With concerns around data privacy continuing to gain traction, CMOs should watch for the security trends that can impact their marketing strategies.
The past couple of years have been drastic from CMOs’ perspective. With issues around privacy and data gaining immense traction, brands have to stop relying on third-party data to create their marketing strategies. This has left them no choice but to find alternative ways to extract data for personalization from first-party data. Additionally, it is important for them to know the latest security concerns happening in the industry that can have an impact on their marketing initiatives particularly in their advertising campaigns.
Here are the five security trends CMOs should watch out in 2022:f
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Brand and Regulatory Compliance Will Be Critical
As the demand for more content on more channels than ever before continues to grow, the future will be ruled by compliance, which can refer to both brand compliance and governmental/regulatory compliance. “There have already been a few “best practices” in these areas, such as Facebook’s design, text and technical regulations for ads or brands defining color palettes for logos,”
says Anthony Welgemoed, CEO of Ziflow. He adds, “but these types of restrictions on creators will increase – and it isn’t a bad thing, it just means that creative projects will be more complex to manage since they will have to pass a lot of check marks to get out the door.”
“With the democratization of content creation and production, broad quality control will become a necessity for all creative professionals working on local or international campaigns. For these reasons, solutions will be aimed at simplifying compliance for the creator, managing and tracking it throughout the lifecycle of each piece of content that is created. As more companies embrace tooling that does this, the documentation aspect will even support audits and recording issues in real-time,” adds Anthony Welgemoed, CEO, Ziflow.
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Platform Privacy Updates Changing How Marketers Prioritize Acquisition Data
Major advancements in today’s IoT and smartphone devices introduced meaningful privacy features, advancing restrictions on access to identifiers or measurement techniques. However, Josh Wetzel, Chief Revenue Officer, OneSignal believes that this hinders the ability to accurately target users with advertisements or measure the impact of email marketing campaigns. “With this increased focus on user privacy, we will see a continued degradation in the effectiveness of channels that rely on thirty-party data to target and personalize messages,” says Josh Wetzel. He adds, “These changes will accelerate the shift from display to lifecycle marketing, as marketers will become even more dependent on the first touchpoint with a new customer. Successful brands will leverage this initial interaction to gather “owned” data that can be used to personalize communication with customers across multiple channels. Marketers must focus more on increasing the lifetime value of each customer, through tactics such as offering add-ons or moving to a subscription model.”
Also Read: Five Marketing Analytics Trends to Watch Out For in 2022
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The gap between (data) have and have-nots will widen
Emad Hasan, CEO, Retina AI thinks the positive shift towards greater privacy like the iOS updates and the pending Chrome updates will make it much harder for businesses to leverage third-party data exclusively in cost-efficient advertising campaigns. “This shift makes first-party data – data that consumers choose to share directly or brands get from direct interaction with a brand – much more important. The challenge will be for SMBs to adapt as they will generally have significantly less first-party data due to having a smaller customer base to draw on,” adds Emad Hasan.
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Increasing maturity of new walled garden advertising ecosystems
“New advertising networks, whether it’s Instacart, reddit or Nextdoor will continue to build out their advertising networks in an effort to attract dollars being siphoned off of Facebook,”
says Chris Hill, CSO of Retina AI. He adds, “The sophistication of their offerings will continue improving as they seek to meet the needs of agencies and brands who are used to the maturity of a Facebook or Google platform. While the full build out of these networks will take longer to achieve they will ultimately benefit from the ability to provide advertisers with their own meaningful customer data to provide accurate and relevant audience targeting.”
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