2020 is slated to be the year for advanced privacy policies focusing on people-centric identity. Digital marketers need to incorporate a notion of customer-focused identity management into marketing strategies
The importance of focusing on customer identity and data privacy has seen a lot of support from leading brands who confirm running people-based marketing campaigns. The transforming role of third-party cookies has escalated the need for device-based identifiers, making it challenging for publishers to monetize their ad inventory. 2020 will see the development of several solutions to enable publishers and media owners to leverage their first-party data and offer targeting capabilities to brands – even across cookieless inventory.
Data collaboration will be the key factor for publishers to plow back their expenditure on Google and Facebook. An open and collaborative ecosystem is vital to reveal the expenditure of big giants like Amazon, monetizing quality service through more sustainable business models. 2020 will witness an exponential rise in publisher consortia such as the Ozone Project, and identity co-ops like the NetID foundation. Such publisher associations offer the kind of scale in both data and inventory for brands to justify their budgets.
With data privacy regulations and GDPR getting tighter, the pressure on publishers’ business models is increasing. Publishers must consider consent as a vital part of their business model in the future. Consumers have the right to complete control over their data and are aware of how third-parties use it. Despite the increasing pressures, it will act as a catalyst for growing the industry towards consented engagement between marketers and consumers.
People-based marketing needs a transparent, privacy-first solution rooted in user authentication. With GDPR coming into effect over a year and a half ago, the marketing industry is keen to explore it. Still, some people are ignorant about GDPR, as over half of the small businesses are not wholly GDPR compliant. 2020 will witness continued push towards more direct, trusted relationships with audiences, all while endeavoring to meet the rigid privacy regulation and continuance to provide free content based on consumers’ expectations.
Finally, for all firms, giving consumers transparency, notice, and choice regarding their data will be crucial if they are to optimize customer data as an asset. Offering individuals a choice will enable firms to cultivate a more meaningful relationship with their customers, one that is rooted in trust.