More and more brands are adopting an approach based on experience to meet consumer expectations and martech platforms give priority to experience in their development strategies. Companies also adopt martech to help manage the complexity of privacy regulations. GDPR and the next CCPA are designed to limit the way companies collect and use consumer data. As GDPR's first anniversary approaches, businesses continue to make the most of their data to customize their customers' experiences in a consistent way.
Bridging the Gap Between Experience and Expectations
Customer Data Platforms (CDPs) such as Lytics, the segment and the SAP customer data segment have penetrated aggressive in the martech sector over the past two years, offering a variety of solutions to import customer data from multiple sources to unify customer records. Data is integrated into the platform, cleaned and organized, giving marketers a better view of their customers. In addition, CDPs allow marketers to externally activate their data by transmitting it to other martech platforms, enabling the delivery of highly personalized, transparent and targeted digital experiences.
According to Ben Jackson, general manager of SAP Customer Data Cloud, we are far from creating the transparent experiences expected by customers. Many companies struggle to manage the amount of data they have and how to use it to create meaningful, experiential campaigns. Add to that the complexities of data management in accordance with laws such as GDPR and CCPA, and digital marketing efforts could be easily disrupted.
In addition to the new laws, Mr. Jackson is convinced that a common challenge that organizations face is an unrecognized disparity.
"There is a gap between the experience that companies think they offer and what customers and consumers actually think of receiving from these organizations," Jackson said. "When we look at the economics of experience, companies will have a hard time competing with products and prices – traditional methods of competition – but they will have to compete with the level of experience. "
Capitalize on regulation to gain competitive advantage
Jackson said organizations should use the GDPR and ACCP to strengthen their competitive advantage and integrate laws as part of Consent should be a standard for organizations, regardless of location, and should allow your customers to control their data Consent management tools and many CDPs support consent mechanisms for clients to control their data.
"The customer has the right to access the accounts, delete them or ask to be forgotten" Jackson said giving customers access to their own data gives them more control over their digital experiences.
The ACCP arrives. Are you ready?
Mana Ionescu, founder and CEO of Lightspan Digital, a digital agency providing strategic advice to her clients, noted the themes of experience-based marketing and implementation of CCPA and of GDPR more often. Ionescu reports a lack of knowledge around these topics and their effects on US companies.
"The lack of understanding of the suppliers' adaptation to new regulations, combined with the coming into force of the CCPA in January 2020, has led companies to tackle these problems," she said. "For example, a Chicago retailer owning an ecommerce store that does not meet the CACP criteria, may not realize that it is affected by the CACP because it is not a business that has a CACP rating. It operates exclusively in Illinois. However, the CCPA also covers California residents who carry out transactions outside the state. "
The approach of the CCAC being imminent – the law will come into force in January 2020 – marketers should conduct discussions in their companies on the ACCP will impact their processes of data collection and how compliance can help to provide customers with better and more transparent digital experiences
About the Author
Jennifer Videtta is the principal editor of Third Door Media, covering topics ranging from email marketing to analytics, to CRM and project management, and with more than ten years of experience in organizational digital marketing, she has overseen digital marketing operations for the NHL franchises and has held positions in technology companies, including Salesforce, advising corporate marketers on maximizing their martech abilities. Jennifer previously hosted the Inbound Marketing Summit and holds a certificate in Digital Marketing Analysis from the MIT Sloan School of Management.