Wharton Customer Analytics
Why Marketers Should Embrace Consumer Privacy Regulations
The consumer privacy landscape is rapidly changing. Europe has been leading the charge with the General Data Protection Regulation (GDPR). In the US, however, companies are faced with a patchwork of laws. The California Consumer Privacy Act (CCPA), one of the better known regulations, just started being enforced on July 1. Other states may follow suit with slightly different rules, and California is voting for a new privacy act in November.
While most marketers understandably approach privacy with feelings of skepticism and loss, we offer a contrarian view. Marketers should embrace privacy legislation as it provides an opportunity to redefine their data strategy and deliver an exceptional customer experience.