Consumers of today are aware. They are getting more mindful about data collection in the online browsing sphere. In fact, a recent survey revealed that 97 percent of consumers are somewhat concerned about how companies use their private data. 8 out of 10 customers reported that they’re willing to abandon a brand if their data is used without their knowledge.
It comes as no surprise, that today in this digital world, privacy is everything.
With changing regulations regarding the collection and managing of consumer data, what can marketers do to meet rising consumer expectations regarding data privacy?
The Changing Landscape In Consumer Privacy
The data protection and privacy environment have gone through major reviews and changes in the past 2 years. With marketing being all about data and the utilisation of it, data privacy changes would definitely affect how marketers operate and manage campaigns.
According to recent research by Gartner, almost one out of five marketers report privacy compliance as their main concern across marketing channels. Today, 73 percent of marketers fear that privacy concerns will negatively impact their analytics efforts.
Mass marketing approach with subpar digital strategies will cease to work. Opt-in will be compulsory, which means that the content we create for marketing has to prove more value, and authenticity to win our audience’s interest and trust, cutting through the clutter, more than ever.
Businesses have to understand that this shift is permanent and necessary, with consumers getting more empowered and knowledgeable.
No longer will businesses be able to solve problems with money, buying databases offhand, purchasing lists and contact information from organisations with contacts they wish to target.
What does that mean for us?
Well, we see a new era of building brand authenticity and the shift to applying modern market principles to drive growth instead of relying on traditional ways of data collecting.
Digital Marketing Data Privacy In Singapore
Personal Data Protection Act (PDPA)
The PDPA is a law that requires companies in Singapore to obtain the consent of users before they collect, use or share their personal data. The amended PDPA introduces, amongst others, a mandatory notification requirement for data breaches and new grounds for processing data without consent.
With digitalisation, governments globally have begun imposing newer and stricter regulations on electronic communications and stored data.
Spam Control Act (SCA)
When marketing your brand online, you need to observe the regulations in advertising that any branding, quote, or statement is not false or misleading.
How To Drive Marketing Growth While Respecting Data Privacy
Gather data with integrity
No one likes the idea of having their data being collected and used for, especially without consent. Always ask for the consumer’s consent before collecting their data.
Cloud-based solutions are increasingly being used by marketers to manage data while protecting user privacy. That’s because cloud technology offers inherent privacy and security advantages when it comes to storing and organizing large data sets, such as encrypting all data by default and setting parameters for who has access to that data.
Start combining modern techniques that are effective, transparent and privacy compliant
In this new era of privacy laws, integrated brand metrics are needed to work together to produce data for content effectiveness, positioning and market performance.
Although data privacy concerns are making it difficult for marketers to get a granular view of their data, it’s not impossible with the right attribution models. Modern businesses need a new analytics strategy that can still leverage data and lose access to relevant insights.
Let’s take browser restrictions, for example.
You can still get reliable reporting through Google’s conversion tracking for your advertising campaigns, even when direct conversion measurement isn’t possible. If a cookie isn’t present for you to be able to attribute a conversion that happened as the result of a user interacting with an ad on a particular browser, analyse patterns from past conversion data. Cross-reference it with the performance of your ads on other browsers, where direct tracking is possible.
A model can be created to confidently predict how people will respond to your ads when direct measurement is blocked. That way, you can still report on conversion activity in a privacy-centric way when cookies have been blocked.
Singaporeans are generally distrusting towards online advertisements with the rising number of scams and distrustful businesses that dominate the e-Commerce world.
It’s your responsibility to build trust and customer relations with them from scratch. Trust the very foundation of any business. With new data regulations, businesses have to take their brand positioning more seriously than ever.
This is nothing new but re-emphasised- create quality content and be consistent.
It will take time before you can gain the full trust of your audience.
Build a marketing funnel and grow your leads organically, this way you have loyal audiences that are yours to nurture and keep for a long time to come.
Beware of Hackers
The risk of hackers and viruses invading your cyber-security can be the unfortunate cause of your business’s downfall. A loss and leak of data can result in your brand’s name tarnished overnight.
Never let your guard down when it comes to enhancing your security with advanced software and other tools. Do not skim on the investment of quality software that can help decrease the risk of theft and invasion of privacy.
Find options to engage your audience when personalization is limited
Marketers want to deliver the most appropriate message possible when they connect with audiences. For instance, when users are open to seeing personalized ads, you can tailor your ad for the audience. But when you cannot personalize ads for users, because they haven’t consented or cookies are blocked, pay attention to the context of the ad instead, such as the content on the web page or site where the ad will appear.
As the pandemic pushes more online activity globally, data privacy regulations have taken on new urgency all around the world. Companies need to invest time in solutions that are agile and capable of keeping pace with evolving regulations to thrive in the new era of consumer data protection.
Today, customers are only interested in transacting with a company that they believe will protect their privacy.
Respecting user privacy doesn’t have to come at the cost of business results. Let us help you realise that the tools and resources available to marketers of today can create new growth opportunities while still being able to engage and nurture relationships with customers while abiding the law.
Click on the banner below for more advice on PDPA regulations and how to ensure your marketing ROI can still increase while privacy will remain unspoiled. At iFoundries, we believe successful marketers are ones who can adapt the quickest.