Consumers Are Leading the Data Privacy Transition

The third-party data landscape is changing already. In the us, 35 states plus the district of columbia have introduced or considered nearly 200 consumer privacy bills. What’s driving these changes? Consumers.

Recent research by axway found that 90% of respondents want to know what type of data businesses have gathered about them, and 42% are “very concerned” about their online data security. Consumers are leading the data privacy revolution, and as a result, the marketing industry as we know it will look different.

As we’ve discussed in previous blogs, third-party data is going away. If businesses want to sit back and watch consumer data changes, they will get left behind. Without quality, relevant data, it’s harder to identify and engage prospects, close deals, and have complete visibility into how sales and marketing departments are doing.

Customers want their data treated with respect

They have high expectations for brands. A salesforce survey found that 66% of consumers want businesses to understand their unique needs and experiences. And 62% of consumers want businesses to care more about them. Businesses must reviews understand consumers in order to engage them and provide meaningful brand interactions — personalization is the key to doing that effectively.

Relying heavily on third-party data to personalize your marketing can be a recipe for disaster (and lead to declining sales). Fortunately, there’s a straightforward solution to overcome these challenges and changing legislation. Collect your own customer data.

The best way to get started is to assess your data reliance baseline. Ask yourself: how much does your organization rely on third-party data.

We recently conducted a research study

To find out how professionals view these CU Lists changes and how they currently gather and use data. In today’s post, we’ll explore how you can upgrade your marketing in light of these changes.
Because third-party data will go away eventually (it’s a matter of when, not if), businesses need solutions to shift data practices while still being able to understand and connect with consumers. It’s essential to identify how much third-party data you use so you can see how your marketing will be impacted. Now’s the time to make changes so you can stay ahead of the curve.

Leave a comment

Your email address will not be published. Required fields are marked *