This year, we saw the rise of three elements of technology-driven outcomes that, I’d suggest, represent a triad of innovation — and those elements are agility, speed, and the product-development capabilities to allow early-adopting brands to actually access emerging marketplaces (such as audio, as we saw this year). The first two terms are interconnected, and each fuels the drive for innovative products that big-name brands are beta-testing already.
Factual, one of many companies in the location intelligence space, emphasizes offline foot traffic and “visitation insights.” Tracking the elusive online-to-offline buying journey is the name of the game, and Factual touts the advantage of a 300-million device observation graph. Factual VP Ocean Fine breaks down her company’s approach to location on our latest podcast.
More than one year after the implementation of GDPR in Europe and with CCPA looming, consumers still have no idea how and why companies like Google and Facebook collect their data. That’s according to a global survey by mobile marketing firm Ogury, the largest of its kind to ask consumers about their understanding of marketing and privacy.
Nearly 40% of respondents in both Europe and the US were ignorant of what GDPR is. But more significant is that 52% of consumers report not understanding how their data is used.
As technological capabilities accelerate and data regulations increase, brands should home in on data privacy. Focusing on data transparency will ensure you stay out of legal trouble while also earning more loyal, trusting customers. Consumers understand that you have data — it’s how you use it and share your practices that can make or break these important relationships.
Although 94% of C-suite leaders consider customers’ data to be of paramount importance, privacy continues to be a hot-button issue. Data privacy practices have come under increased scrutiny with the passing of regulations such as the General Data Protection Regulation, aimed at protecting individuals from the misuse and exploitation of personal information. Even as consumers continue to debate the tradeoff between convenience and control, one thing is clear—they are craving a more intuitive and personalized experience. How, then, can companies reconcile the differences and walk the tightrope as they acquire a 360-degree view of their audience?
Gamification is one path forward.
Personalization has long been touted as the future-proof way for businesses to connect with and retain customers. With Gartner predicting enterprises will win or lose due to customer experience in 2019 and beyond, offering customers meaningful, personalized experiences takes on even greater importance.
To uncover the truth about how personalization efforts are affecting the bottom line of the Global 2000 and just how much one-to-one personalization is taking place, we conducted a survey with Forbes that asked 200 marketing leaders just that.
These questions would be preludes to less abstract ones that will seem more familiar to the creatures of Silicon Valley. Is Facebook responsible if people use WhatsApp and Messenger to spread false news and incite genocide? Is that just the fault of (heinous) people being (heinous) people or should the platforms be held accountable? As for privacy and data collection, what rights do people have to safeguard their information from the communications platforms they use? What does data scraped from Google search or Amazon’s facial recognition technology have to do with our identities? Can data be human?
Just as we have gotten used to the idea that the EU’s General Data Protection Regulation (GDPR) is a fact of life and have made modifications in our data collection procedures, the Brazil General Data Protection Law (LGDP), the California Consumer Privacy Act (CCPA), and waves of proposed new data privacy laws are swirling in the calm preceding a privacy tsunami heading our way. All these privacy regulations share a number of commonalities, and by addressing them now, you will be on high ground as the waves begin to pound.
Five billion would be a record for FTC punishment of a tech company and would signal harsher scrutiny to come for an industry that has accrued unparalleled wealth and power with little regulatory oversight. Facebook’s fine comes after a saga of instances in which it failed to protect user data. Most damningly, the company vowed to shore up its data protection practices in 2011 and can now be accused of failing to uphold that promise.
Changing political headwinds and increased media attention on data collection and privacy are apparently rattling marketers, who named government regulation as an obstacle to data-driven campaigns more than any other single factor. That’s per a survey of U.S. marketers by Winterberry Group and the Interactive Advertising Bureau, eMarketer reported.
While we don’t yet know if any nefarious activity took place as a result of this latest news of Facebook user information’s exposure to third parties, the bottom line, as per the pithy genie line above, is that Facebook handled user data so recklessly for so long that there’s no guarantee the company can prevent exposure going forward. That means, potential regulations for which Mark Zuckerberg is now calling notwithstanding, the end of the Facebook privacy-breach saga is likely not in sight.
Native ad firm AdYouLike is staking its reputation on the assumption that the ads you like may not look like ads. That bet appears to be paying off, as a report from the firm shows the native ad industry set to grow to $400 billion by 2025, a 372% jump from the projected size of the market in 2020.
New research indicates that consumers are actually more aware of how their personal information is being used today than they were last year, with those ages 55 and above showing the greatest level of awareness. These consumers are increasingly willing to share their personally identifiable information with brand marketers—with one caveat. They want a reward for doing it.
SPONSORED, by Neil Sweeney, CEO of Freckle IoT / Killi: The takeaway for 2019 will be consent management. Why is this going to be the trend? Two reasons — the first is because consent management is nonexistent in today’s technology stacks (and, no, the catch-all ‘do you accept’ button will not be sufficient moving forward for consent management). And, second: a compliance/privacy tsunami will bear down on the entire world (not just advertising) in 2019. Every trend in 2019 will tie back to a company’s ability, or inability, to check the box on consent management.
More specifically, what will innovation look like going forward in local marketing and retail? How will it at once address the unignorable concerns about privacy and transparency that have reached a fever pitch of late and stay true to the best of the Silicon Valley spirit, namely, introduce something both new and necessary? How do local innovators move fast without breaking= things? Is that possible?
We at Street Fight want to hear from you, our readers, about the innovation you’re excited about in local in 2019 and your concerns about business practices in the industry in years to come. Drop me a line with your predictions, concerns, and hopes for Local in 2019 at email@example.com.
The U.S. recently joined countries taking action on data privacy with the California Consumer Privacy Act (CCPA), which was signed by Governor Jerry Brown on June 28, 2018. The CCPA will protect the rights of California consumers and encourage stronger privacy online and greater transparency overall.
Customer data platform Simon Data is announcing this morning $20 million in Series B venture funding. Led by Polaris Partners, the round will help Simon grow as it seeks to convince marketers that it offers solutions no other CDP can.