The future of Digital Marketing in a Data- Privacy World
In the quest to identify potential customers and their preferences, companies have gathered data to help them execute this plan. However, business people in Europe encounter difficulties while using data collection methods (O’Reilly, 2018). As a result, there was a formation of a corporate marketing department to device appropriate strategies to counter these problems. The marketing department was to address the changes in the Data Protection Regulation, which placed the consumer as the leader in matters concerning guarding their private information.
Companies across the world must seek permission from European citizens before gathering personal information. They are required to collect only the relevant data purposed to perform a particular task; also, there are limits on how to use the information (O’Reilly, 2018). Additionally, the companies should delete the data once they use it or when the owner asks them to do so.
Besides, rules for a third party are even more difficult. Several marketers do not look for the data themselves instead utilize information collected by other marketers to help them create target ads. In this case, they must ensure that those vendors agree with GDPR terms and conditions. Consequently, keeping track of all those third parties requires much effort and a lot of capital; hence many marketers opt to use fewer vendors.
Facebook Cambridge Analytica data explored the challenges associated with keeping a record of customer’s data, especially when sharing the documents between an outsider and other firms. Facebook initiated strategies to safeguard people’s privacy following a leak outcry. Some of the plans include stopping the broker’s activities who target particular groups of Facebook users on behalf of their client’s advertiser (O’Reilly, 2018). In partnership with GDPR, the changes negatively affected several advertisers, for example, consumer-product companies that lack a considerable number of first-party data about their consumers and thus depend on third-party data companies.
The technology revolution in the marketing field has enhanced the advertising of products and services. Companies find it much easier to interact with customers and provide them personalized products on offer. Through this, the company can improve its performance as well as improve the customer’s shopping experience. However, there are challenges associated with data collection and sharing of consumer’s information that accompany internet technology.
Notably, data sharing with large firms can make the data run into undesirable hands. As a result, different jurisdictions have enacted laws that give a guideline on how businesses to store, collect, secure, and use customer information. The rules allow the customers to withdraw their information; thus, the company cannot process it. If the customer enables the business to use their data, they can decide how to use the information and how it is shared. The aim is to ensure that the customer personal information is protected by giving them a platform where they can check on their data. For the companies, failure to with the set rules and regulations attracts a penalty for intentional violation.