Change is inevitable and is impacting marketing organizations at a fast pace. Marketers need to navigate the choppy privacy waters, facing big waves made by strict privacy legislation, increased consumer privacy sensitivity and market-shaking actions by Google and Apple to limit cross-site and cross-device tracking. And all this in a world that is becoming completely data driven.
You either undergo the waves or anticipate them.
Marketers are currently facing multiple challenges and threats, driven by privacy (both legislation and consumer concerns), leading to the fast emergence of new solutions to face the threats to their business.
To make this new reality of the ‘New World of Data’ more tangible, Real Story Group, a US based company providing neutral technology vendor research and advice, published following reference framework :
Read the full article HERE.
Massive business impact
Marketers will quickly be confronted with a massive business impact.
- Reduced return on advertising investment, due to the fade out of surgical user-level targeting
- Reduced revenue, because it’s getting harder to acquire new customers, again because of reduced ability to fine tune ad placements and messaging
- Fewer analytical insights: loss of data will impact business decision making, possibly throughout the entire company.
- But also, less quantifiable elements are impacted, like consumer experience and brand trust.
Fueled by five important privacy drivers :
- the imminent disappearance of the third-party cookie
- the consequences of GDPR
- the consumer’s raised privacy awareness
- more consumer control over data shared with apps
- the threat of data breaches
As you can see in the Reference Framework mentioned above, RSG groups the emerging responses into 3 clusters:
- Ad networks & Publishers
- Data Acquisition
- Owned & Operated
Two of them are directly in the hands and scope of the advertisers and marketers, and can be supported with the right technology and the right service partner. At Black Tiger Belgium, we believe in ethical data.
Collecting, managing and deploying your owned, first (and zero) party data in a qualitative, compliant and ethical way is key to becoming a future proof business. Onboarding your own prospects and targeting your consumers in media will allow you to continue to reach your target groups in an effective and relevant way, in full respect of the individual consumer.
Owning your data is the road to successful data sharing partnerships, as someone’s first party data could be your second party data.
We agree that this is challenging, but with the help of the right technology and service partner to support you in this journey, you can turn these challenges into future-proof, tailor-made opportunities that will match your specific business needs.
From awareness to competitive advantage
Black Tiger Belgium offers innovative solutions that covers a lot of the described challenges in the European market. We think it’s important to share this knowledge, to raise awareness and make sure marketeers are ready to face these challenges. We want them to keep doing profitable, ethical business that will help them gain a competitive advantage in their industry.