MARKETING
EU fines Facebook $1.3 billion for privacy violations
The European Union fined Meta $1.3 billion on Monday saying Facebook’s parent company broke the bloc’s laws by transferring E.U. citizens’ user data to the United States. The Irish Data Protection Commission, which handed down the order, said the transfers violated the E.U.’s General Data Protection Regulation (GDPR). Meta’s European headquarters are in Dublin.
Dig deeper: ChatGPT under threat from European regulators
This is the largest GDPR fine ever handed down, surpassing the previous record of $887 million against Amazon in 2021. The ruling gives Meta five months to put in place measures to halt future transfers of personal data to the United States and six months to stop “the unlawful processing, including storage, in the US of personal data of EU/EEA users transferred in violation of the GDPR.”
Why we care. If the ruling is put in place Facebook would have to delete a huge amount of data and restructure its IT systems at a very fundamental level. It also would have enormous implications for any company transferring data between the two areas.
The best hope for staying the ruling is a new data transfer treaty between the U.S. and E.U.
Until 2020, these transfers were protected by the Privacy Shield treaty between the two governments. That year the E.U.’s highest court invalidated the treaty by ruling it did not sufficiently protect E.U. citizens’ data from American spy agencies.
Negotiations have been underway since the high court’s ruling. Last year, President Biden and Ursula von der Leyen, the president of the European Union, announced the outlines of a deal, but the details are still being hammered out. No doubt Monday’s decision will increase the pressure on the U.S. to get it done. However, the complexity of the issues makes it difficult to move quickly.
Only Facebook. The decision applies only to Facebook and not other Meta-owned platforms such as Instagram and WhatsApp.
The company said it plans to appeal.
“This decision is flawed, unjustified and sets a dangerous precedent for the countless other companies transferring data between the EU and U.S.,” Nick Clegg, Meta’s president of global affairs, and Jennifer Newstead, its chief legal officer, said in a statement.
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MARKETING
Trends in Content Localization – Moz
Multinational fast food chains are one of the best-known examples of recognizing that product menus may sometimes have to change significantly to serve distinct audiences. The above video is just a short run-through of the same business selling smokehouse burgers, kofta, paneer, and rice bowls in an effort to appeal to people in a variety of places. I can’t personally judge the validity of these representations, but what I can see is that, in such cases, you don’t merely localize your content but the products on which your content is founded.
Sometimes, even the branding of businesses is different around the world; what we call Burger King in America is Hungry Jack’s in Australia, Lays potato chips here are Sabritas in Mexico, and DiGiorno frozen pizza is familiar in the US, but Canada knows it as Delissio.
Tales of product tailoring failures often become famous, likely because some of them may seem humorous from a distance, but cultural sensitivity should always be taken seriously. If a brand you are marketing is on its way to becoming a large global seller, the best insurance against reputation damage and revenue loss as a result of cultural insensitivity is to employ regional and cultural experts whose first-hand and lived experiences can steward the organization in acting with awareness and respect.
MARKETING
How AI Is Redefining Startup GTM Strategy
MARKETING
More promotions and more layoffs
For martech professionals salaries are good and promotions are coming faster, unfortunately, layoffs are coming faster, too. That’s according to the just-released 2024 Martech Salary and Career Survey. Another very unfortunate finding: The median salary of women below the C-suite level is 35% less than what men earn.
The last year saw many different economic trends, some at odds with each other. Although unemployment remained very low overall and the economy grew, some businesses — especially those in technology and media — cut both jobs and spending. Reasons cited for the cuts include during the early years of the pandemic, higher interest rates and corporate greed.
Dig deeper: How to overcome marketing budget cuts and hiring freezes
Be that as it may, for the employed it remains a good time to be a martech professional. Salaries remain lucrative compared to many other professions, with an overall median salary of $128,643.
Here are the median salaries by role:
- Senior management $199,653
- Director $157,776
- Manager $99,510
- Staff $89,126
Senior managers make more than twice what staff make. Directors and up had a $163,395 median salary compared to manager/staff roles, where the median was $94,818.
One-third of those surveyed said they were promoted in the last 12 months, a finding that was nearly equal among director+ (32%) and managers and staff (30%).
Extend the time frame to two years, and nearly three-quarters of director+ respondents say they received a promotion, while the same can be said for two-thirds of manager and staff respondents.
Dig deeper: Skills-based hiring for modern marketing teams
Employee turnover
In 2023, we asked survey respondents if they noticed an increase in employee churn and whether they would classify that churn as a “moderate” or “significant” increase. For 2024, given the attention on cost reductions and layoffs, we asked if the churn they witnessed was “voluntary” (e.g., people leaving for another role) or “involuntary” (e.g., a layoff or dismissal). More than half of the marketing technology professionals said churn increased in the last year. Nearly one-third classified most of the churn as “involuntary.”
Men and Women
This year, instead of using average salary figures, we used the median figures to lessen the impact of outliers in the salary data. As a result, the gap between salaries for men and women is even more glaring than it was previously.
In last year’s report, men earned an average of 24% more than women. This year the median salary of men is 35% more than the median salary of women. That is until you get to the upper echelons. Women at director and up earned 5% more than men.
Methodology
The 2024 MarTech Salary and Career Survey is a joint project of MarTech.org and chiefmartec.com. We surveyed 305 marketers between December 2023 and February 2024; 297 of those provided salary information. Nearly 63% (191) of respondents live in North America; 16% (50) live in Western Europe. The conclusions in this report are limited to responses from those individuals only. Other regions were excluded due to the limited number of respondents.
Download your copy of the 2024 MarTech Salary and Career Survey here. No registration is required.
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