To win back consumer trust, marketers must be transparent in their practices

New Ideas in MarketingEssential news for marketers, summarised by YouGov
October 11, 2019, 12:28 PM UTC

This involves refraining from selling, sharing and buying user data.

This article provides that only 3% of people trust marketing and advertising, this trust is plummeting fastest among millennials. Martech is leading a belief that amassing consumer data, irrespective of its actual value or the consumer’s best interests will lead to a “magic growth formula.”

Gathering data in the hope of saving a business instead of focusing on fundamentals has led to “lazy marketing”, decline in consumer trust and a surge in expensive martech solutions. Further, public awareness about surveillance is improving and the press is paying more attention to business and advertising practices.

Therefore, marketers should collect and protect consumer data that reciprocates equal or greater value to the customer. They should refrain from selling, sharing and buying user data, and be transparent in their marketing practices.

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