3radical’s CEO explains how the changing privacy landscape will separate the winners and losers in marketing
Don’t think about regulation as a constraint.
There’s a lot of doom and gloom amongst marketers about how GDPR has made their jobs harder, and the same concerns are emerging in the US, too, with the CCPA arriving in California and other state-specific initiatives likely to follow. But the truth is, legislation just forces us to find better ways of doing things. Customers never much liked being spammed, so it can only be a good thing that it’s the customer who chooses what they do or don’t want to receive from brands. Sure, the percentage of mailable prospects on your database is shrinking, but that’s the same for your competitors, so it’s how you react that matters now.
An opportunity now exists for brands to differentiate themselves by creating personalized customer experiences based on gathering self-reported data in a mutual exchange of value. Consumers today seek an emotional connection with the brands they deal with, and only by creating an ongoing relationship of trust will you be able to get the richness of data you need to create differentiated experiences. Being compliant is just table-stakes.
Forget one-size-fits all digital experiences.
Today it’s about ‘what-size-fits-me?’ and it’s up to you to know the answer. It’s easy to talk about an exchange of value as the key moment where you give something to your customer or prospect, and you get some preference insight data in return. But how? This is where you need some smart technology that can help you optimize everything from the way in which you ask questions (easy, compelling, fun), the timing (available at the exact moment the consumer wants it), and with a very clear reward at the end of the experience. And those mechanics and rewards need to be continually optimized over time to build loyalty and trust. One-off exercises to gather an initial grab of a person’s data might seem valuable at the time, but you’ll be making assumptions. Consumers don’t like assumptions.
Don’t wait for your MarTech provider to get this right
Organizations have made massive investments in marketing platforms and yet there are some areas where they continually fall short. That’s because it’s such a fast-changing landscape that innovation has to be continuous, and a single vendor can’t move fast enough to fill all the holes. Consider how you can integrate ‘best-in-class’ technologies into your martech stack – think of it as a backbone but not the end-to-end solution that answers all your problems.