How to do digital marketing in the age of privacy? – Economic Times

Data is a crucial component of digital marketing. However, as privacy rules become more stringent, the necessity to adapt to new methods of data collection and management becomes more essential. Even if one posts frequently and makes interesting social efforts, it can be difficult to break through the clutter and get recognized by consumers. In this era of privacy, brands are discovering themselves in highly unpredictable business settings. As has already been demonstrated, actions made today will define the path to the future of digital marketing and ensure long-term success.

Here are some trends that will have an impact on the digital marketing landscape in the present and future.

Digital Marketing’s Changing Environment
The Advertising Standards Council of India, a self-regulatory voluntary organization, controls the advertising sector in India. ASCI issued the “Code for Self-Regulation” in the hope of gaining acceptance of fair advertising methods that benefit the end customer. The ASCI code applies to advertisements distributed and/or published in India, regardless of media or location of origin, as long as Indian customers are the intended audience.

Prior to this, marketers used to rely largely on third-party cookies to provide highly tailored advertisements. They were able to obtain confidential data about consumers and re-target advertisements based on very detailed information using numerous web browsers. Using these tactics resulted in serious challenges related to privacy and public distrust.

Nevertheless, the digital marketing landscape is changing course. This new era emphasizes on consumer privacy protection through less intrusive advertising strategies. Although third-party cookies provided marketers with an easy means to track customer data, the future of digital marketing appears to be far more imaginative. In this day and age, the e-commerce industry must instead learn about its customers through relationship-building strategies. To effect this change, all search engine algorithms are following suit.

When the cookies finally shatter, digital marketers will have a plethora of new tools and techniques at their disposal. According to Statista, India’s advertising reach in February 2022 was around 467 million.

The privacy of consumer data will redefine digital marketing.
Consumer data privacy is a major worry for authorities and consumers alike, as more people rely on internet services and platforms to perform daily tasks. India’s data privacy laws are rapidly changing. It is projected to explore harsher measures to data regulations in 2022 and beyond. These data protection advancements are already causing a significant movement, across the advertising platforms, toward the development of consent-based solutions.

Meanwhile, social platforms will strive to bolster their position using first-party data, while the majority of the open web will increasingly rely on contextually driven targeted solutions.

With the increased

on first-party data, media measurement and activation teams will need to hire more data compliance specialists and data scientists to ensure data safety, quality, and actionability. Data security, the renewal of measurement and targeting methodologies, and the adoption of a “watch-and-innovate” mindset will become increasingly critical after 2022.

Ecommerce will alter how brands manage their data

Many digital habits learned in recent months will endure in 2022 and beyond, including e-commerce – which has witnessed the most profound change, with over half of all digital consumers in India now buying online. The fragmentation of media investments across online platforms and markets has resulted in greater data and organizational silos, posing issues in effectively monitoring and optimizing digital marketing spending.

Brands will reorganize to merge digital media and e-commerce teams, as well as rethink their data architecture to accommodate growing investment in new e-commerce platforms.

The future will be defined by a unified customer view.

As India’s online user behavior and digital commerce continue to evolve, marketing efforts have spread across multiple platforms, resulting in data silos that impede digital marketers from obtaining a holistic picture of clients and their purchasing journeys.

The customer data platform (CDP) offers to reconcile first-party data from all channels in a privacy-compliant way. By capturing data from numerous systems, correlating information relevant to the same consumer, and storing the information to follow consumer behavior over time, the CDP creates a more complete image of each client. It comprises personal identifiers that are used to personalize marketing communications and track individual-level marketing success.

As a result, before deciding to purchase a CDP, marketers must first establish whether they have access to a large volume of individual-level data in order to discover how to reach a higher level of data granularity. Marketers should also assess whether they have the requisite in-house expertise to deploy a CDP, such as an IT team or a knowledgeable marketing technologist.

Brand engagement is changing, thanks to digital analytics.
Digital marketing analytics technology has a promising future. New and better technology will usher in a new era of digital analytics. More in-depth marketing analytics and e-commerce data will be welcomed by digital marketers, allowing them to construct enriched multiscreen and multi-device consumer journeys. Going further, it is projected to experience cross-platform material improvements; it will be more flexible and efficient; it will be more visual; and it will have sophisticated machine learning capabilities that will automatically expose insights, anomalies, and forecasts. According to Statista, the average ad spending per person in the digital media advertising market in India is expected to reach 93.05 by the end of 2022. Furthermore, Statista predicts that smartphones will account for 85 percent of global ad spending in 2026.

A new era in digital marketing is on the horizon, propelled by developing data privacy, emerging consumer habits, and technological solutions that will assist the modern marketer in crafting privacy-safe, improved customer experiences – all powered by data. Securing compliant data, developing new media measurement and activation methodologies, and maintaining a ‘watch-and-innovate’ approach in the face of regulatory and platform privacy changes, will be critical to success in 2022 and beyond. The future would entail maximizing the potential of these advanced analytics to provide digital marketers with more user-centric insights and a much deeper understanding of individual consumer experiences.


(The writer is CEO, Big Trunk Communications.)

from Digital Marketing – My Blog https://www.techyrack.com/syndication/2022/08/05/how-to-do-digital-marketing-in-the-age-of-privacy-economic-times/
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