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A Privacy First-World Won’t Hurt Your Customer Relationships, It Will Transform Them: Insights from HubSpot’s CMO

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A Privacy First-World Won't Hurt Your Customer Relationships, It Will Transform Them: Insights from HubSpot's CMO

As marketers, we thrive on data.

Data can help us identify when content is underperforming, and pivot to provide the highest value to our prospects and customers. It can also enable us to explore new, underutilized channels, and discover the best platforms to connect with our audiences.

All of this is to say: Any changes to the existing data collection ecosystem will create uncertainty around the future of marketing, and make some marketers fearful about how their current strategies will perform in a privacy-first world.

But a privacy-first world doesn’t inhibit a company’s ability to know and better serve their customers — it improves it. A privacy-first world is a world in which creating and maintaining relationships directly with your customers is the only way to truly understand them.

Here, we’ll explore how the future of privacy will impact your business. Plus, how you can prepare for it.

What is a privacy-first world?

A privacy-first world means that a company’s strategies, technologies, and solutions will need to adhere to a consumer’s right to data privacy and security, first and foremost.

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This shift has been a long time coming. Consumers no longer trust corporations with their data — in fact, only about one-third of customers believe companies are currently using their data responsibly.

Additionally, in the past year alone, 76% of consumers feel they don’t know what companies are doing with their data.

To combat consumers’ concerns, regulations such as the EU ePrivacy Directive CCPA, and LGPD are increasingly requiring transparency around data collection, making a privacy-first marketing strategy necessary to reach global audiences.

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Certain industries have always taken a first-party data approach when it comes to building relationships with their audiences . Nonprofit and advocacy organizations, for instance, have always leveraged data collected directly from their supporters and donors  for marketing materials. So while a privacy-first world might be new for some businesses, it’s not new for all.

Why Privacy-First Matters

As consumers raise their standards in regards to data privacy and security, it’s vital that the advertising industry adapt to meet these needs.

A privacy-first approach ultimately encourages marketers worldwide to develop stronger and more transparent relationships with prospects and customers.

First-party data allows you to better understand your customer based on information they have consented to share with you, which in turn allows ads to be more relevant.

Plus, caring about your customers’ data is simply good business practice. A privacy-first strategy will become a competitive advantage in the years to come.

So the real question here should be: how can you prepare for a privacy-first world? Let’s dive into that, now.

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How can you prepare for a privacy-first world?

We need to reimagine our marketing and advertising strategies to ensure company growth doesn’t come at the expense of consumers’ trust.

As Google’s Director of Product Management, Ads Privacy and Trust, David Temkin, puts it, “Developing strong relationships with customers has always been critical for brands to build a successful business, and this becomes even more vital in a privacy-first world.”

To invest in and prepare for privacy-safe growth, companies need to shift to a first-party data model. Marketers that effectively use their first-party data can generate 2X the incremental revenue from a single ad placement or outreach.

To adjust to a privacy-first world, marketers will need to ensure they have systems in place to collect and measure first-party data effectively. A CRM, for instance, allows you to collect, track, and analyze your first-party data while providing your visitors with the transparency and knowledge that their data is being used for more personalized messaging and a better user experience — not for following their every move across the web.

First-Party Data Use in Action

There are tremendous advantages to first-party data when it comes to marketing. Let’s say, for instance, that you recently eyed a Casper pillow, filled out a form with your email, but got distracted and abandoned the site. Later, you spot this email in your inbox:

Here, Casper marketers are using first-party data to analyze your behavior on their site. Once they’ve identified that you might be interested in a pillow, they can send a targeted, personalized abandoned cart email to encourage you to complete the transaction.

HubSpot and Google’s New Integration for Better First-Party Data Collection

For HubSpot customers, we have good news: HubSpot will be offering an integration with Google’s Enhanced conversions (EC) for web in the coming months. Among other benefits, Enhanced Conversions allows companies to increase the amount of observable conversions they can measure, and ultimately improve their return on ad spend. Visit this page to learn more and stay up to date on HubSpot’s Enhanced Conversions launch.

