Is the End of Self Regulation in Data Privacy Here?

  • By Emily French
  • in , ,
  • on August 16, 2019

Now more than ever, people want their data protected. This doesn’t come as a shock given the countless data privacy scares we’ve experienced this year- the FaceApp frenzy, the hacking of 100 Million Capital One credit card accountsthe revelation of Alexa listening and transcribing private conversations, and strangely similarly, Facebook’s recent admittance to using third-parties to transcribe audio messages in their Messenger app. The Advertising Research Foundation recently reported that consumers aren’t enticed by the promise of personalization in exchange for data, and their willingness to give up this information is dropping significantly

Their study showed that compliance to share a home address has dropped from 41% to 31%, while those willing to share an email has dropped from 61% to 54%, and the willingness to share a spouse’s name dropped from 41% to 33%. Participants of the study responded that they understand why user data is of importance for advertising purposes, but aren’t necessarily knowledgeable regarding terminology or more technical tactics, which may further incite anxiety and skepticism when these data breaches do arise. The Advertising Research Foundation’s study implies that consumers are more involved in the discussion of cybersecurity and data privacy, and they’re becoming more wily and selective when it comes to what they’re willing to share. 

Although Facebook’s $5B Fine didn’t hold enough weight to even rock their stock prices, marketers are gearing up for the end times of self-regulation and laissez-faire data policy laws. More than likely, the California Consumer Privacy Act (CCPA) will be set to go into effect starting 2020, which the International Association of Privacy Professionals called, “the most influential privacy law the United States has ever seen.” According to their website, the law is set to accomplish three things:

  1. Protect your right to tell a business not to share or sell your personal information.
  2. Gain control over the personal information that is collected about you.
  3. Hold businesses responsible for safeguarding your personal information.

This law is set to bring about transparency in a more tangible way by allowing users to request information on what specifically was collected, who it was shared with or sold to, and why this information was acquired. It also allows California citizens the right to request deletion of personal information, and even the right to opt-out of their data being sold to third-parties. Given the massive scale of data privacy breaches in recent years, it goes without saying that something needs to change, and the CCPA may be a precursor of what’s to come at the national level. Although programmatic third-party cookies have been the name of the game for many marketers of the last decade, we expect that there will be a shift towards advanced contextualized targeting in a future where data privacy is more distinctly regulated.

Digital Marketing Transformation

With 53% of Marketers planning on adopting Artificial Intelligence in the next 2 years, the digital marketing revolution is just getting started. CMOs and CDOs alike are seeking new ways to maximize their digital reach to attract new business to, as well as deliver enrich, personalized experiences to existing customers.

The Digital Marketing Transformation Assembly will bring together North America’s most prominent digital marketing technology and business leaders from all major consumer-driven industries to discuss the latest technology, innovations, and strategies driving digital marketing in 2019 and beyond.

Are you interested in becoming a sponsor for this event? Click here today to learn more >>

Are you interested in attending this event? Inquire here today to find out if you qualify for Millennium Membership >>

Leave a Reply
PUBLISHED BY Emily French

View all posts by Emily French

Related Posts
#MillenniumLive Making Ordinary Customer Experiences Extraordinary

#MillenniumLive , Customer Experience , Podcast

#MillenniumLive Making Ordinary Customer Experiences Extraordinary
How SoFi Drives New User Acquisition with Slickdeals

Financial Services , Marketing , Retail

How SoFi Drives New User Acquisition with Slickdeals
#MillenniumLive on Healthcare in America with Dr. Jonathan Gruber

#MillenniumLive , Healthcare , Podcast

#MillenniumLive on Healthcare in America with Dr. Jonathan Gruber
Optimizing Your Web Experience with Glassbox

CMO , Digital

Optimizing Your Web Experience with Glassbox
Looking to
Sponsor?

Reach thousands of C-Level
Executives every month.

Next Request More Information
Become a Guest
Contributor

Do you have content that you feel will
resonate with our audience? We'd love to
welcome you as a guest contributor!

Next Contact Digital Diary
Lovin’ Digital
Diary?

Premium content to our readers
interested in all things business.

Next Subscribe Now
Check Us Out!

Millennium Membership offers Fortune 1000 C-Level executives, leading public sector/government officials, and thought leaders across a variety of disciplines unique and exclusive opportunities to meet their peers, understand industry developments, and receive introductions to new technology and service advancements to help grow their career and overall company value.

Next About Millenium Alliance
team
About Digital Diary
The go-to source for all things digital transformation.

Launched in 2017, Digital Diary was created to provide premium content to our members interested in executive education and business transformation. With C-Suite executive and top academic contributors, interviews with industry leaders, and digital transformation insights from technology experts, Digital Diary has all of the professional development tools you need to stay ahead of the curve.

Meaningful Opportunities
Leadership skills at every level

We are dedicated to distributing meaningful opportunities for our reader to increase their personal knowledge, simplify business initiatives, and to have the right information to build their capabilities and leadership skills at every level.

team
Millennium Alliance Membership

In the midst of disruption across all industries, our members are given the tools they need to digitally transform their organizations.

 
What does it mean to be a
Millennium Member?

Joining Mill All is an opportunity unlike any other to connect with the best professionals in your industry and be a part of a community to become the best leader you can be.

50+ Annual Exclusive Invite-Only Assemblies
$1 Billion+ In Business Deals Conducted Annually
47k+ Engaged Members
2k+ Executives From Fortune
500 Companies Attend Each Year
97% Of Members Are VP Level & Above
5k+ Annual 1:1 Networking Meetings

Interested in Learning More?

Reach out to us or
keep learning
arrow Read the Digital Diary
NextConnect with Us