As we inch closer and closer to the obsoletion of the third-party cookie, the need for first-party data collection and analysis and enablement of transparent marketing strategies is paramount. Marketing teams can no longer rely on outsourcing their client data; rather they need to utilize strategies within their marketing efforts to both request customer information, ask and receive permission to utilize that data for marketing purposes and aggregate and store that information in a way that allows it to be utilized.
The fact is that consumers know and have known for some time that marketing teams are actively collecting and leveraging their data for marketing initiatives. That is not the problem. The issue consumers are voicing is their lack of consent and control over the who, what, and where of their personal data. Up until recently, there were no rules or transparency when it came to data collection and utilization which sparked the worldwide discussion of data privacy.
The task marketing teams are facing now is staying ahead of the curve in terms of adapting their marketing strategies to be fully compliant with these new and evolving regulations.
With all of the uncertainty surrounding the future of marketing, one thing remains certain; implementing transparent marketing strategies is imperative to ensuring marketing success.