Three Ways Marketers Can Transcend The Push For Data Privacy
Consumers today are seeking more privacy of their data, and rightly so. Many people find…
Consumers today are seeking more privacy of their data, and rightly so. Many people find increasingly personalized advertisements intrusive and a violation of their privacy. In response, governments worldwide are enacting tough privacy and security laws such as GDPR in Europe and CCPA in the US. Industries are also driving change to give online consumers more control over how their data is used. Since April 2021, many people have the option to prevent advertisers from tracking them by default on their mobile devices. Over the last six months, most people have opted out of tracking. These changes have impacted real-time digital marketing campaigns, revenues of marketing services providers, and revenues of some of the digital giants. The push for user privacy among tech giants is growing and more of them plan to take action to support greater user privacy needs. Here are three ways digital marketers can reimagine best practices in a privacy-first market.
Know your audience and their emotions
The customer’s buying decision is mainly driven by emotional reasons, in addition to logical ones. This emotional connection between a brand and its customers has a huge impact on customer retention and ultimately on sales and profitability. To build this emotional connection, marketers need rigorous investment into understanding the customer’s emotional motivators. This starts with developing clear target audience definitions so the marketer can create a program that appeals to their emotions. For example, an organic apparel brand may appeal to the “sense of purpose” of millennials as they are among the most sustainability-conscious generations.
The most valuable audience definitions are based on high volume segmentation where marketers use real-time data to identify target audience groups – that are similar in specific ways such as age, gender, interests, and spending habits. For example, SAP Marketing Cloud allows marketers to use demographic, transactional, behavioral data, as well as predictive information, to create target audience definitions (such as millennials who have bought one or more products within the last three months). With this data, marketers can create stronger multi-channel campaigns across social media, email, SMS, and other customer touch points .
Connected data powers effective customer journey maps
Traditional views of the customer journey focus on touchpoints instead of outcome-focused experiences. This traditional and siloed approach does not deliver the best customer experience because it does not provide customers with an end-to-end experience, or support an insights-driven focus on the customer’s interactions. Bespoke and agile customer journey maps that connect all interactions and bring data together from different channels into an end-to-end journey are the new standard.
For example, when a marketing manager can create bespoke customer journey maps by analyzing customer journey trends across channels for a specific week, made by customers age, they can gain greater insight into what drives customer interactions from one channel to another. They can also see which channel was key to assisting the customer towards the purchase of a subscription or a service.
A team of over 800 consultants at a US-based, global digital agency faced difficulties walking clients through the end-user buying journey, and struggled to tell a unified end-user story. This resulted in sales cycles spread over many months. With SAP solutions, the agency created a seamless, unified B2C and B2B customer buying journey and shortened the sales cycle to just a few weeks for faster revenues and profit realization at a lower cost.
Create the perfect customer experience
In the experience economy, organisations can no longer compete on great products and services. They also need to deliver great experiences and approach marketing like a person looking for personal connections to build customer loyalty, earn repeat business, and increase revenue. One of the best digital agencies in Germany uses SAP Sales Cloud and SAP Marketing Cloud to establish new sales and marketing processes which have delivered unique experiences for customers, while working more efficiently with fewer resources and a 360-degree view of its customers.
Another example of a brand that drove a competitive edge with better customer engagement is a leading multinational engineering and technology organisation that chose SAP Marketing Cloud to provide its marketers with a 360° view of the customer. The organisation can now engage with its customers in real-time, communicating back within 45 seconds.
As the push for user privacy among consumers and tech giants continues to grow, digital marketers need to adapt to the new normal while respecting and protecting the data privacy rights of customers and their information and complying with the required regulations.