If brands focus just on complying with data regulations and regard them as a burden to their business, they are missing an opportunity, an industry professional believes.
“We’re in the midst of a complete shift of attitude,” according to Gabe Morazan, Director of Product and Digital Governance at Crownpeak, who argues that while the specifics of privacy regulations may not be widely understood by consumers, the knowledge that they have rights – particularly for European residents – is now part of daily life online.
Huge fines for household names such as British Airways and Marriott International are also making headlines and increasing consumer awareness of how their details are being used online, both with and without consent.
But, he says, there are “more enlightened brands that realise privacy can actually become an integral part of the digital experience and enable the customer-centric approach they’ve been aiming for”. (For more details, read the full article: Data regulation drives the digital experience opportunity.)
That’s likely to become more evident as the data landscape continues to evolve with the introduction of new global regulations and the emergence of new technologies that change the way data is harvested.
One consequence is that brands and publishers reliant on personal data will need to invest in higher-quality content and more transparent ways to gain the trust of consumers in order to earn the right to process their personal data.
Ultimately, Morazon says, “the brands that recognise the relationship between privacy and digital experience, and that take the right steps to act beyond basic compliance, will be able to differentiate, build trust, and increase customer lifetime value”.
Sourced from WARC