An inside look:
While striving to deliver personalized marketing, brands have relied on sharing Personal Data, or Personally Identifiable Information (PII). If brands join data collaboration partnerships to share PII across their networks, then they can greatly improve performance.
Undeniably, recognizing customers and serving their needs and preferences better than the competition is smart business. In fact, consumers who experienced greater personalization were 110% more likely to buy items than planned and 40% more likely to spend more than planned, according to a study by Boston Consulting Group.
However, we’re not protecting customers’ Personal Data when we unnecessarily expose them to identity theft and loss of privacy. That’s not good for consumers or brands.
As a result, consumer privacy advocates and regulators have stepped in to enforce consumer data protections. But with each new regulation, the definition of Personal Data grows. This evolution places added pressure on brands to update their way of doing business. They must comply with regulations like GDPR and CCPA, or face fines for putting customers’ Personal Data at risk.
Fortunately, there’s a new and better way to comply with data privacy laws, honor consumers’ right to privacy, and improve marketing performance. Read this whitepaper to learn how you can match, acquire, and test data without sharing PII, and meet the new standard for Personal Data protection.