When it comes to the digital industry, trust is a must. Put simply, no good digital strategy can exist without the trust of the audience in mind. As pressure piles for more privacy and regulation in the industry, the second Digital Trust Forum hosted by IAB was on May 26th and it came at the perfect time. With speakers like Facebook, Google and TikTok offering plenty to chew over, read on for 5 key takeaways from the event:
- Privacy & personalisation aren’t mutually exclusive.
This just got personal.
Personalisation and privacy may not seem like natural bedfellows, but the Forum stressed how both can co-exist in harmony. Facebook’s Kay Perry says that consumers have an appetite for both personal data protection and ads tailored to them. Striking this balance might seem difficult on paper, but Google’s Matt Bush suggests this could become a reality, with machine learning innovations that could target “anonymous, aggregated groups”. Get used to mentioning personalisation and privacy in the same breath.
2. Agility = Opportunity
Adapt to thrive.
With the long-lasting effects of a pandemic and new User ID solutions, change is in the air. Advertisers must get with the times, or risk being left behind by this fast-moving industry. But as with any change, this moment breeds plenty of new opportunities. Amazon Advertising’s Paul Hackwell says that those brands that reacted quickly to the demands of customers in the moment can build the strongest customer relationships. It’s time to think outside of the box.
3. Education is key to workable solutions
Education, education, education.
The more that consumers know about how their data is being used, the better. Bush declares that advertisers and publishers can play a key role in convincing consumers about the value of personalised advertising. If the data behind digital advertising ever felt like a grey area, advertisers can provide much needed clarity.
4. Companies are driving change individually
Individual companies take the lead.
All bright ideas start with a bit of initiative. The IAB Digital Trust Forum details how individual companies have taken steps to rebuild faith with their potential customers. For example, The Telegraph’s Anthony Crooker and Samara Hocihara shows how the publisher is trying to align brands with more highly engaged environments. In both cases, building a strong customer bond is the end-goal.
5. Collaborations remains essential
On the flipside, the IAB Digital Trust Forum shows how collaboration within the industry is the best way of creating meaningful change within the industry. A great example of this is The Transparency Center, introduced by Jill Wittkopp and Shailley Singh. Launching this summer, it aims to bring all data points from across the supply chain in one place. With Facebook and TikTok also voicing their support for more collab, it has never been a better time for the digital industry to join forces.