| | OCTOBER 20218I n the digital age, the interests and behaviors of modern day consumers are hard to predict as they continue to evolve immeasurably over time. Over the past decade, there has been a steep rise in the internet-consuming popula-tion owing to the rapid expansion of digi-tal channels. With the growing consumer base on digital platforms, marketers are leveraging big data analytics to person-alize user's marketing experience and convert potential audiences into cus-tomers. Be it an email address, credit card information, geographical location, or any other aspect, marketers are uti-lizing retrieved information of users to better understand pain points, develop new products and services, and custom-ize marketing as per user's interests and preferences.Why value consumer's data privacy?Since data is highly valuable for market-ers and customers alike, its usage has become a big concern. Consumers are reluctant to share personal information with any business unless it is a necessary part of the interaction. The increased awareness towards the breach in data privacy has led to a drastic shift in the data sharing behavior of the consum-ers. In an effort to protect their privi-leged data, many consumers are becom-ing intentional about what types of data they share and with whom. Therefore, the combination of privacy control and EMERGING MARKETING TRENDS THAT VALUE CUSTOMERS AND THEIR PRIVACYBy Mehar Gulati, Founder, Scarlet RelationsVANTAGE POINT
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