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Zoe Financial, a wealth planning platform, has seen a 200% increase in revenue by leveraging the current integration between Google Ads and HubSpot. With the addition of Enhanced conversions in the coming months, Zoe plans to continue to take full advantage of the suite of products Google and HubSpot have, thereby optimizing their marketing and client acquisition strategies.

The Founder and CEO of Zoe Financial, Andres Garcia-Amaya, said, “Our north star is the client, and clients value their privacy. Partnering with Google and HubSpot helps ensure the two-way communication of our client’s data in a safe way.”

To excel in a privacy-first world, marketers need to leverage clean, first-party data to measure and optimize their advertising and audience strategies. And they need to realize the full value of investments in first-party data solutions.

Change is always difficult. For marketing teams that have relied for years on third-party data for their advertising strategies, it will take time to adjust to this ‘new normal’ when it comes to data privacy. However, this privacy-first shift should empower marketers to use their privileges to gain trust, rather than to lose it.

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Old Navy to drop NFTs in July 4th promo update

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Old Navy to drop NFTs in July 4th promo update

Old Navy will update its yearly Fourth of July promotions by saluting the metaverse with an NFT drop, going live June 29.

In honor of the year they were founded, the retailer will release 1,994 common NFTs, each selling for $0.94. The NFTs will feature the iconic Magic the Dog and t include a promo code for customers to claim an Old Navy t-shirt at Old Navy locations or online.

“This launch is Old Navy’s first activation in web3 or with NFTs,” an Old Navy spokesperson told MarTech. “As a brand rooted in democratization and inclusivity, it was essential that we provide access and education for all with the launch of our first NFT collection. We want all our customers, whether they have experience with web3, to be able to learn and participate in this activation.”

Accessible and user-friendly. Any customer can participate by visiting a page off of Old Navy’s home site, where they’ll find step-by-step instructions.

There will also be an auction for a unique one-of-one NFT. All proceeds for the NFT and shirt sales go to Old Navy’s longtime charitable partner, Boys & Girls Clubs of America.

Additionally, 10% of NFT resales on the secondary market will also go to Boys & Girls Clubs.

Support. This activation is supported by Sweet, who’s played a major role in campaigns for other early NFT adopters like Burger King.

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The Old Navy NFTs will be minted on the Tezos blockchain, known for its low carbon footprint.

“This is Old Navy’s first time playing in the web3 space, and we are using the launch of our first NFT collection to test and learn,” said Old Navy’s spokesperson. “We’re excited to enable our customers with a new way to engage with our iconic brand and hero offerings and look forward to exploring additional consumer activations in web3 in the future.”

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Read next: 4 key strategies for NFT brand launches

Why we care. Macy’s also announced an NFT promotion timed to their fireworks show. This one will award one of 10,000 NFTs to those who join their Discord server.

Old Navy, in contrast, is keeping customers closer to their owned channels, and not funneling customers to Discord. Old Navy consumers who don’t have an NFT wallet can sign up through Sweet to purchase and bid on NFTs.

While Macy’s has done previous web3 promotions, this is Old Navy’s first. They’ve aligned a charity partner, brand tradition and concern for the environment with a solid first crack at crypto.


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About The Author

Chris Wood draws on over 15 years of reporting experience as a B2B editor and journalist. At DMN, he served as associate editor, offering original analysis on the evolving marketing tech landscape. He has interviewed leaders in tech and policy, from Canva CEO Melanie Perkins, to former Cisco CEO John Chambers, and Vivek Kundra, appointed by Barack Obama as the country’s first federal CIO. He is especially interested in how new technologies, including voice and blockchain, are disrupting the marketing world as we know it. In 2019, he moderated a panel on “innovation theater” at Fintech Inn, in Vilnius. In addition to his marketing-focused reporting in industry trades like Robotics Trends, Modern Brewery Age and AdNation News, Wood has also written for KIRKUS, and contributes fiction, criticism and poetry to several leading book blogs. He studied English at Fairfield University, and was born in Springfield, Massachusetts. He lives in New York.

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