One year on from the enactment of the GDPR, rather than the dystopian future we were promised, one where marketers could no longer send emails, engage consumers or deliver personalization, the industry, on the whole has taken it as a jolt to improve transparency.
As marketers were forced to go cold turkey on their third-party data quick fix and the forms on creepy marketing that had eroded consumer trust, rather than signalling the end for personalization marketing, the GDPR had given marketers the opportunity to improve it.
It’s not been all plain sailing of course, Facebook, Google and preferred partners have flouted the new law and been handed some hefty fines, smaller third-party data shops have ceased to exist and consumers have become more discerning than ever when handing over their personal data.
I sat down with Forrester’s Fatemah Khatibloo to discuss how marketers can traverse the personalization and privacy paradox and build more meaningful connections with consumers in a post-GDPR landscape. Check out the video below:
As a result of the numerous much-publicised privacy scandals, coupled with the GDPR, consumers have become ever cautious with their preference insights, however those same are demanding better personalization, bespoke content and laser-focused product recommendations. And this is where GDPR can be a force for good.
“Those who embrace the spirit of GDPR, as opposed to checking boxes to be compliant are seeing really interesting benefits.” – Fatemah Khatibloo, Principal Analyst, Forrester
Marketers embracing the zero-party data economy are rebuilding trust and architecting lasting and meaningful connections with consumers. Zero-party data is a class of data that a consumer intentionally and proactively shares with a brand.
It is data your customer has willingly shared with you, like purchase intentions, and preferences to aid better personalization. Helping marketers to build direct relationships with consumers, and in turn, better personalize their marketing efforts, services, offers and product recommendations with no guesswork.
Putting The Theory Into Practice:
Consumers need to be entertained, engaged and receive something in return for their preference data. And by leveraging the right mechanics, and offering a value exchange, your customers will tell you what products they desire, what they look for in a service, and what motivates them to purchase.
Whether an instant win promo, or product recommendation quiz in a social story to name but a few, these experience types that can live on the largest screen, or the smallest ad placement incorporate incentive mechanics such as coupons, content, or prizes that quickly and easily collect zero-party data. Arming you with the information you need to make the right connections with your customers.
The days of painstakingly interviewing focus groups in person that accrue single digit numbers of product research data points are a thing of the past. Brands can easily incorporate fun and interactive questionnaires that engage huge amounts of consumers and deliver qualitative results into their market research strategy.
Reckitt Benckiser created a microsite, housing a customized questionnaire to help inform its decision-making around future candle and scent product development.
Visitors were asked to fill in a quick questionnaire on product design, and purchase motivations as well as sharing some basic PII data. This efficient and effective online research approach replaced traditionally costly and lengthy research techniques, fuelled product development and loaded the CRM with high-quality zero-party data.
15k zero-party data records collected
The Rise Of The Zero-Party Data Economy
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