As we take our first steps into the new year and await the shifts that we are bound to encounter, we must be on the lookout for ways that advanced technologies and privacy concerns are reshaping the way businesses engage with their customers. Experts are anticipating a spike in customer demand for privacy in 2024. So, no matter which industry you're in, this should be will be an important consideration for your business.
What Caused the Increased Demand for Privacy?
It's really not too surprising, if you think about it. Consumers are becoming more and more aware of the tactics that marking companies take to collect their data and target advertising back at them.
Because consumer wants influence companies behavior, it has been causing tech giants like Apple to shift in response. This is why in 2024, we are entering a new era of heightened privacy measures, challenging marketers to adapt and redefine their data collection strategies.
How does this impact your business?
In 2024, look for a change in consumer expectations about the way you use their information. A recent study by Razorfish found that 65.8% of U.S. consumers believe that a company's transparency about its use of personal data builds trust. This underscores the increasing awareness among consumers, who are more mindful of how their data is handled when interacting with companies. Yes, this means your business! It may be beneficial to anticipate this expectation.
Two ways you can adapt:
In this era of heightened awareness, companies with foresight are implementing privacy-centric approaches to build and maintain consumer trust. One of the first steps you t to take is to ensure data is collected with consent and opt-in procedures are used. By clearly communicating what data will be collected and how it will be utilized, companies can demonstrate a dedication to transparency.
As the phasing out of third-party cookies looms, you will also want to prioritize first-party data, or data collected directly from users that have interacted with your brand or organization instead of data gathered by other entities. First-party data not only ensures a more trustworthy information stream but also aligns with the changing privacy standards. It's a strategic move that not only respects user privacy but also positions businesses on the right side of evolving regulations.
What Role Does Artificial Intelligence (AI) Play?
Curious how AI will impact digital privacy?
AI adds another layer of complexity to privacy as it helps to meet the need for personalized content. This means those in the marketing business will have to embrace technologies that safeguard user data as a commitment to user privacy but still find a way to personalize content with the newest technologies. This will likely involve innovative approaches such as personalized marketing based on anonymized and aggregated data.
As with any new year, 2024 marks a pivotal moment for marketers to adapt, innovate, and embrace privacy-centric strategies. By navigating the changing landscape with transparency, consent-driven approaches, and a commitment to safeguarding user data, businesses can not only meet the challenges ahead but also build stronger, more trustworthy relationships with their audience.
The future is privacy-centric, and the journey begins now. Contact us today for support with your next marketing campaign.
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