How marketers can overcome data privacy challengesOctober 11, 2021
Consumers care about data privacy. In 2021, they know more about how their data is collected, stored, and shared, and they want more control. This presents a unique set of challenges for marketers because data collection has become so closely tied to the modern consumer experience. Would we have witnessed the same exponential growth in e-commerce without personalised advertisements and targeted promotions? Likely not, because consumers and marketers alike have become dependent on personalisation to enhance the modern shopping experience.
Apple recently changed how it will handle consumer data by increasing privacy and protections around users’ information. With such a global super-power joining the trend toward increased data privacy, marketers need to keep these advances in mind as they strategise future efforts. An increase of regulations around data will inevitably limit the ways marketers can pull information about consumers, and this will change how we craft marketing initiatives.
These challenges can only be overcome if marketers focus on the unique and personal values of the consumer and make efforts to build the company’s rapport with buyers. In many ways, these challenges are beneficial for the marketing industry because they will encourage innovation and adaptation. These are the three initial steps marketers need to take in order to find and reach customers in the age of data protection.
Get to know customers on a deeper level
The cookie is on the way out, and no, I don’t mean the dessert. Third-party data collection— “cookies” to most— lost their allure because consumers are skeptical and privacy laws are increasing. This is good for marketing, though, because it will make the industry less lazy. We have long relied heavily on background data collection that yields minimally helpful results. With changing data regulations, we will have to get to know our customers differently and at a deeper level. This will transform the marketing world.
Brands and marketers must look beyond typical third-party data, like general demographics or the time users spend on a page, and understand the specific interests and objectives of their customers. The next generation of marketing will run on an intentional brand-to-consumer relationship where collaboration—likely in the form of sharing data and incentives between parties—will drive purchasing power. Consumers want relationships with the brands they prefer, but many companies don’t focus on building this type of loyalty. If marketers strategise and embrace these changes in data privacy, they can cultivate better customer relationships and brand loyalty.
Give power back to consumers through personalisation
At the same time that customers want privacy from looming corporations and advertisers, they also want products and offers that suit their individual needs. This juxtaposition, coupled with changing privacy laws,…