Online advertising has taken a direct hit to the solar plexus with the current privacy debate sweeping digital marketing. Facebook is the obvious place to lay blame but the reasoning behind the decline in online behavioral advertising goes beyond whether or not you “Like” Mark Zuckerberg. The Ponemon Institute, a privacy research group, finds that marketers are 75% less likely to track a web user’s browsing habits for campaign targeting. Privacy and transparency have display advertisers running scared. This trend needs to change. It’s time to get proactive.
It’s not good enough to wish the privacy hysteria away. While it’s true that mass panics tend to quell over time, especially those involving Facebook, a passive approach shouldn’t be the first option. It’s like waiting for the three run homer in baseball. Sometimes you get one but it still means you had to get a few runners on base to make things happen. How should display advertisers go about their rally?
Don’t shy away from transparency, embrace it. Mapping out precise, explicit data detailing buyer intent ensures accuracy and establishes client trust. And though privacy advocates will continue making waves, technologically advanced user-metrics designed to target the right audience will alleviate any fears the general public may have. After all, they will be shown ads that interest them, which should ease the notion of privacy invasion.
The onus is on display advertisers to make clients and consumers understand the benefits of online behavioral tracking. There’s revenue to be made and customers to generate.