At AB Tasty, we think, breathe, eat, drink, and sleep experimentation – all in the name of improving digital experiences. Over the coming months, we’re going to peel back a layer to take a closer look at what’s under the hood of experimentation: the data. Data drives the experimentation cycle – all of the ideation, hypotheses, statistical management, and test-result analysis. It’s no secret that today’s world runs on data, and the development of your digital experience should be no different.
Customers today – whether speaking of a business buyer or an everyday consumer – prioritize experience over other aspects of a brand. Over the coming months, we’ll be talking with some of our partners and data experts at AB Tasty to explore how brands can use data to better profile customers, understand their needs, and forge valuable emotional connections with them, as well as to measure overall digital impact and build a data-based, customer-centric vision.
Before we jump right in, let’s take a moment to center our discussions of data within a privacy-conscious scope.
Every marketer knows that nothing is more precious than customer data, but acquiring it has become increasingly thorny. Europe’s far-reaching General Data Protection Regulation (GDPR), enforced in 2018, was a game-changer, requiring companies to get consent before collecting personal data. The California Consumer Privacy Act (CCPA) soon followed, giving consumers the right, among other things, to opt-out from the sale of their data.
Even if you think your business isn’t subject to such regulations, you might need to consider compliance anyway. E-commerce has erased national borders, allowing goods and services to be purchased with little regard for their origin. The globalization of brands means that an influencer in Pennsylvania who posts about your products could drive Parisian customers to your site, and suddenly you’re collecting data subject to GDPR guidelines – which require customer consent for use.
Leveraging the right customer data
Understanding your customers and their needs and changing behaviors is key to delivering timely, relevant messages that boost loyalty and drive revenue. Whether your company sells yoga mats, yams, or yacht insurance, you need data to enhance their experience with you and strengthen your relationship with them.
But how can you leverage the data you need while ensuring your customers continue to trust you? In recent years, consumers have grown skeptical of handing over their personal data. According to a 2021 survey by KMPG, 86% of consumers questioned said they feel a growing concern about data privacy. And they should be: the same survey showed that 62% of business leaders felt that their companies should do more to protect customer data.
Thanks to the well-deserved death of third-party cookies, marketers are now seeking the data they need by forging consent-driven first-party relationships with their audiences. While this is a step in the right direction, data privacy needs to go further.
Enhancing brand value through consent- and privacy-oriented processes
Consumers are more likely to buy from companies with transparent privacy practices that clearly explain how personal data is collected, used, and stored. Giving or withholding consent for the use of their data should be effortless, and if requested, customers should know that brands will not only delete all the data they’ve stored, but also remove any access privileges they may have granted to partners or third parties.
By making consent and preferences easily manageable, a multitude of data can be shared at every customer touchpoint, revealing customer behaviors, preferences, attitudes, and values. To deal with this omnichannel data, a Consent Management Platform (CMP) can help you collect and handle personal information in a privacy-first way. A CMP enables you to maintain consent logs across all customer-facing channels, ensuring that the personal data processing is always in line with the data subject’s preferences, adding an ethical dimension to the customer experience.
Ethical handling of customer data is mission-critical if brands are to succeed today. From big tech to retail, companies of every stripe are taking an ethical and privacy-centered approach to data, because, as an article in the Harvard Business Review aptly put it, “Privacy is to the digital age what product safety was to the Industrial Age.”
Customer data can help you deliver relevant, personalized, and innovative experiences.
It can build your brand by generating new leads, predicting sales and marketing trends, and enabling you to create the personalized messages that customers love. But unless your data is protected and unbreachable, your customer base is at risk.
At AB Tasty, we’re actively committed to ensuring compliance with all relevant privacy regulations and to being entirely transparent with our users with regard to the consensual first-party and impersonal statistical data we collect when they visit our site. We strive to ensure that our partner agencies and SMEs take accountability and responsibility for the use of their customers’ personal data and respond rapidly should customers want to opt-out or be forgotten.
In this series of articles, we’ll be looking at using data to get value from anonymous visitors, using experimentation to discover customer needs, creating emotional connections to customers with data, and using data to measure your digital impact – all of this featuring data experts from the industry to guide us on our journey. See you soon!