Becoming a privacy-first company - 5: Wrap it up
Congratulations on making it to the last episode of our series about how to become a privacy-first company! While there is a ton more to say about the hows and whys of becoming a privacy-first company, we’ve covered the key points over the course of past episodes. … what’s that? You don’t remember? And you deleted our precious work from your inbox? Well, guess you’re lucky we prepared a handy little recap!
5 takeaways for privacy-first marketeers
1. It's the law
Sure, you could choose to ignore our advice. But we’re not bailing you out. Compliance with privacy legislation – GDPR, CCPA and new kids on the block DMA and DSA – should be a priority for any business. But don’t just do it to avoid legal issues... By complying with these regulations, you’re building trust with your customers as well.
2. Treat privacy as a strategic asset
Customers are increasingly concerned about their privacy and are more likely to do business with companies that take it seriously. That’s why implementing robust privacy measures can be a competitive advantage, leading to increased customer loyalty and sales.
A couple of strategic questions to ask
- How does respecting our customers’ privacy align with our company values?
- Do we really need to approach customers in a personalised way? Does it add any value for the customer?
- How much does our digital marketing and sales depend on Facebook and Google ads – and what’s our contingency plan when users switch to another platform?
3. Ask for consent
Consent management is a critical component of a privacy-first company. Make sure you have the necessary tools – i.e., consent management software – in place to obtain explicit consent from your users before collecting, processing, or sharing their personal data. Also, stay away from those pesky dark patterns. No one likes those. Users should be able to control their data and revoke their consent at any time.
4. Won't someone think of the customers?!
Yes, yes, your customers are king and always right and all that jazz. But when it comes to privacy, we often forget to take their perspective as well. Make sure you understand their concerns and find ways to build privacy protection into every aspect of the customer experience. This means you need to communicate clear privacy policies and explain how their data is collected, processed, and shared.
5. Embrace the modern data stack
Making all of this happen isn’t rocket science, but it does require some technology to collect, process, and analyse data while maintaining privacy and security. The number of available tools, however, can be quite overwhelming. Having a partner like MultiMinds by your side to help decide what your unique situation requires and how you can make the most of your investment, is a great idea.
Identify the limitations of your current marketing tech stack, and figure out what you need.
"To survive on the privacy-conscious internet, businesses must continue to offer personalised experiences without relying on third-party data. The key? Establishing strong, trust-based relationships with customers – backed by a solid data strategy and technology stack." - Nicolas Lierman, Head of Innovation and Acceleration at MultiMinds
Your move
Well, that's all we have to say about that – for now.
- If you’re ready to start taking privacy seriously in your organisation, our expert team is ready to set you up for success. Reach out anytime with any questions or concern you may have.
- Do you need some help completing any of your homework assignments? Or do you need any clarification on a specific part? Please don't hesitate to reach out to us. We are eager to assist you and your company in meeting your unique requirements.
- If you want more in-depth information, we regularly organise webinars and other events and have lots of content available. Want it all in one neat package? Make sure you’re subscribed to our monthly Now You Know newsletter or follow us on LinkedIn.