It’s Data Privacy Day in the US, and with new regulations going into effect this year, we asked a few digital experts what the impact of GDPR, CCPA, and other regulations might be on both digital brands and consumers.
Walled Gardens Help Businesses
“There are a few players that will thrive in this new data privacy reality. It will be the walled gardens that own their own data, have an addressable audience, and provide a service to consumers. The average consumer is more than happy to give up their data in return for a free service. The players that will flounder are the ones who collect data in nefarious ways without providing any value to the consumer,” said Raquel Rosenthal, CEO, Digilant. “Additionally, it’s important to note that the SSP and data partner landscape is still very fragmented as it’s easier for big players and middlemen to take advantage of the system and get access to large swaths of data. A more data-centric approach will lead to consolidation on the supply and data side, but the impact won’t be felt as hard by brands or marketers as these players add little value to the ecosystem.”
Data Collection Shouldn’t Feel Like Surveillance
“Consumers are sick of feeling surveilled, and they have a fundamental right to privacy and data security. As marketers and advertisers, we have a duty to ethically approach the way we understand our audiences, while making the protection of their information a top priority. I believe the industry has been taking the wrong approach, and instead of targeting consumers in ‘creepy’ ways by surveilling them, we should be building better ways to interact with them and be invited into their decision-making processes,” said Tod Loofbourrow, CEO and Chairman, ViralGains
Privacy Comes First
“There is a purposeful and important shift toward putting the privacy of the consumer first — setting the groundwork for trust and transparency. The goal is establishing a clear line of vision between the consumer and how their data is being used — and ultimately creating a more mutually beneficial and long-term relationship,” said Carl Van Ostrand, VP of Consumer Insights, DISQO.
Third Party Assessment of Data Regs
“The industry thus far has abdicated its rights on privacy. The industry has let ballot initiatives and congressional office holders and candidates define what constitutes actual risk for consumers and as a result we have generated unnecessary activism and fear about the issue,” said Ray Kingman, CEO, Semcasting. “What we hear every day from brands is that they want an objective third-party assessment to point to regarding what rules apply and what an ID has to be to meet CCPA compliance. For good reason regulation needs to live outside the industry and maybe that means the equivalent of a ‘credit bureau’ that reviews identity resolution processes and certifies vendors proper use and permissible purpose. Otherwise in the open market, brands, agencies and data providers don’t have much choice other than to mimick what the walled gardens have done by compiling and holding personal information but never sharing it in a form that will enhance advertiser insight for fear of creating a compliance risk.”
This article originally appeared on BizReport.