The test of a good business case is that it is backed by a lot of good data but can be easily summarized: Privacy creates trust. Trust builds loyalty. Loyal customers drive growth.
If the current upheaval in the market signals anything, it is that the relationship you have with your customers must be cherished, cultivated, and mutually beneficial in order to be monetized effectively. As the user acquisition game becomes more challenging, businesses must invest in personalization and engagement in order to improve retention, activation, and conversion metrics. This means doubling down on your mobile app strategy and centering it on transparency, on-device targeting, and trust.
When marketers store and analyze location data on the device, they reap the benefits of location-based marketing without running afoul of privacy standards. They are able to marry real-world insights with other types of data such as app behavior and online interactions while keeping all the consumer’s data on their phone.
There is an endgame that can put a stop to drip-drip privacy changes. A reality in which large corporations go back to not knowing the intimate details of their consumers’ lives and are still able to use technology to provide better user experiences through hyper-personalized engagement. A reality in which consumers can enjoy personalized experiences at exactly the right moment without broadcasting their location to anyone. A reality in which it is technology, not fine print, that protects both consumers and corporations.