Online advertising is a crucial part of the modern world. This is how consumers get the help they need to make important purchasing decisions. Moreover, it is also how businesses improve their chances of generating sustainable revenue streams. Unfortunately, shady practices in the digital environment have sparked some controversy over the ethical nature of some online advertising solutions.
Data collection and sharing
It’s no secret that organizations like Google and Facebook are constantly collecting user data in order to provide consumers with a more personalized web experience. These large advertising organizations then process user data, package it and pass it on to other interested parties. This is how they make sure they earn enough money to provide a free service to their customers.
Although research indicates that most people don’t mind sharing their personal information with companies – particularly if it leads to a better shopping experience – they expect to be asked about it. their permission first and potentially being offered something valuable in return. Indeed, according to a study by Colombia Business School, 80% of customers would voluntarily reveal data about themselves in exchange for better product recommendations or rewards points.
However, problems arise when companies collect data without asking for it. Many people view this information-gathering practice as unfair, invasive and, in some cases, illegal. Not only does inadvertent data collection bother customers, but it is also extremely difficult to protect this information, which sometimes leads to data breaches and the resulting problems.
Transparency and control of advertisers
Rather than stealthily collecting data, companies need to deliver seamless solutions that effectively balance a tailored user experience with a commitment to privacy.
Allowing consumers to access the personal information submitted through the data collection process and where that information goes can help advertisers maintain consumer trust while still being able to collect the data they need.
Agencies and clients need to maintain financial and operational transparency, which can be achieved through real-time visibility and reporting on their advertising campaigns.
Paving the way to better customer-business relationships
If your goal is to build trust in a customer-company relationship, honesty is essential. However, rebuilding trust requires clarifying the information you have already gathered. From this point, your business can listen to consumer feedback and concerns, validate their responses, and ultimately develop an action plan that addresses the steps you’re taking to move forward.
Although a project that relies on greater transparency in the world of advertising may mean that many companies have to transform the way they do business, from my point of view, this could be a significant step forward in the industry of The advertisement.
The demand for greater transparency
As complicated as this new change may be in the eyes of advertising brands, many companies agree that something needs to be done to improve the regulation of transparency in the area of marketing and data collection. Moreover, with new EU legislative framework put in place, these tools and insights will not only be relevant to a wide range of businesses, but also critical to maintaining compliance.
Ultimately, the growing popularity of a digital world doesn’t necessarily mean that customers have to give up their privacy. While businesses always need data to help them make more informed and confident marketing decisions, it’s important to think carefully about how this information is collected and stored. All consumers should have a choice about who accesses their data, and the online world is working hard to make that expectation a reality.