Consumer sentiment around marketing data collection varies. It’s therefore imperative for businesses that deal with customer data to do so with the utmost respect, caution, and strict adherence to their consumers’ preferences and in compliance with privacy laws.
New research provides evidence we’re entering the Great Privacy Awakening. In the absence of a federal law, consumers are taking action: From using ad-blockers, and deleting their browser history to using their privacy rights and requesting their data be deleted.
The combination of brands being held accountable for violating consumer privacy laws, the roster of new – and varying – US privacy laws set to take place in 2023, and consumers themselves increasingly opting out of sharing their personal data is amounting to something of a rising tide in terms of consumer privacy.
Despite the cookie banners (and the cryptic explanations for how data is used), more than half of respondents in a consumer privacy study say there’s no transparency into data practices, and 64% say they believe that they have no control.
The legal battle between Facebook-owned WhatsApp and the Indian government is a bit of a high-stakes game of chess determining both global consumer privacy and the sovereignty of tech companies to build such privacy on their own platforms.
With an increase in legislation, the privacy landscape is a moving target for brands. Businesses are diverting precious resources away from improving personalization relevance to maintaining global privacy compliance. The two shouldn’t be working against each other.
Privacy is no longer a “nice to have.” And today’s focus on the ethics around privacy is much more than a cultural moment, it’s a moment for businesses to grasp and use to lead.
People are increasingly aware of consumer privacy issues, but also overwhelmingly feel that they do not have the tools to protect themselves and look to government to intervene.
Product developers always face the challenge of creating a pleasing user experience without increasing legal risk, how can companies find a balance between them?
Thoughtful regulatory framework combined with industry led initiatives will give consumers transparency and control, while enabling businesses to bring new products and services to market without excessive fear around unclear or overbearing regulations.