When it comes to data privacy regulations, this seem to be a challenge when our customers are concerned. With them being more conscious of privacy regulations, marketers may struggle to gain their trust when it comes to gathering an enormous amount of personal data. It can be tricky, yes — but there are ways to make them feel secure while doing what we do best.
In light of heightened privacy concerns, data breaches, and the launch of new data privacy legislature, consumers are more hyper-aware and protective of their data than ever before. Martech practitioners describe privacy and data management as a “compliance” matter, but only 36% of participants in the 2019 Martech Salary Survey said they were responsible for data privacy and compliance in their martech stack.
To pursue leads and revenue in a digital world, marketers are tracking behavior, targeting individuals, disrupting journeys, gathering data without implicit consent, and performing identity resolution through our martech stacks. But as consumers take more ownership over their data and privacy rights, these strategies won’t be sustainable forever. These days, we’re entering a digital landscape where privacy and trust will become the “new oil,” explained Schulz.
If marketers are willing to advocate privacy and transparency as core principles of a user-first digital experience, then we can begin to shift the focus from short-term leads to lasting trust and long-term brand value.
Schulz proposes that marketers can start by developing a privacy-forward framework that the organization can uphold.
Consider a real-world approach
Build digital experiences that mirror the customer’s physical experience. This one can be challenging for many businesses, but Schulz offers a unique perspective: “Think about this way. If you were in, say, Target, and there was a person following you around visibly, writing down everything you did, then suddenly they jump in front of you with a sign that indicates what you should do next, how would you feel?”
If marketers start thinking about how a physical experience can be translated into a digital touchpoint, it would naturally foster more transparency and consent from the user. Rather than forcing a sale on someone, marketers should consider tactics that encourage organic engagement, which can be the catalyst for conversion.
Content is king
“Content creates more value than digital interactions. Great content allows you to earn the data, instead of earning the data through trickery,” Schulz said.
Impactful content has the ability to resonate with customers on a deeper level than retargeting and personalization alone. By developing and sharing content that customers can extract value from, marketers can build a relationship grounded in trust and intentional engagement.
“At the end of the day, if a company is bought or sold, nobody fights over the MQLs or customer data points. They care about brand value,” Schulz said.
“When designing everything from blog content to Tweets, marketers need to be asking: are we practicing brand value?”