GDPR and Digital Advertising, is GDPR the big shakeup that will change the world of targeted advertising?
A recent survey by W8 concluded that GDPR will make 75% of UK marketing data obsolete.
“Data” is a dirty word. We have all been probably, shocked and surprised by just how many companies have our information on their databases, as the flurry of “Don’t Leave Us” emails hit our inboxes. Many customers have a nagging feeling that there is something sinister about all this data mining that routinely takes place when we shop online. Companies have shared and made money from our data for years. GDPR if anything has forced business to look at the key relationship factor with their customers – TRUST.
However, with a constant and growing stream of bad news stories about data theft, data breaches and misuse, it’s no wonder that customers are beginning to be more suspicious of brands and the way they handle sensitive personal information.
Veritas’ Global Data Privacy Consumer Study – which surveyed 12,500 consumers across 14 countries – found that 47% of respondents would consider turning to a competitor in the event a company loses control of data privacy. Similarly, 79% would tell their friends and family to boycott the organisation and 60% say they would post negative comments about the business online.
When customers offer up their data they have to believe that it won’t fall into the wrong hands. People want reassurance, diligence and transparency. That is a long term and ongoing commitment from brands and for smaller companies in means extra costs and manpower that many can’t afford.
Then other big problem for smaller companies is that the GDPR emails they sent out, seeking consent, have been mostly ignored by many of the customers on their existing database. They have lost valuable followers, and subscribers.
A recent survey by W8 concluded that GDPR will make 75% of UK marketing data obsolete. That’s a huge reduction on customers on database for any company to sustain.
So there is now an imperative for small to medium companies to reach new customers and build new audiences and new relationships. Many industry observers believe we are entering a period of “Data Austerity”. Brands will look for other way to reach customers and re-establish trust.
At Toast we know from experience and research that brands on TV are the most trusted. A cost-effective well-targeted TV advert brings home the bacon when it comes to brand awareness and delivering new customers.
Research from Thinkbox tells us that.
“The pendulum is swinging back to TV. We have more proof than ever that TV advertising drives business growth and outperforms all other forms of advertising. TV is a proven, trusted, high quality environment for brands.”
Why not talk to us about how we can grow your customer base, deliver trust and awareness. The days of the direct marketing email might be numbered as less customers want to share their data or be on company databases. Where data is concerned the consumer is now in the driving seat not the brand.
The smarter brands including the big digital companies, Google, Apple, Amazon, etc are spending more money on TV advertising not less. They know how effective it is. Talk to us because the biggest surprise will be how affordable it is.
