Brands are increasing privacy regulations as they rush towards digitization – since users are more concerned than before. This includes the postponement and eventual elimination of cookies.
With the growing mandates around data and privacy policies, businesses are actively implementing and following consumers’ information safety norms. Recently, Kubient, in association with Pollfish, analyzed different views of marketing and advertising professionals in order to understand the snapshot of industry perspectives.
Given the current market scenario, brands are increasing privacy regulations as they rush towards digitization – since users are more concerned than before. This includes the postponement and eventual elimination of cookies as well as how it affects the extensive marketing and advertising ecosystem.
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The top insights on consumer privacy protections, according to more than 1,000 marketing and advertising professionals surveyed are –
- Nearly 66% of marketers support federal consumer regulations like the California Consumer Protection Act as well as the Colorado Consumer Protection Act. Among them, their primary reasoning to support such laws are –
- About 34% believe it would be easier for marketers to follow such federal guidelines compared to each state creating bespoke data guidelines.
- Roughly 26% believe privacy commands should be in place to protect their target audience.
- Approximately 20% indicated marketers should model the GDPR policies for new US federal privacy standards.
- Almost 70% of brands think consumer knowledge of data collection (with the help of an ad blocker, opting out of cookies, etc.) has influenced the reach and measurement for their recent campaigns.
- Regarding sourcing support, around 40% of the respondents plan to hire an expert to tackle Google’s news for third-party cookies being eliminated or the iOS 14.5 updates for opt-ins to tracking.
As explained by Paul Roberts, CEO at Kubient – “On one hand, the industry relied on data and cookies for targeted and efficient advertising. On the other hand, the CCPA and proposed legislation can unify marketers under one set of compliance– and shines a spotlight on tech conglomerates’ anticompetitive grip on their user data.”
Some other key highlights from the study are –
- More than 30% of respondents have thought of various marketing strategies as alternatives to reflect the elimination of cookies. But, 17% plan to shift their strategy as it happens in 2022.
- Surprisingly, about 57% of marketers demanded a brand changes to a file they were keeping personally.
- Over 60% of businesses believe consumers benefit from the proposed privacy regulations, like CCPA and the NY privacy act.
- When it comes to industry organizations like the Association of National Advertisers, almost 60% of brands think they support marketers while navigating through new privacy legislation.
- Another 88% indicated some level of concern on the rise of privacy regulation requiring a shift in plans on a restructuring of campaigns.
Also Read: How Marketing Leaders Need To Prepare for a Cookie-Less Era
Clearly, as privacy legislation and congressional hearings continue to increase, marketers are concerned about targeting and reaching the right consumer – while they remain compliant with the updated policies.
Robert also added, “With the bulk of respondents supporting federal legislation of consumer privacy protections, marketers are aware that although data is abundant, it’s often taken for granted and shouldn’t be leveraged at the cost of consumer trust.”
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