In our current digital age, consumer information is key to building and even perhaps maintaining a successful business. If you know where your customers gather, you know where to advertise. If you know how your customers buy, you know how to sell. Conversely, without understanding your customers’ habits, desires, and limitations, your outreach will be stunted and you’ll never reach your fullest potential.
With the new year comes new changes to privacy regulations and the amount of information readily accessible to you and your business. While privacy regulations can be beneficial to individuals, they can easily detriment you and your business, stripping you of consumer information you once held in the palm of your hand.
To unlock a new threshold of success for yourself and your business, you need to understand the Social Spice Media run-down of privacy regulations and digital marketing in 2022.
CONSUMERS REALLY WANT PRIVACY
Before examining when state and national privacy regulations may come and what they may look like for you and your business, it’s crucial to understand consumers’ desire for privacy. In 2021, over 80% of Americans, from across both sides of the aisle, said privacy should be a “top” or “important but lower” priority at the federal level.
Advents in data tracking from companies like Meta, Apple, and Google have consumers worried about their safety and security to the point that digital privacy is a monumental concern even during a pandemic. Regardless of when the government catches up with the wants of its people, the numbers are in: voters want to keep their data private.
Despite the connotations tech giants hold in the public eye, small business owners rely on them to supply their consumer data. Google Ads, Facebook Page Insights, Apple Search Ads and a plethora of other information-gathering resources are immensely helpful in the quest to propel your business forward.
But in order to understand the shifting tide of privacy regulations, it’s crucial to note that these tech giants aren’t necessarily looking out for you. If these companies make changes to their tracking or data distribution processes, it will be their sole interest to maximize profits while operating within the confines of the law.
THE LIKELIHOOD OF GOVERNMENT INTERVENTION
A series of privacy bills have already been introduced on the state level and seem to set the groundwork for national privacy laws to come in the immediate future. The Virginia Consumer Data Protection Act ratified in early 2021 grants consumers the right to “opt-out of the processing of personal data for the purposes of targeted advertising.” In 2021, 23 states proposed bills that mirror Virginia’s precedent, and in 2022, that number is sure to grow.
However, there are also a number of factors that hold back government interference. Though the Virginia bill will become a law and go into effect, the text of the bill explains it “has a delayed effective date of January 1, 2023.” This means even the state leading the charge for privacy will not see tangible change in consumer data until next year.
Moreover, other states face roadblocks that Virginia didn’t.
In Connecticut, state Senate majority leader Bob Duff introduced a privacy bill that was met with fierce opposition by corporate-funded lobbyists, who ensured the bill failed in both 2020 and 2021. In Oklahoma, a privacy bill was introduced which died without even receiving a hearing. Similar corporate influence is suspected.
While federal influence is intensely desired by voters and sure to come in the near future, it’s unlikely that the federal government will interfere with privacy regulations before the end of this year. A delayed effect on the Virginia bill as well as an overwhelming corporate litigation force means that 2022 will likely remain on the cusp of major privacy data changes rather than dipping over the edge.
THE NEXT STEPS FOR YOU AND YOUR BUSINESS
Though it may seem a scary time to involve yourself with the soon-changing world of digital privacy, the truth is that now more than ever is the time to familiarize yourself with and reap the benefits of the data available to you.
The Virginia privacy bill will come into effect on January 1, 2023, setting the standard for privacy regulations nationwide. This makes 2022 the year to take advantage of easily-accessible consumer information while you still can.
If you set your mind to learning, the information gathered this year can elevate your business not only beyond your own standards, but beyond the standards of your competitors, who will soon be faced with the same setback.
There are a number of ways to take charge and maximize consumer information retention this year. Google Ads are one of the many resources available to you and can provide you with powerful information about your consumer base including age, location, and spending habits.
The sign-up process to market your business and collect consumer information through Google is simple enough for even a novice to quickly master. In addition, Google charges for ad spending on a monthly basis, which means that even if privacy regulations change midway through the year, you can just stop paying for the service in advance of the change.
All information gathered now will inform your business well into the future regardless of the privacy changes to come.
If your data proves that one social media platform is more effective at conveying your message than another, you won’t need the exact data 2023 privacy regulations may soon obscure. This year could establish your direction in online marketing for the next five or even 10 years, jump-starting action that will lead to more success than you and your business have ever experienced.
Now is the time to take advantage of the data at your fingertips before imminent privacy regulations render that data inaccessible. The state-run swell of privacy regulation bills will build to an oncoming federal shift in the way consumer data is collected and distributed. This means that you’ve got to take charge of your consumer data while you can.
Whatever your comfort level with digital privatization may be, Social Spice Media will help you access the most important information your business can know. We will use consumer data to identify your most receptive audience, drive exponential growth, and embolden your brand. Whatever your spending budget, give us a call at (805) 482 – 8312 or send an email at info@socialspicemedia.com. Master the digital world at your fingertips and contact Social Spice Media today.
