Happy Data Privacy Day, marketers! If you’re thinking “What’s that?” and “Why should I care?” … stick with me for a minute. Data Privacy Day occurs annually on January 28, with the aim of raising awareness on the importance of data privacy and of the data privacy rights that consumers have. For marketers, Data Privacy Day is a great opportunity to revisit your role as data stewards.
We’ve written for years that B2C marketers need to get involved in their organization’s privacy programs, whether that’s to better equip themselves to navigate vendors’ claims about consent and compliance; reduce the risk of inappropriately sharing customer data with partners like Facebook; stay up to date on a quickly changing regulatory landscape; or track changing consumer behaviors and expectations. Unfortunately, the reality is that collaboration between marketing and privacy is still lagging. Consider that:
- Only 15% of privacy decision-makers said their privacy team collaborates with marketing often.
- Only 5% of privacy decision-makers say marketing is presented in their organization’s privacy team.
Changes in the privacy landscape have a big impact on marketing. Decisions by regulators, big tech firms, and consumers themselves are impacting the way marketers can access and share data while adding risks to existing data sets, such as location data. And companies that demonstrate to consumers that they take privacy seriously and respect consumers’ privacy rights have a better chance of earning their trust. Trust is a business imperative — it is foundational to engendering customer loyalty and satisfaction.
2023 is going to be (another) busy year for privacy, with five US state privacy laws going into effect and more bills coming through state legislatures. And European regulators got off to a fast start, fining Meta for its behavioral advertising business practices earlier this month. The privacy headlines are coming fast and furious, such as a recent class action lawsuit against Chick-fil-A, but for marketers, the path forward is the same one we’ve been pushing for years. Collaborate with your privacy team and build data deprecation strategies that center on transparency and consent. The shifts in the privacy landscape show no sign of slowing down, so it’s a critical time for marketers to get involved in their organizations’ privacy programs. And stay tuned for upcoming research on how marketing and security & risk pros can work together to protect customers and the brand.