The arrival of the internet has completely changed the aura of businesses and how they market their product and services. Nowadays, it’s rather easy for companies to interact with their consumers and offer them personalized facilities.
Other than that, the data collection and sharing abilities that are like a treat with internet technology are not alone. But they also invite a challenge: cybersecurity. Digital interaction between business and consumer often involves sharing of sacred data and sensitive information.
A recent study shows that breach scandal that involves large multinational companies or corporations which have millions of customers. And have a higher risk of getting their personalize and sacred data falling into the wrong hands.
To avoid situations like that, different jurisdictions, such as California and the EU, have passed out strict laws that guide businesses on how to collect, store, use, and secure customer information.
Due to the California consumer privacy act (CCPA) and the general data protection regulation (GDPR) in action, other laws implemented in the same magnitude. The question that stands still in the face of the issue is how much is it going to affect digital marketing tactics?
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Data Regulations in the US
In the US, data protection is primarily regulated by respected industries and empires. An in this regard, the CCPA (California Consumer Privacy Act) has led California to be the first in line. It seeks to protect personal information regarding the citizens of California.
Under this strict speculation, consumers have the right to drop out of having business process information. If a customer allows you to have their personal information, they have the right to question you for it. And ask you what you do with the data and who you cannot share it with.
Data Regulations in the EU
Contrary to US laws, the European Union implemented the GDPR, which standardizes the protection of data rules across all of the European Union states. Each country is obligated to adjust its national data to be identical to GDPR.
With the involvement of GDPR, the business must first ask for the permission of the consumer before processing their information. And the consumers are obligated to confirm their every query through email. This law also applies to businesses that offer goods and services to European Union.
Data Protection, Law, and Online Marketing
Sharing personal and vital information plays an essential part in the success of the digital marketing business. Just by having full information and analyzing consumer data, online marketers can understand what is the higher demand nowadays just by analyzing customers’ behavior.
This also allows them to target the personal and unique preferences of every customer. Thus, allowing them to conduct targeted marketing strategies. A study has shown that by using personalize information, over 80% of marketers can gain a return on investment on market up to 5 times.
Now that the privacy regulations are in action, many multinational digital and even local digital enterprises are concerned that data regulations set to affect marketer’s access. And use of data can greatly affect their marketplace.
However, it may not be true. Even though CCPA and GDPR may differ in some ways, they operated similarly. And both aim to ensure that the personal information of the consumer doesn’t get in the wrong hand.
Even though this seems like a drag and sounds limiting, and companies might think that consumers may decline to have their data processed, a recent study suggests otherwise. It emphasizes that over 60% of Americans would rather receive personalized offers than restrict companies to access their data.
So, the main and basic challenge is not to access their data but to use it well and making sure the authorized parties cannot access it. Following this rule will not even make you relevant but also a very good and respected digital marketer.
Consent to Data Regulations
Just in the beginning of 2019, there were 3,183 breaches reported which led to the exposure of 4.1 billion records. Even though by the end of 2019 and the beginning of 2020. A lot of companies are following the prescribed privacy laws.
Just to ensure that companies dedicate more resources in the direction of consumer data, both CCAP and GDPR have implemented hefty fines on the violations of these laws, to ensure that you comply with the data regulation you must follow.
The CCAP and GDPR expect the data regulations that will follow to give consumers control over their data. So you should put measures to ensure that you only use the information you are allowed to use and you respect the privacy of your consumer, which led to building trust and their confidence.
Running a business is not an easy task. You collect a lot of information from your consumer in which some of it is useful, and a lot of it is pretty unnecessary. But even the unnecessary information can be a liability. To tackle this issue, make sure that you access useful data and delete all the unnecessary data, so it doesn’t create any unwanted situations.
Does Data Privacy Law Seem Like a Threat to Digital Marketing
Digital marketing is the epitome of data. Every bit of it revolves around data collection. But strict policies and laws are hovering around it all the time. It seems that this can be a restriction in the growth of the digital business, but it most certainly is not.
All you need to do from your end is to make sure that the data you are taking is handled well and is secure with you from every bit of the marketing process.
What’s your opinion on privacy laws? Let me know in the comments below!