Dave Taylor
Previously featured on Digiday
Recent legislation across several states signals a significant shift in the marketing and data privacy landscapes. As of July 2024, 19 U.S. states have passed data privacy regulations, with more on the way.
The fragmented data privacy reality that’s long been foretold is finally here for marketers. And with California’s landmark CCPA legislation settling into its fourth year and many more states rolling out similar legislation, brands and data providers across the industry face a growing risk of fines in the coming years.
As a result, data privacy has quickly ascended to one of the biggest trends to watch in 2024 and one of the most tangible concerns. Privacy regulations are no longer background noise that can be dismissed as matters for a company’s legal team. Actual fines are hitting, new state laws are emerging and marketers have to adapt to these developments’ real implications for their campaigns and consumer relationships.
Privacy compliance is becoming more visible
Five years ago, it seemed implausible that privacy professionals would become some of the coolest folks at the advertising party. However, in 2024, data privacy experts are being elevated into influential leadership positions. Data privacy is on the docket at most major conferences and summits and has even been deemed worthy of its own events and celebrations.
At the same time, brands, agencies and data partners increasingly view privacy compliance as an area that requires more than rigorous legal box-ticking, where a competitive advantage can be achieved with true dedication. Those with SOC 2, IAB, Neutronian and other levels of compliance and certification are touting these logos proudly and bringing this story front and center into their respective value proposition.
Disclosure and transparency are the new defaults for marketers
As they prioritize trust and privacy, marketers are seeing greater rewards
Meanwhile, risk-taking to achieve competitive advantage is becoming far less palatable among leading brands and agencies. Marketers mitigate risks by prioritizing trusted data partners, channels and tactics rather than trying to distinguish themselves on the first-mover front with untested approaches. Recognizing the heightened sensitivity surrounding data privacy, these organizations understand the importance of aligning themselves with reliable partners known for their adherence to stringent privacy standards and regulations.
By maintaining long-standing relationships with trusted data partners, brands and agencies ensure the ethical sourcing and handling of consumer data, minimizing the likelihood of privacy breaches and regulatory penalties. Moreover, they selectively choose marketing channels and tactics that prioritize user consent and respect user privacy preferences, reducing exposure to potential legal and reputational risks.
This strategic approach safeguards consumer trust and reinforces the commitment of leading brands and agencies to upholding the highest standards of privacy and data protection in an evolving marketplace.
The data landscape will remain dynamic and fast-changing for the foreseeable future, particularly as regulators turn their attention to emerging AI applications and federal legislation that could eventually reduce the strain of state-by-state compliance. In the meantime, the most successful marketers and data partners will continue to face industry and regulatory changes head-on, knowing that every hurdle they clear will put them on firmer ground for the future.
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