https://www.marketingtechnews.net/news/2018/mar/21/gdpr-two-big-benefits-advertisers-can-expect-2018/
Generally, regulation is a dreaded by companies due to its high compliance costs and imposition on strategy and operations. No doubt advertisers are less than thrilled about GDPR and the limitations it places on the use of consumer data. This article gives an interesting perspective on the benefits of GDPR for those who are forward thinking about what it means for digital marketing.
To me, it seems advertisers have been a bit 'lazy' with regard to data, collecting as much as they can, despite the fact that a lot of it is not useful. The article suggests, to this end, that data quality will improve as a result of the regulation. The costs associated with having large volumes of data that do not provide a lot of value were relatively low before, but that will change under GDPR and it will become much more expensive. Advertisers will be forced to have a more focused data strategy with clear and meaningful ROI targets.
The second benefit the article suggest is improved ad experiences. It is spot on in saying that many consumers tune out ads, finding them irrelevant and intrusive. They even go as far as to block the ads, further limiting the ROI using the current strategies. GDPR requires advertisers to use customer-verified data, which means that targeting can be significantly improved. Personalized ads are far more successful.
While the initial costs of complying with GDPR will surely be burdensome, firms who embrace the change and the challenge will be well positioned to ultimately capitalize on it.
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