Editor’s Note: In this extract from a cogent post on GDPR considerations for marketers, business and consumer trend expert Cory Munchbach highlights the importance of value.
Extract from article by Cory Munchbach
The question of GDPR readiness for marketers is far more than whether or not they are compliant, or asking permission to collect and use data within a narrow scope, or supporting a customer’s right to be erased from the marketer’s database. Rather, readiness is about fundamentally rethinking marketing to be about delivering value — actual, real, compelling value — to their customers that eases the tension once and for all.
Such a shift is so much bigger than consent management. For every ask of the customer, the marketer will be required to grapple with the questions:
“Do I really need this data to accomplish a goal?”
“Why would a customer want to provide this information to my brand?”
“Is the message/campaign/newsletter I am providing in exchange for the information going to be seen as an adequate exchange by the customer?”
Done right, marketers who already recognize the importance of basing marketing on first-party data will actually have even better data, because it is transparently collected and used.