How to Achieve Personalization while Maintaining Customer-data Privacy
The recent trend of personalization at scale has retail brands deploying this strategy across all marketing campaigns. However, the rise of personalization in marketing, as well as sales and customer service, is not without challenges. Personalization requires gleaning more private information from prospects and consumers. Digital gains of extracting key data on targets and customers must come with a clear approach on how to keep personal data secure and private.
Ignoring security and privacy of personalization can come with dire consequences including slower time-to-market, constraints on remarketing and consumer-data collection along with devasting fines and injury to a brand’s reputation.
If companies abide by security and privacy measures in their personalization campaigns, they can witness boosts in customer-satisfaction, reduced time-to-market, and slimmer chances of regulatory fines.
McKinsey & Company advocate the below six steps to embrace security and privacy:
- establishing and enforcing standards on security and privacy for creative agencies
- using best practices for data protection in their day-to-day work
- tokenizing consumer data
- ensuring consent compliance
- sanitizing data before using them in outbound communications and remarketing
- being accountable for incidents when they occur
You can read the full McKinsey & Company article here.