Business News

Transparency and knowledge: The battle for manufacturers in 2021

24, 2021

Read for 5 minutes

The opinions of entrepreneurs' contributors are their own.

Data has been a hot topic for brands, publishers, and agencies since it emerged as a necessary tool of commerce, but it was particularly prevalent in 2021. Unfortunately, there aren't enough specific directions to find the right solution between customers, brands and privacy.

While it may seem like a new topic, companies have long struggled with data issues. Never in history have companies had so much access to data, and this growth has not been accompanied by new rules or regulations to move companies forward. This has led to an increasing number of privacy issues that have no immediate impact on companies that abuse them.

Global regulations, death of the cookie and iOS14

Europe's experience of tackling data protection issues with the General Data Protection Regulation (GDPR) has paved the way for increased data protection regulation. This has led Canada, California, and Brazil to create similar organizations to help develop privacy policies.

The use of cookies since its inception has paved the way for marketers to create user profiles and find targeted customers. However, with Google being the last browser to announce that it is officially removing third-party cookies, marketers have moved to alternative methods of evaluating, coordinating, and serving first-party data in order to find the right content for the right viewer.

The new iOS14 plays a role in data transparency as it introduces the anti-tracking feature. This gives users control over who can track them on their devices and what type of information they share with these third parties, thereby promoting consumer privacy. The new iOS14 will continue to transform the way marketers have tracked their customers over time by highlighting content, context, and user description to increase the performance businesses need.

Related: Creating trust in 2021: innovation and an imperative for data protection, transparency and security

New updates add to a knowledge gap

Publishers, agencies and brands are feeling the effects of the various changes and privacy regulations that keep popping up without the need for guidance on how to adapt to their organizations. They have to work with others in the industry to find new ways to address these issues, or they are left behind because they don't have enough exposure to these conversations, the size, or the infrastructure to move forward with these changes.

This priority or knowledge gap between publishers, agencies and brands has always existed. For years, agencies and publishers have worked to educate customers to look beyond the superficial metrics and evaluate deeper metrics at the site level. However, we still have brands that measure campaigns based on a cost-per-1000, which shouldn't be a performance metric. This gap exists in areas beyond performance metrics such as: B. Getting brands to switch to a mobile-first mentality even if all the data available shows they should be there.

Switching to more creative content

The extensive data and technology systems required to adapt to these changes will ultimately cost companies a lot of money and human capital. In a cookie-free world where everyone is vying for your attention, brands without big first-party data setups have to rely on producing unique content that resonates with their audiences and gives them a reason to come back.

Even brands with the most robust data infrastructure need to focus on staying creative with their content and developing a recipe for desirability. Creativity is the connective tissue between the user and the product. The worst media strategy and placement can still do amazing things with the right creativity.

Our companies have to look inward and break down existing silos. Integrating the performance of content and data can be important if it is managed and used holistically. This could include a change in how you share your creative assets, finding unique ways to integrate the data you need to create more compelling campaigns, or even a complete change in the way you create content and review results .

When it comes to data, it comes down to the need for transparency within organizational structures, the need for branded agencies to use data, reports and various technologies, and the need for publishers to be transparent about what happens to the content they create .

Related: Data Protection, Transparency, and Verifiability – How the New Generation of Blockchains Boosts Adoption

Advances in the world of ever-changing policies and data

There are many challenges and questions businesses face as they seek the right path through ever-changing policies and new data rules. It can be difficult to know the best course of action when things seem unclear, but every company is moving towards these common desires – growing their business, creating something meaningful, and making change. By working together honestly and transparently, and by sharing our collective struggles, we can work together to move all of our businesses forward.

Related Articles