A New World of Marketing and Data Privacy

Can you have personalization, marketing and privacy? Sure can. It’ll take some work, though.

Online privacy has been a growing concern as the internet has become more intertwined with everyday life. Emphasis on online safety has increased, leading to a growing number of privacy initiatives. This includes improved cybersecurity, phasing out third-party cookies and better digital hygiene.

These are all excellent developments for modern consumers. But they also present fresh hurdles for businesses — and the marketing industry, in particular. Marketers must be willing to embrace innovative new ways to succeed in an increasingly privacy-first online world.

Here are a few examples of creative ways digital marketers can reach their target audience while respecting their new levels of privacy.

1. Understand the Difference Between First- and Third-Party Data

The world is phasing out the use of third-party cookies and other data. This restricts a lot of established marketing activity. But it doesn’t mean businesses aren’t allowed to collect data in the first place.

On the contrary, as third-party data goes away, it’s critical that business leaders and marketers understand the new importance of first-party data. Regarding the actual content, third-party and first-party data are the same. However, the way businesses collect that content is the defining difference.

First-party data comes with the explicit permission of its owner. In other words, it is generated when companies request information, such as a name, email, or personal preference, directly from a customer. In that case, the business can continue to use that information to inform its future marketing efforts.

HubSpot points out that many industries, such as non-profit and advocacy organizations, have always leaned on first-party data for their marketing. Seeking marketable information directly from clients who are opting into the experience is an approach that modern marketers should familiarize themselves with if they want to succeed in a privacy-first world.

Related Article: The Future of Personalization and 1st Party Data

2. Emphasize Abandonment Revenue

The safest way to interact with a customer without invading their privacy is by taking advantage of opportunities when they willingly engage with you. In the case of ecommerce, this primarily takes place when a customer is on your website.

When a consumer visits your website, they can browse information, look at products and services and even put these in an online shopping cart. And yet, if they leave your website without making a purchase or other conversion-based decision, it can leave revenue on the table.

Companies can use relevant data to efficiently follow up on browse, product and cart abandonment situations. This optimizes a potential form of revenue that many companies ignore by introducing a sense of personalization within the bounds of customer privacy.

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