Editor's note: Dawn Paul is content marketing manager at Adtaxi.
The data privacy movement is disrupting digital marketing worldwide. But disruption leads to innovation. With the right tactics, privacy is an opportunity for competitive advantage.
Throughout the history of digital advertising, there have been many important changes that caused concern for how brands do business. In the end, marketers have learned to adapt to this fluid environment and in most cases have ended up better off than before. Data privacy is proving to be no different. While being driven by consumer apprehension on how personal information is being collected, stored and used, it’s causing marketers to rethink how they can be smarter in their approach and improve users’ online experience to encourage long-term relationships.
Some players in big tech have acknowledged their responsibility for digital privacy and already implemented changes. Google’s plan to phase out the third-party cookie, now projected for the end of 2023, is one huge step. Apple also recently implemented an opt-in system for data collection on the App Store, putting the decision-making power back into consumers’ hands and forcing more transparency from the apps themselves.
The way marketers strategize is changing but what many don’t realize is this actually could be good for business.
Despite wariness on personal information being used for online marketing purposes, consumers are recognizing the benefits of sharing some information with businesses they value and trust. In Adtaxi’s 2021 privacy study, 44% of U.S. respondents said their online experience is better because apps and websites collect their data and 45% said they generally give permission to collect their personal information when asked. Preferences are clearly moving toward informed choice and control, rather than a blanket ban on all data collection.
This is where the pr...