From research, projections show that significant data security will grow to approximately $64.4 billion by the year 2027. Another interesting fact is that estimate indicates that about 90% of all global data is online a few years old. For marketers, this is good news since they get to know their customers’ minds by gaining insight. However, it can also come up with its fair share of troubles when it comes to privacy, security risks, and storage issues. It is especially increased since the emergence of working from home, and most employees do not have a secure network connection. Every customer needs the assurance that their data is secure. The customer experience and especially in the covid19 pandemic depends on it.
Why should marketers care about the security of data in digital transformation?
More management’s needed with the rise of Data and Devices
The internet of things has been growing. For marketing teams, they now have tons of data they have collected from their customers. They have information on your location, schedule, how much you use your phones, or even how long you sleep. It has a flip side, though. This information is too much for companies. Most companies accumulate data that they do not need. The companies store data in different places from various sources, with this much information. It is where a platform for customer data can be helpful. For many companies, they have got a solution by developing Customer Data Platforms.
These CDPs serve customer information from a single point. They (CDPs) allow the companies to gather information from many different platforms, channels, and devices, join them into one location and create an up-to-date and whole view of your customer. The simpler unified view can help determine the data you need and what you don’t need. All data collected can be a security risk; this risk should be justifiable.
Part of or brand should be transparency and security
Companies need to understand that customers are not stupid. People now understand that in today’s market data is valuable. And with this, they want to know what happens to their data. When customers provide their data, they don’t want to do it for any reason, and once they agree to offer up the information, they need to know that the company will take care of it. Slowly as the big data market continues to grow, marketers need to understand how security and privacy come into play when it comes to their brand and the customer experience. It means that the company needs to take proactive measures with the customers’ data and be transparent about how the customers’ data is being used. A customer data platform acts as a data paper trail.
Personalization with granular insights is essential
Personalization is something that customers don’t want, but something that’s expected. The data that the company collects from the customers helps them know their customers at a granular level. It creates more communication that’s customized, product recommendations, offers, etc.
Automation is essential
Collecting data is one thing, and it is another to use the data gathered to get used in a meaningful way. Automation is the way that you can do this. Using machine learning and artificial intelligence will allow predictive insights from the data to make customers feel appreciated and known. Automation can also help with the generation of content. It helps to change the content in real-time if something is not working well. Tweaking content to fit the taste of a specific customer becomes easy. It saves your team time and energy and gives them time to focus on more things.
Conclusion
With the recent coronavirus pandemic, it is for you to be ready at all times. The industry may upend itself. Agile companies are the only ones that can stand any sudden change. And when it comes to digital transformation, change is the only thing to expect. As a company questions, you should be asking yourself is, what is the possibility of your company handling a crisis. And what model should you put in place to ensure that you enjoy the big growing data?
