In general terms, for marketers’ data forms the foundation of successful campaigns – it allows us to target the right audience with relevant content, recognize site visitors and more. So how will this change the way marketers consider data?
The principles established by the GDPR that controllers must comply with the following:
So, what would replace the behavioral data collection to enhance ad-targeting?
For many, the answer will lie in contextual advertising. The power of this strategy falls in showing ads based on the content that a consumer is looking at in real time (e.g., a news article, website, news feed, mobile app screen or video game).
If marketers and consumers mutually benefit with a more equitable digital advertising space from the improved GDPR transparency and trust as is expected, other jurisdictions outside the EU may be tempted to do the same, which would mean even greater changes for the digital ecosystem in the years to come.
Complying with GDPR regulations will be crucial, which is why international tech giants such as Google, Facebook, Twitter, Instagram, LinkedIn and Amazon are working towards better protecting consumer data.
Whether you choose to use a tool that applies GDPR standards to your data or reorganize your approach internally, consider the steps these brands are taking when it comes to your own preparation strategy.
1. Customers will be more comfortable sharing data online:
Respecting the rules of GDPR will make it easier for your clients to share their data and personal information without feeling bad about it.
By simplifying privacy policies, GDPR will increase transparency between businesses and its customers, and this will lead to greater trust.
2. Improves transparency in compiling customer details:
The older Data Protection Regulation was formed in 1998, a year when Google didn’t exist and Smartphones hadn’t been conceived. Therefore, this update ensures individuals’ privacy would be finally respected (not only legally) as the fines that will be enforceable under GDPR mean it’s no longer an option to ignore the new rules; they could easily cripple a company.
3. Customer data will be more relevant and highly targeted:
GDPR means that brands will no longer waste time and portions of budgets by targeting consumers who are not interested in converting. Instead, engagements will be more personalized due to the level of detail in the information provided.
In other words, GDPR will force companies to focus on more accurate and unambiguous data for their marketing programs. This in the long term will bring substantial cost savings – as the volume of data decreases, data storage costs will decrease too. Businesses will no longer waste money retaining the personal data of people who won’t buy their products.
4. Better communication between customers and companies:
What GDPR does, is to give marketers the opportunity to say “hey, we really care about you as a person, your data and your privacy” and that can go a long way to build trust. Ultimately, that sort of trust and loyalty that you can gain from customers will go a long distance.
Tips to prepare for GDPR
Processing data securely is becoming the best practice and those brands that do will have an easier time obtaining and keeping access to customer data under GDPR.
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