Now you may say it’s unfair to ask a question that can’t be given a quickie reply, but we asked it nevertheless. Here’s Dr Bhaskar Das in the June 5 edition of Das ka Dum. Read on…
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Q. There is growing concern for data privacy and hence ethical and responsible use of consumer data? How should marketers ensure personalised experiences and still comfort consumers that their data is safe?
A. I know that the issue is akin to a Hamletian dilemma. While technology has enabled hyper-personalisation, but privacy concerns amongst consumers are also a reality. Corporates have to learn to leverage the two symbiotically, rather than treating them as two activities in silos.
Some of the possible route of doing so are:
1. Gather critical data only that’s required for a particular business,
2. Take prior permission from customers about how an organisation plans to use the data,
3. Data collection and analysis, when done in conjunction, it could yield rich dividend for personalisation,
4. Deep listening to customers’ issues, understanding their lifestage challenges and shun the temptation of making false promises.
I know my suggestions might sound prescriptive, but purity of purpose can help use the two critical elements of business/ marketing synergistically.