OneTrust CEO, Kabir Barday, on the importance of first-party data for marketers today
Market drivers in 2024
By this point most of us have heard of Google’s deprecation of third-party cookies. Here’s the TLDR version – Google Chrome, the most widely used browser in the world is getting rid of third-party cookies by Q3 of 2024. What does that mean? It means organizations need to move away from third-party cookies as a source of customer data and develop first-party data strategies to carry out personalized marketing experiences.
Along with Google’s announcement, there are also a whole host of privacy regulations coming down the pipeline this year – with 14 states now having comprehensive privacy regulations in the US, adding to the global landscape of GDPR in Europe, PIPL in China, PDPA in Singapore, LGPD in Brazil, APPI in Japan, and more. Each of these regulations has its own flavor of consent – in Europe the general rule is that prior op-in consent is required for processing whereas in the U.S. offering an opt-out right is generally sufficient.
Organizations are also dealing with a customer landscape that expects personalization more than ever before, with nearly 70% of customers expecting a personalized experience. These experiences require companies to now hold more data than ever before, and with this data generally sitting in different systems across an organization — the need for consent and preference management is evident.
The importance of consent and preference management today
In response to all the market drivers we just talked about, there’s one solution that checks all of these boxes. You guessed it — OneTrust UCPM (Universal Consent & Preference Management) — powered by real-time regulatory updates from around the world, a robust integration network, and easy-to-use customizable templates for preference centers that enable first-party data strategies.
Organizations can now make the shift from third-party cookies to first-party data with ease, embedding collection points across their digital channels in a way that leads to a seamless user experience.
Dealing with regulatory updates is also made easy, as real-time regulatory updates are fed into OneTrust, making sure your backend systems are staying in line with major privacy laws in all applicable jurisdictions.
OneTrust + Adobe
So how does the OneTrust and Adobe partnership go about enabling personalized marketing experiences? Effective personalized experiences can be broken down into three steps – collect, unify, and activate.
Collect
During data collection, organizations need to make sure that they’re being transparent with their visitors across all digital channels. When offering visitors to consent to data collection, the following needs to be communicated:
What data is being collected?
Why is it being collected?
How will this be used to improve the customer experience?
What are the relevant privacy policies related to data collection?
How can customers go about withdrawing consent?
Along with all of this, companies must go about obtaining consent in a compliant way based on the jurisdiction that their visitor is in. For example, a user in London will have a different consent mechanism than one in California.
With OneTrust UCPM, organizations can handle all of these with a centralized database that provides detailed records of consent data (time, channel, purpose, location, preferences, and more).
Unify
This layer of consent and preference data will then be integrated with the Adobe Real-Time Customer Data Platform (CDP), enriching customer profiles to create addressable marketing audiences for targeted experiences.
Consent data is only useful if it talks to a company’s Martech stack. In other words, what’s the point of collecting someone’s preference data if this data isn’t unified with your customer data platform? With this partnership, you now get a comprehensive view of an individual’s preferences profile from OneTrust UCPM in the context of actionable marketing experiences in Adobe Real-Time CDP.
This integration allows for marketing experiences to have targeted audiences powered by consented data. By ensuring this data is in a centralized location, teams across the org such as privacy, legal, and security can also ensure that your policies are up to date – making way for personalization at scale.