| | OCTOBER 20219personalization is forcing new trends in the marketing do-main. As part of an ethical organization, marketers must en-sure the protection of customers' data by collecting them in a way that is deemed to be legally right and safe.To be successful in the fast-paced world, one needs to be aware of the trends of tomorrow. Here are some of the emerging marketing trends that value customers and their privacy.Data TransparencyEmbrace transparency in new and meaningful ways for col-lecting and using consumer data responsibly. Build first-par-ty relationships with consumers by asking them for consent directly before retrieving personal information or opinions about a product/service. The organizations should inform the respondents how their data sharing can create value for the business. This way the marketers can empathetically en-gage with consumers at scale and preserve them for the long term. For instance, one can ask for the user's geographical location in exchange for push notifications to inform him/her about any upcoming sales or other lucrative deals on products or services they offer. Third-party Risk AssessmentWhile working with a third-party vendor, an organization cannot afford to take any chances when it comes to protect-ing valuable consumer data. Third-party risk assessment helps the organizations to gauge the level of risks associated with a third-party vendor providing them products or ser-vices. Assessing outsourced third parties will help the organ-izations to determine specific areas of risk that need to be monitored thoroughly for implementing additional controls and mitigate the risks.Data Privacy LawsOver 70 percent of countries have data privacy laws in place or are drafting new laws for the same. The primary goal of data privacy laws is to ensure the protection of collected consumer's data and any agency that violates these laws are liable for a hefty fine. For marketers, the challenge with data privacy laws is using the retrieved data responsibly and ensuring unauthorized parties do no access it. Therefore, good digital marketers must put certain measures in place to avoid unnecessary liability such as creating a page for security policy, informing customers on how their data will be utilized, and complying with customer requests to access their data or requests for not using it. These new regulations have created an opportunity for B2B marketers to bring life into practices that would lead to impactful engagements with the users. For a more proactive approach to compli-ance, the companies must have a high degree of communica-tion and coordination within the ecosystem.Compliance programsCompliance programs are designed to ensure that the mar-keting, advertising, or sales content follows the set rules and standards to protect the consumer from false claims and abuse of data. Businesses need to follow national and inter-national guidelines while sharing product specifications in their marketing collaterals that are truthful and evidence-based. Also, they need to share appropriate warnings on physical products to ensure customer safety and protect themselves from a legal perspective. Besides, the market-ers must understand that if any user does not want to ac-cept cookies while visiting their website then they are not someone who would be interesting in buying their offered products or services so compliance is instrumental not only from a legal perspective but also from a business standpoint.The brands that put consumer data privacy at priority are reciprocated with consumer trust, higher purchase in-tent, and brand favorability. The future of advertising would depend on the responsible use of data therefore the market-ers should follow an ethical approach while requesting per-sonal information from the user. Educating and empowering consumers by helping them to make informed decisions can help the brand to target their audiences in a more significant manner and enjoy the benefits. THE PRIMARY GOAL OF DATA PRIVACY LAWS IS TO ENSURE THE PROTECTION OF COLLECTED CONSUMER'S DATA AND ANY AGENCY THAT VIOLATES THESE LAWS ARE LIABLE FOR A HEFTY FINE
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