The California Consumer Privacy Act (CCPA) was just recently enforced and Californians just approved yet another data privacy legislation. Things are moving fast in the world of consumer data. Brands can no longer approach data privacy as a compliance problem to solve.
Expectations have shifted toward privacy as an inherent right as a consumer. Consumers are exercising their rights related to:
- Selling their data.
- Deleting their data.
- Modifying or editing their data.
Marketing and sales are feeling the impact. But it isn’t all dismal news for revenue-generating initiatives and brands looking to go beyond the CCPA compliance checkbox. Consumer privacy is a major opportunity to stand out.
You may be struggling with how to engage with consumers while respecting and maintaining their privacy. Below we outlined three steps for growing your top line, while still maintaining privacy compliance and delighting your customers.
1. Know Your Customer with Unified Data
Knowing your customer seems simple and straightforward enough. But most enterprises use over 280 applications within their organizations—many of which house consumer data. These siloed applications include personally identifiable information (PII), which is regulated by CCPA and other leading privacy compliance legislation.
To truly know your customer, you need to unify and translate disparate data sources into a common language. This means resolving the actual identity of your customer by removing all those duplicate records stored across systems. With identity resolution, you create a holistic privacy-driven customer 360 view.
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2. Build Trust Through Consent Management
After you unify customer data and create a singular 360 customer view, you know who your customers actually are and how they interact with your brand. This is a key step to building trust with your customers. It is nearly impossible to respect and comply with their privacy preferences if you are not able to even identify who they are.
Consumers are growing increasingly savvier about their personal data. 71% of consumers worry about how brands collect and use their data. They are willing to make purchasing decisions based on trusting brands do to what is right with their personal information.
According to a recent consumer trust survey, when brands build trust, consumers reward them with their loyalty and advocacy. Building loyalty and trust with your customers starts with understanding what privacy means to each of them through consent management.
A consent management platform helps you capture customer preferences related to their data privacy. However, being transparent about how you are using customer data and making it easy for your customers to select their preferences is important for building trust.
Collecting these preferences is not enough. Building privacy-first experiences for your customers means leveraging these preferences as a part of their journey with your brand. Privacy consent should be treated just like any other preferences—used to segment customer profiles and build privacy-compliant audiences.
3. Deliver the Right Message with Real-Time Activation
You’ve mastered your customer data and created privacy-driven audiences. The next step is to enable real-time channel activation to deliver the right message to the right person at the right time.
Consumer data changes fast…and big data continues to grow alongside privacy concerns. You need a solution that scales with your data needs, one that supports the real-time activation of your customer data across the many systems you use to engage with your customers—including email marketing, advertising, Ecommerce, and CRM platforms.
Being a privacy-first brand is a complete differentiator. You can boost customer acquisition, retention, and loyalty by delivering a connected, personalized experience rooted in your customers’ consent and privacy preferences.
It all comes down to creating customer loyalty and driving revenue performance. This is absolutely achievable when you become a trusted brand that delivers privacy-first customer experiences.
SkyPoint is here to help you grow your top line and maintain privacy compliance. See how our consent management platform works for your team.