A decade ago, anyone talking about Data Privacy might have seemed a little ahead of their time. Today, however, Data Privacy has become a trend that every type of business and every brand needs to study and understand, in order to respond to the way people consume information now, as they grow increasingly aware of their personal data rights and place a strong emphasis on the security of their private information.
For these reasons, many marketers find themselves scratching their heads, because online marketing today relies on deep insights to deliver Personalized Marketing that meets the needs of each individual customer precisely. That said, anyone who has read this far should not panic just yet about whether the arrival of Data Privacy will become an overwhelming burden for marketers. In reality, this trend also brings plenty of benefits that make a marketer's job easier. What are they? In this article, Relevant Audience has gathered them for you. Let's take a look.
3 Benefits of Data Privacy That Make a Marketer's Job Easier
- Marketing budgets are increasing to support the Data Privacy trend
As the world of online marketing shifts to a point where most consumers place greater emphasis on "the privacy of their data," this has become one of the reasons that many brands competing in the online marketing space need to increase their budgets to build new solutions while still staying aligned with Data Privacy policies. As a result, brands have to allocate more budget to this area. According to a survey by HubSpot, 48% of marketers consistently reported that, over the past year, their companies significantly increased their online marketing budgets in connection with the emerging trend of Data Privacy.
- Data Privacy makes data more effective
The Data Privacy trend is steering the online marketing world toward a "Cookieless World," meaning that Third Party data collection methods are on their way out. Because cookie-based data collection forces brands to rely on data from various platforms for their analysis, brands are unable to truly own their customer data. But as the marketing world shifts toward collecting data through First Party Data, brands can plan to gather the information they really need, such as various Deep Insights, over the long term and build on it in a more targeted way. (Get to know First Party Data better in this article.)
- More credibility = better data
Traditionally, collecting customer data required brands to gather Third-Party Data, which created limitations for brands and was also a source of annoyance. Moreover, a survey by the Hubspot website found that around 45% of consumers are likely to avoid entering websites that collect customer data through Third-Party Data, because it makes them feel unsafe. Setting aside the transparency of cookie-based data collection, which is one of the main issues, another key factor is that Third Party data collection is not accurate enough. As a result, most consumers end up encountering the same old marketing plans, sometimes seeing ads for products they have already purchased over and over again, which ultimately damages the brand in the long run.
On the other hand, First-Party data collection is becoming the key for modern brands and businesses, stepping in to solve these various problems. It can be said that it helps marketers obtain quality data to apply to their marketing strategies while at the same time respecting consumers' personal data privacy.
Final Thoughts
The topic of Data Privacy is a hot one for brands and marketers who need to do online marketing. New marketers must study it carefully and thoroughly to avoid mistakes that could harm the brand in the long run. That said, if you want your brand to deliver marketing that best meets your customers' needs, don't forget to read our Blog for more. We guarantee fresh new articles with daily updates on the online marketing scene.
Source: Hubspot Blog
Digital Marketing Consulting at Relevant Audience
Relevant Audience is a Digital Performance Marketing Agency whose main goal is to provide digital marketing services that help businesses reach the target audiences searching for their products or services at the right time, place, and device, through various online channels. Our services cover Search Marketing, Social Media Ads, Search Ads, and SEO (Search Engine Optimization), all the way to Influencer Marketing, and we are also part of the Google Partners program.
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