In recent years, data has enabled marketers to create more personalised campaigns, providing consumers with relevant and engaging messages. Data provides marketers with insights into how well their ads are doing, enables them to determine the ROI of their campaigns, and provides a deeper understanding of who their customers are.
Little wonder, then, that the EU’s General Data Protection Regulation (GDPR) has had a rather icy reception among advertising agencies.
The aim of GDPR, as Marketing Tech News explains, is to provide consumers with more control over how their personal information is stored and used. And falling foul of the new data protection rules could land companies in some serious hot water, with fines amounting to €20m or 4% of annual global turnover — whichever is higher.
While GDPR will, undoubtedly, require marketers to make some changes to ensure compliance, the rules will actually bring several long-term benefits. So, instead of viewing GDPR in a negative light, focus on these two aspects, which are sure to have a positive impact on your advertising efforts:
Better quality data
When it comes to data, advertisers are hoarders. Just like you refuse to chuck out your favourite pair of jeans from your teenage years in the hope you might, one day, fit into them again, advertisers are scared to let go of old data, in case it will magically reveal actionable signals at a later date.
But GDPR will make it more expensive for advertisers to store a limitless library of data. It will push advertisers to ditch volume in favour of the most valuable information. And that can only be a good thing.
As Marketing Tech News discusses, almost a third of marketing data becomes unusable after just one year. Now think back to the data you’re storing: when was the last time you checked if those email addresses submitted in 2014 are still in use?
Thanks to GDPR, marketers will be forced to focus on quality over quantity, leading to meaningful datasets that actually provide actionable insights and drive ROI. What’s more, the requirements for consent and opt-in will mean that brands have more authentic data.
Better ad experiences
With more relevant data, marketers will be able to create more engaging ads, providing consumers with better ad experiences.
According to a recent study by Marketo, almost two thirds (63%) of consumers are annoyed by impersonal and generic ad campaigns. So it’s hardly surprising that the use of ad blockers continues to rise.
By swapping out irrelevant and outdated data with customer-verified information, they’ll be able to create more meaningful, tailored experiences, leading to more effective campaigns.
But you don’t have to wait until GDPR comes into effect to start working on developing more engaging marketing messages. If you’d like help making an impact with your ads, speak to Fireworx today.