wave, which grew 44% between 2019 and 2020, created a mountain of data for marketers to use in future campaigns and to target consumers.
In this context, it is increasingly difficult to exploit these data from other tectonic shifts in the marketing landscape. In the first place, the EU General Regulations on Data Protection, the Californian Consumer Protection Act and other regional regulations limit the leverage and movement of consumer data worldwide by companies.
While mobile marketing manufacturer Apple continues to update its mobile operating system with ever more restrictive privacy. iOS 14.5 users must voluntarily share with apps their unique Advertiser Identifier (IDFA).
Digital marketing and the supply of highly personalised ads are fundamental to this kind of technology. By opting out, users are unable to be tracked and reached using marketing messages which significantly dilute digital marketing efficiency. As you imagine, Facebook is a little disturbed due to its 84 billion dollars annual ad sales, which could suffer a major impact from Apple’s move.
The last nail in the coffin is the cookie’s death. By 2022, Google is planning to phase out cookies from third parties in Chrome. So what are marketers now doing with highly-tuned consumer-based growth engines, cookies and last-click credits??
Over the last 20 years, global brands have worked to build technologies and products to unify understanding of users and enable sellers to be more personalised and accurate to serve customers, increase conversions, reduce costs and deliver more value. Consumers are becoming increasingly concerned about marketers and companies who know too much about them.
As we lose more of our marketability, we must concentrate on what our brands stand for and use modern market principles to stimulate growth. Our tips on how to do that are as follows:
- Obtain a clear understanding of your brand — its principles — and its focus, so that your actions can be harmonized clearly.
- Get comfortable using transparent and privacy-compliant identity-based marketing techniques.
- Create and distribute impactful content to target audiences. In places like the New York Times, Netflix etc. It’s highly likely that we will see a significant rise in branded content.
- New metrics are probably going to be needed to master a better landscape. Integrated brand metrics that weave together advertising, content effectiveness, positioning, market performance and satisfaction will likely be crucial in optimizing your brand.
- Build your marketing plan to include frequent and ongoing communication; retrain yourself and your team to approach the media differently.
- Get Imaginative. Use data as inspiration, but link it to human understanding to make an impact.
Marketing change is the only constant in this ever changing landscape. Technology -and this will continue to be the case- has always provided new challenges and opportunities. Those who complain the loudest are not successful marketers; only those who can adjust the fastest.
We are witnessing seismic changes, which will probably affect the way marketers do their job, but the basic truth about marketing stays the same: deliver a message to the user where they are and when they require to hear it, and success can be yours.
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