The varying degrees of understanding – and especially misunderstanding – about privacy and the use of data for personalization purposes is often a puzzle for businesses. When consumers choose not to share data, marketing teams are limited in their ability to personalize customer experiences, whether it’s products or services. It’s a vicious cycle, because while consumers do not understand that sharing their data is fundamental to creating personalized experiences, companies cannot offer them this type of experience without a minimum of data. And the risk is that consumers think brands don’t understand their expectations.

What Should Businesses Do About Data Sharing?

Start by promoting clear communication about the value exchange your business offers through your website and social media.

Clear communication about data privacy is essential. Most importantly, you will need to tell your customers why you are asking Germany Phone Number List to share their data. This is a crucial point in trying to educate consumers about the exchange of value offered.

Here are some steps you can take to help you communicate clearly about it:

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First, make sure your customers understand why the data is needed and what they’re getting in return. If your customers don’t see the benefits, you need to rethink your communication and your action.

  • Make it clear to your customers how you are using data to create a more personalized and better customer experience overall.
  • Make sure that you are actually using the data you collect to meet customer expectations.
  • Ask customers for feedback, as it is essential in keeping you on track and continuing to meet their expectations.

Brands must use multiple data sources to create instant value for their customers

Brands and companies have more data in their hands than ever before, whether it’s about their customers, the products they buy, sales, etc., and what’s more, from a multitude of channels: online, in-store, in mobile apps, by email, by third parties, etc.

But we know for a fact that a large mass of data available is not necessarily synonymous with valuing data, because it is most of the time compartmentalized in the different departments, services, or structures within a company. Brands will need to look for solutions that unlock large amounts of data from multiple sources to enable quick decisions about what to show customers at any given time. In other words, brands need to start using the right data at the right time to amplify and extend their capabilities to create immediate value for their customers.

The problem for most businesses is that there is no “one size fits all” about customer data.

In reality, customer data is made up of many data sources.

As we said before, data sources are often siled into different tools owned by different teams. However, it is difficult to create a single source of truth from siled data. Sales tools do not easily integrate web or product analysis data. Marketing tools don’t easily integrate subscription data. You need to have a complete and unified profile of every person and business that has ever interacted with your brand.

Second, the data that can be exploited by companies is often messy and sometimes even unusable.

To resolve their data silo issues, organizations can either use integration software or choose to use a single platform to unify data management.

Your data is probably in different software. Integrating these systems is one of the most effective ways to avoid data “silos”. For users of cloud-based applications, Integration Platforms as a Service (iPaaS) represent a very interesting solution.

Among the best iPaaS solutions, we note PieSync, a tool focused on two-way synchronization of customer data, Zapier for one-way data transmissions, and Mulesoft.

Online retailers and e-commerce must make efforts to comply with the new rules relating to the confidentiality of their customers’ data.

As brands collect more customer data and look for ways to best value their relevance in terms of relevance, ensuring compliance with various laws and regulations becomes more complex and difficult, especially when a business operates in different geographic areas in terms of legislation. Brands will therefore have to continue to focus on regularly assessing their compliance with the European GDPR (General Data Protection Regulation), the CCPA (California Consumer Privacy Act) and various other evolving regulations, including those concerning suppliers. and third-party applications that companies work with.

In France, in order to simplify the work of companies in their process of bringing them into conformity with the regulations that came into force in 2018, the CNIL has granted companies a period of 3 years.

This deadline comes quickly. Companies must indeed achieve their compliance before May 25, 2021, as well as a data protection impact assessment (DPIA – Data Protection Impact Assessment). In the event of non-compliance with the rules relating to impact studies, the penalties may be extremely severe. The fines can indeed reach up to 10 million euros. For a company, the amount retained may correspond to 2% of the turnover of the previous year.

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