Check your social media newsfeed on any given day and you’ll most likely find a story exposing a company for a data breach, leak or other mishandling of a consumer’s personal data. Take Yahoo, Marriott, First American Financial and Facebook for example. These high-profile breaches have popped up again and again, forcing brands nationwide to place greater emphasis on overall privacy.
How Does This Impact Advertisers?
As privacy concerns strengthen, brands are trying to understand how to properly handle consumer data while simultaneously reshaping their overall marketing efforts in order to still create relevant moments for consumers.
According to a February 2019 study, eighty-one percent of consumers say they’ve become more concerned about how companies use their data. Consumers demand accountability, respect for their privacy and better protection. Government regulation is being implemented both globally and domestically to help address these growing concerns and empower individuals to control the type of personal information businesses are collecting on them. Ultimately, these laws are protecting consumers and giving them the right to refuse the sale or sharing of their personal data to other parties.
How Can Advertisers Get Ahead of the Game?
California is the first state to implement legislation that directly impacts how brands and marketers utilize customer data. Whether you are directly affected by the California Consumer Privacy Act (CCPA) or not at all, it is likely only a matter of time before your state considers a similar policy. Now is the time to get prepared and we’ve gathered a few tips below to get started.
- Conduct an internal audit to determine what personal information is being collected by your business
- Determine how personal information is being used and if it is sold to third-parties for the purpose of sharing
- Review internal and online privacy policies to comply with the disclosure requirements if required
- Consider deleting consumer information you don’t need anymore – apply the principle of data minimization when considering new products and services if no value exists in capturing the information
- Respond to consumer requests for access to or deletion of information related to the sale or disclosure of their personal information
- Train your staff to understand the concepts and their responsibility related to the handling of consumer personal information
- Review third-party and service provider contracts to whom consumer personal information is provided by your business
- Conduct third-party audits on service providers who have access to your consumer personal information to ensure compliance
- Prepare procedures and documents on how to handle a data breach and the kind of data you will need to provide to regulators, consumers and employees in such an event
How Can KORTX Help?
With compliance at the forefront, we understand marketers are becoming choosier about who to partner with in order to reach customers via digital advertising. The KORTX stack was developed with privacy concerns at its core.
We provide products and services that help brands personalize experiences and create relevant moments for their customers. In order to achieve this level of personalization, the collection of anonymous user data is required. We are committed to the practice of privacy-friendly data collection and strongly support regulation to discourage bad actors. Consumer privacy laws require service providers to offer consumers the ability to purge their personal data upon request. Our data products provide out-of-box ‘Right to Erasure’ and ‘Right to Data Portability’ functionalities.
At KORTX, we work solely with media partners that explicitly state their support for erasure and data portability protocols to protect advertisers downstream. Need more information to ensure you’re prepared? Reach out today!