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The Future of Data for the Modern Marketer

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6th November 2023 in

The last five years have brought enormous changes to the way marketers collect, process and use data. With the upcoming Privacy Act reform, getting on top of your customer data has never been more important. Dan Richardson, Yahoo’s Director of Data & Insights (AUSEA), shares what you should be looking out for in the next few months and how to prepare.


Preparing for the Australian Privacy Act Review

The impending amendments to the Australian Privacy Act signal a heightened focus on data protection and consumer rights. Driven by global data security concerns and the need for transparency, these changes pose new challenges for marketers in terms of data collection and usage compliance.

Key proposed changes include:

  • Expanded Definition of Personal Data. Now includes technical data like IP addresses and device identifiers.
  • Objection to Data Collection. Individuals can object to data collection, requiring organisations to provide justifications for their practices.
  • Right of Erasure. People can request the deletion of their personal data across all storage, including backups.
  • Defining ‘High Risk Practices’. New definitions and regulations will be introduced for practices significantly impacting individual privacy.
  • Targeting and Trading Regulations. Stricter rules for direct marketing, specifically for targeting, trading, and the use of personal data.
  • Controllers vs Processors. Introduction of clear roles for entities handling personal data, aligning with the GDPR structure.
  • Mandatory Breach Reporting. Obligation for companies to report significant data breaches within a set timeframe.

To navigate this, marketers must ensure rigorous data handling practices, invest in continual staff training on data protection, and be transparent with consumers about how their data is collected and used. Proactivity and open communication are now more essential than ever.


Establish a Clear Value Exchange for User Data

Clearly articulating what users receive in exchange for their data gives your consumers a reason to trust you. The strategy is simple: when you ask for something, offer something in return. When businesses adopt this transparent approach, they not only align with regulatory standards but also foster a healthier, more trusting relationship with their users.

Examples of value exchanges include:

  • Exclusive Content. Offering articles, videos, webinars, or other content pieces that are available only to registered users.
  • Special Offers or Discounts. Rewarding users who share their data with discounts or exclusive deals can be a compelling incentive.
  • Access to Competitions or Giveaways. Engaging users with the opportunity to win something can motivate them to share more.
  • Personalised User Experience. Using the collected data to tailor user experiences, making their interaction with your platform more relevant and engaging.

Ensuring a clear value exchange strengthens trust and positions your brand as user-centric and responsible.


Data Maturity Index

In his presentation, Richardson introduced us to the Data Maturity Index. The index helps brands identify where they are on their data usage journey and runs from Level 1, minimally invested in data, to Level 4, getting the most out of consumer and industry data.

The levels are:

  1. Data Aware. The foundational stage where basic data collection takes place in platforms like Google Analytics. This data is not yet being used for strategic decision-making.
  2. Data Connected. Third-party data (such as Meta ad targeting data) is used to reach the right audiences and enhance the effectiveness of advertising.
  3. Data Collaborative. An advanced level of data maturity where first-party data is combined with third-party data for highly accurate and effective consumer targeting.
  4. Data Driven. Complete integration of data and strategy, with a focus on personalisation and efficiency. Data security at this level is extremely high.

Understanding where your brand sits allows you to identify which opportunities to pursue and helps you avoid getting overwhelmed by technical nuances. 

If you found these insights valuable and want to be at the forefront of Australia’s data transformation, subscribe to our newsletter. It’s a seamless way to stay informed and you’ll the first to know when tickets are released for our future events. Unsubscribe any time. 

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