GDPR: the gift that keeps on giving?
At Fospha, we see the GDPR as an opportunity for businesses to improve marketing performance through good data management. Last week, our very own Data Protection Officer joined forces with ClickZ and AT&T to discuss the impact of regulation and marketing technologies on attribution and in turn, enhanced ROI. Here’s what we found…
- A sheep in wolf’s clothing?
The values driving the GDPR should be the same as those underpinning the strategy of any modern marketing function. Enforced correctly, a promised land of better measurement, personalisation and targeted communication awaits…
- Short-term gain, long-term pain.
The GDPR offers something unique to marketing leaders: a commitment from cross-functional stakeholders to prioritise long-term, strategic database improvement. Use this buy-in wisely and consider the next phase in your evolution to becoming truly customer-centric.
- Ban the spam.
The GDPR brings with it a chance to improve engagement with your existing customers but increases the need to attract new customers at their moment of need as a result of potential database losses. Without a true understanding of the role each marketing channel plays in your path to purchase, this will be much harder to achieve.
- The perfect (customer journey mapping) partnership.
The GDPR includes stringent data retention controls making data accuracy more important than ever. Multi-touch attribution unlocks insight into a unique customer’s engagement with your brand at any given time, helping you to decide when it is no longer relevant to store unengaged data.
- Garbage in, garbage out.
The need to define the purpose for storing, analyzing and communicating with new data at the point of collection provides a solid foundation for future revenue growth, but this is only the first step towards better marketing outcomes. Once captured, data strategies must allow for growth and change as new marketing tactics become part of the channel mix. A flexible platform through which varied data sources can be ingested, integrated and offer immediate and actionable visualization in return is therefore required.