Twenty years ago, the concept of a ‘data leader’ simply didn’t exist. Yet today, it has become a core function for many forward-thinking organisations.
With a series of industry bodies rolling out programmes to drive data best practices – last year, Singapore’s PDPC (Personal Data Protection Commission) launched its Trusted Data Sharing Framework, followed by its DPO Competency Framework and Training Roadmap – there is certainly a mounting case for executive teams across APAC to ensure they have their data in order.
Earlier this year, Singapore’s PDPC (Personal Data Protection Commission) launched its Trusted Data Sharing Framework, followed by its DPO Competency Framework and Training Roadmap.
These were aimed at providing guidance for Data Protection Officers as they embark on their new roles and focus on building a compliant yet compelling customer experience strategy. Elsewhere across APAC, we’ve seen the introduction of the IMDA’s voluntary Data Protection Trustmark, as well as an update to APEC’s Cross-Border Privacy Rules (CBPR).
And with the ACCC (Australian Competition & Consumer Commission) now warning that companies are collecting and selling on consumer data via customer loyalty schemes, it seems that data regulations are only set to become tighter.
As data becomes arguably the most valuable asset for businesses, the message is simple – the customer (and therefore customer privacy and customer experience) – must come first.
So what three steps can companies take to become true masters of their data while remaining conscientious and compliant?
Adopt a privacy-first data collection model
The entire customer experience strategy of any business should focus on gaining, but also retaining, customer trust.
But with today’s multi-channel marketing approaches, meaning various functions within an organisation will have influences over a customer, it’s crucial that everyone across the organisation is responsible for the integrity of data collection practices as a whole.
Not just the C-Suite or Sales & Marketing, but anyone and everyone who handles sensitive customer information.
Also read: The Startup’s guide to securely handling data amidst GDPR and other privacy regulations
Customers are no longer willing to offer up their details without being sure of the tangible benefits of doing so. Therefore, regardless of who in the company may be conversing with a customer, they need to be explicit about which details are being collected; why and how they are being collected; and who they are being shared with.
And while it’s the DPO or CDO that is responsible for spearheading this initiative, everybody across the organisation should be aware of the need for transparency, and be mindful of the overall message being conveyed.
Implement a centralised data repository
With so many disparate teams collecting or accessing a variety of customer data (from different channels, devices and systems), governing and harnessing that data can be almost impossible.
Consolidation of data is by no means a new concept, although with over a third of APAC marketers still struggling with channel integration, it’s time data and executive teams consider the ways in which they can finally bring these sources and channels together effectively.
Integrating a solution such as a CDP (Customer Data Platform) will help to provide a single source of truth for the entire organisation, laying the foundation for teams to connect the dots between data touchpoints along the customer journey, with the ultimate goal of enhancing the customer experience.
Becoming familiar with data unification technology now will also prepare data professionals for a potentially more stringent regulatory landscape over the coming years.
Focus on first-party data
Unlike a Data Management Platform or Customer Relationship Management software, it’s easy to integrate other systems with a CDP to tap into behavioural insight, which enables teams to keep building and updating that all-important customer profile.
Once such a solution has been integrated, it can be used to extract quality data from a number of online touchpoints such as websites, mobile apps, and customer service systems; as well as offline touchpoints such as beacons or IoT devices.
Also read: How can privacy-focussed apps step up amid a world of data breaches?
Creating persistent profiles that can be accessed by everyone allows teams to get smart with their messaging. Customers finally begin to receive consistent and highly personalised content as they proceed along their path to purchase, and no longer endure the frustration of being offered products or services they have already purchased.
In twenty years, data has evolved from a nagging consideration to indispensable asset. It’s now up to DPOs to lead the way in mastering their data, by building a robust data foundation, embracing legislation, and paving the way for unrivalled customer experience.
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