Data depreciation is an issue that both companies and brands must take into account. This implies that already cannot use consumer data that have not been obtained transparently and in accordance with the regulations. This includes data that has been collected over years because, even if collected legally, the old regulations did not sufficiently protect users.
“In English, when something is ‘deprecated’ it means that, although it is available or allowed, it is not recommended. And, this is what happens with consumer data right now. For years, brands have had unlimited access to this data that is available and permitted, but is no longer recommended to be used, unless it is consented, compliant, transparent and exploitable data.Explain Anthony Molina, CMO of Qualifio, platform for the collection of zero and first-party data, interactive marketing and loyalty.
This is why data deprecation currently affects the way brands and consumers interact, share data and establish relationships.
Data deprecation is the result of four factors: the limitation in the exchange of information, carried out by the large Internet players, in defense of the privacy of users (for example, with the purpose of third-party cookies announced by Google); the new regulations on data protection; the use of walled gardens by the technology giants so that service providers have greater control and, the awareness of consumers about the use of their data.
Strategies against data depreciation
So what strategy can brands and companies follow to deal with data depreciation? From Qualifio, they recommend performing the following actions:
- Evaluate your current strategy for collecting data. It is important to know the type of data that is collected and to know if all the information collected is used. In addition, it is also important to know if the data is in a single location, if it is organized, what are the integrations with the marketing solution providers you use, etc.
- Check the regulatory compliance of your data. Third-party cookies will soon disappear, so it is essential to have a data collection strategy that adapts to the new data protection in which, among other things, you have to ask audiences for permission to collect and use their information, in addition to explain to them the use that is going to be made of it.
- Collect first and zero-party data. First and zero-party data is the data that users voluntarily offer to companies and brands when they visit a website or want to improve their experience. For this reason, they are the best solution to the depreciation of the data since it is information obtained in a respectful way.
- Try new ways to collect data. Interactive marketing and loyalty programs are some of the strategies that brands and companies can launch to better understand their audiences, learn about their needs and discover their expectations, while respecting the new data protection laws.
