In the rapidly evolving digital landscape, marketing and media stakeholders face increasing pressure to not only deliver impactful campaigns but also to ensure that these initiatives comply with stringent data privacy regulations. A privacy-centric data strategy is not just a regulatory requirement; it is a strategic asset that can significantly enhance the effectiveness and trustworthiness of marketing efforts. Working with hundreds of enterprise organizations and large marketing and media teams, we have seen first hand the challenges the current ecosystem presents, but also the value of a strong data strategy.
Changing Times Call for New Strategies
Wherever there is a challenge, there is an opportunity. The marketing landscape is becoming increasingly complex due to broader industry changes. The rise of artificial intelligence and machine learning (AI/ML) has elevated the sophistication required in marketing strategies, making advanced technology a basic necessity. At the same time, the decline of third-party cookies and stricter consumer privacy laws are limiting the available data for targeting and decision-making. This has been compounded by research indicating that user journeys are becoming longer and more intricate, complicating the assessment of how individual channels and tactics influence outcomes. A conundrum for today’s marketers! We see this with our clients often, but we don’t worry. Building a data strategy that is focused on privacy and can last is still possible, and it can help organizations win in this changing environment.
The key approach to responding to these challenges is for marketers to maintain clean, consistent, and compliant data. Such data is essential for training robust ML models that can effectively optimize marketing channels, campaigns, and creative elements, ensuring that marketing efforts remain effective in this new environment.
Enhancing Campaign Performance Through Durable Data Collection to Enable Targeting and Personalization
Marketing and media stakeholders rely heavily on data to understand the impact of their campaigns. However, with all the changes in the ecosystem and considerations for how to leverage data to maximize performance, it can be challenging for marketers to understand where to invest their time, energy, and resources effectively.
A privacy-centric data strategy enables them to leverage this data effectively, ensuring that it is clean, compliant, and actionable. This is crucial for targeting and personalization, which are key to improving campaign performance. By using data responsibly and ethically, stakeholders can create more personalized, engaging content that resonates with their audience, thereby increasing conversion rates and ROI.
Why Partner with InfoTrust to Craft Your Data Strategy
InfoTrust specializes in providing data strategy that is tailored to the unique needs of marketing and media stakeholders, while considering the most durable and future-proof approach, considering end consumers privacy and choice preferences, as well as compliant technology and privacy principles. By partnering with InfoTrust, stakeholders can benefit from expert guidance on how to structure their data strategies to be both effective and adhere to market regulatory requirements. InfoTrust helps organizations navigate the complex landscape of data privacy, offering solutions that optimize their martech stack, integrate data sources, and ensure that all marketing activities are aligned with current privacy laws.
Specifically, InfoTrust seeks to help organizations answer these key questions from our approach to building a data strategy:
- Data and Measurement: Are you collecting the required data to make the necessary decisions to deliver value for your business?
- Martech Readiness: Is your martech stack ready to deliver on what your organization needs in a durable manner? Will the technologies enable AI capabilities and value?
- Compliance and Risk: Is your business at risk with existing and upcoming privacy legislation and internal governance while still enabled to meet marketing objectives?
- First-Party Data Modeling and Activation: What opportunities exist to leverage your first-party data to measure and improve digital marketing impact?
Building Trust with Consumers
In today’s market, consumer trust is paramount. Customers are more likely to engage with brands that they trust to handle their personal information responsibly. A privacy-centric data strategy helps in maintaining this trust by ensuring compliance with governance and privacy regulations. This not only mitigates the risk of legal consequences but also strengthens the brand’s reputation, making it more attractive to privacy-conscious consumers.
A privacy-centric data strategy is essential for marketing and media stakeholders who wish to not only comply with privacy laws but also to leverage data in a way that enhances campaign performance and builds consumer trust.
