Why it matters
Data privacy is a growing concern among regulators and consumers, with increasingly harsh legal and reputational punishments likely to result from failures in this area. Brands that deliver best-in-class solutions, however, have an opportunity to achieve meaningful differentiation
- Marketers should consider if the best strategy is to collect every piece of data allowed by law, or take a more nuanced strategy and communicate this to consumers.
- With digitiztion and personalization giving brand custodians access to ever-increasing amounts of data, finding new ways to secure these details is vital.
- Engaging with consumers more actively and openly around the subjects of data and privacy will be a vital task for brands going forwards.
At a time of growing consumer mistrust in the tech industry, Apple is touting its focus on data privacy as a major point of brand differentiation.