By: Heidi Bullock, CMO, Tealium
Advancements in data integration technology mean brands have an unprecedented ability to better connect with consumers. However, it’s no surprise that consumers are prioritizing brands that can engage in a timely, relevant and meaningful way — while respecting their privacy preferences. About 75% of consumers are not comfortable buying from a brand with poor personal data ethics, according to a recent report.
Savvier and more informed about their privacy rights than ever before, consumers want to know that their data is protected. At the same time, they are willing to opt-in for a better buying experience. This is the privacy paradox, a term coined by Gartner, referring to the constant flux of consumers’ concerns over privacy and their actual online behavior and desires.
Transparency around how customers’ data will be used creates a stronger foundation of trust, and will ultimately allow brands to have a more competitive edge now and in the future, according to the recent In Data We Trust e-guide. With the sunsetting of third-party cookies on the horizon, consent will be the determinant of how brands will form future relationships with customers.
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Originally published by VentureBeat.