Marketing attribution and conversion tracking: how to ensure data privacy

In today’s modern world of rapidly advancing technology, data privacy is becoming an increasingly important point of focus for organizations in nearly every industry.

One single compliance issue or privacy misstep can cripple the trust your customers place in your organization, forcing you to retrofit security precautions and add even more tasks to your seemingly endless to-do list.

Why not get ahead of the problem and ensure your marketing attribution and conversion tracking are in line with data privacy standards? By tackling these issues early, your organization can continue to scale its marketing efforts without worrying about potentially crippling privacy problems further down the line.

Build on your existing conversion tracking and attribution

Marketing attribution and conversion tracking are the lifeblood of any online organization.

When your business acquires customers and sells products or services online, most customer data points are scattered across multiple databases and storage servers depending on the marketing tools you use. This is a recipe for a data privacy nightmare.

Traditional customer data platforms (CDPs) aren’t the answer either. Most traditional CDP providers ask you to export, collect, and unify all of your customer data in their CDP system outside of your governance and control. Doing so dramatically increases the data footprint of your customers and expands both your privacy risks and security risks.

In addition to the data privacy risks presented by traditional CDPs, their model doesn’t scale well either. Getting all of your customer data into another separate data store requires a significant amount of upfront effort and cost. Why deal with that unnecessary complexity?

Fortunately, there’s a better solution – the “next generation” of composable CDPs.

Implement next-generation customer identity resolution into your organization

Composable CDPs of the next generation provide a modular and flexible approach to customer data. This gives organizations control over how they build their “modular stack” based on the services they need and allows each organization full control over their customer data without relying on an external CDP.

In short, composable CDPs give companies the ability to build around the current data warehouse they have in their organization, letting them create a scalable system without compromising security or privacy.

No more sending customer data to an external organization and hoping their architecture and infrastructure are secure. Utilizing a composable CDP in your business lets you know with absolute confidence that your customer data is protected and in line with data privacy standards.

Best of all, your organization can add specific marketing “modules” to your composable CDP based on the marketing tools you use. Data privacy aside, imagine the time and effort your company would save in simply adopting a secure customer data solution by integrating it into your existing systems. The modular nature of composable CDPs is the future of customer data – it’s time to learn more about how your organization can benefit.

Trends in customer data collection and analysis are changing

Customer data collection and analysis trends are changing, and it’s up to savvy forward-looking organizations to spot these trends and adapt before they have a chance of being left behind.

Some of the most important recent trends in customer data include:

• Less concern about data tracking – In the past, consumers weren’t aware they were being tracked by companies online. This caused a shock when this information did come to light, causing customers to become more defensive when it came to data privacy. Fortunately, customers are less concerned about data tracking these days since they already know their online activities are being tracked and their data is being collected. As customers become more aware and comfortable with this idea, it’ll become simpler for organizations to track their marketing efforts and attribute conversion data.
• Data analytics is becoming increasingly automated – The days of manually analyzing customer data metrics are swiftly coming to an end. With today’s algorithmic approaches to data organization tasks and analysis, the time-consuming portion of data analytics is becoming more manageable. Companies streamlining their data management processes and integrating automation will begin to see greater returns on their investments.
• Data privacy legislation on the state and federal levels – We’ve seen an increasing push towards data privacy legislation within the United States, on both the state and federal levels. Going forward, this will fundamentally change how companies collect customer data, favoring privacy-friendly systems such as composable CDPs.

Why Lytics to guarantee your marketing data privacy?

We’ve discussed the importance of customer data privacy and the trends that are making it increasingly important for businesses to button-up any privacy holes in their current marketing frameworks. Contact the Lytics team today to learn more about custom data privacy solutions your organization can implement.