According to McKinsey, privacy is a hot button issue for marketers, and government regulators "have already begun to place limits on the use of customer data."
"This shift is expected to have profound implications for digital marketers, who may no longer be able to rely on cookies to boost the efficacy of customer outreach. Those marketers and companies that do not figure out a strategy to maintain—and even grow—their access to first-party data may have to spend 10 to 20 percent more on marketing and sales to generate the same returns."
McKinsey sees the solution as a new approach they call "Data Relationship Management (DRM): data invitation, a data security center, data dialogue, and a data value proposition. Companies that can get this new data relationship right—and that have the people, processes, and technology to implement it effectively—may be able to develop a significant, long-term source of competitive advantage." Read the in-depth article about DRM here: https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/a-customer-centric-approach-to-marketing-in-a-privacy-first-world?
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