The era of data privacy has arrived, and believe it or not, it can significantly impact your company’s marketing strategy. Consumers are becoming increasingly aware of the information they share online and are concerned about how companies use their data—80% of people say that they are very worried about their online privacy these days.
On the other hand, in Brazil, 60% of digital advertising leaders are also concerned and fear that the end of third-party cookies will affect the efficiency and measurement capabilities of their campaigns.
This is because, without data, brands cannot segment their audience or personalize their ads, content, and campaigns—key elements in crafting a good marketing strategy.
Now, companies must find a balance between data privacy and the ability to personalize campaigns to continue offering good experiences while respecting user privacy.
Want to learn how this new era will influence your marketing approaches and, more importantly, how your brand can position itself to make the most of this change? Keep reading.
Will My Marketing Strategy Be Affected?
With consumers paying more attention to the privacy of their personal data and the implementation of stricter regulations like the General Data Protection Regulation (GDPR) in Europe and the Lei Geral de Proteção de Dados Pessoais (LGPD) in Brazil, yes, it probably will. These regulations impose restrictions on the use and collection of personal data, which can limit the ability to segment and personalize campaigns.
More ethical, secure, and transparent practices must be considered to ensure compliance with these laws.
But How Do You Do This?
It’s the perfect time to adopt a new model of relationship with consumers, focusing on their data privacy!
Why not start with these…
4 Steps to Build a New Relationship Model
To align your marketing strategies with data privacy standards, you need to:
Step 1. Make Privacy a Core Value of Your Brand
If companies of all sizes and sectors are rushing to comply with new personal data usage rules, your brand should also prioritize privacy to respect each customer’s individuality. To do this:
- Promote discussions about privacy;
- Genuinely care about this issue;
- Align the entire company with this mindset;
- Be a “privacy-first” company (putting customer data privacy first in all operations and business practices).
Step 2. Improve Security from the Inside Out
- Investing in data privacy training for your teams is the second essential step to adapting to this new era.
- Ensure employees understand their legal obligations;
- Educate teams on handling sensitive customer information;
- Keep teams aware of the risks and how to avoid privacy breaches.
Step 3. Adopt New Technologies
Using technology as a partner is a great approach. After all, we are witnessing the advancement of AI tools and other innovations revolutionizing the market and benefiting companies.
- Adopt technologies to maintain your brand’s level of personalization;
- Find tech solutions that can help your business measure results;
- Identify which technologies can help your company maintain security levels.
Step 4. Be More Transparent with Your Customers
No matter how much your company invests in privacy, it is crucial that customers know how your brand handles this issue. Therefore:
- Communicate changes to your audience;
- Send reminders about data collection;
- Clearly and objectively offer the option to configure privacy settings.
But…
What Happens if My Company Doesn’t Make the Necessary Changes?
Failing to comply with data protection regulations can have serious consequences. Severe fines may be imposed, along with the risk of data processing suspension, a damaged reputation , and even facing a partial or total business activity suspension.
Beyond bureaucratic issues, neglecting data privacy can result in losing public trust and financial losses for the company. Therefore, compliance is undoubtedly the best path.
By demonstrating your commitment to protecting personal data, you not only avoid legal risks but also strengthen your brand’s reputation and increase customer loyalty.
So…
Marketing Strategies Have Everything to Do with Data Privacy
Data is crucial for creating effective marketing strategies. Without it, you can’t analyze metrics to understand your audience, determine which regions engage most with your business, or identify the channels through which users follow your brand.
At the same time, data privacy is important to consumers. Therefore, the more transparent, concerned, and responsible your company is, the greater the chances of gaining user trust and encouraging them to share personal data with your business.
Start transforming your marketing strategies today. And if you need a little help, you can count on our team. Get in touch!