As a martech enthusiast, when I look at the bunch of personalization tools out in the market – it sometimes makes me wonder in excitement. The excitement isn’t because of the number of tools (currently the list of martech vendors is close to 12,000), but more so because both privacy regulations and personalization tools are on the rise.
Personalization goes hand in hand with customer trust. When a customer trusts you with information, it’s our imperative to honor that trust. So, in many ways personalization comes at a cost. I mean not just at the cost of customer trust but also in terms of making it a critical business decision because there is a cost to holding a customer’s personally identifiable information. Talking to some of my friends in the martech domain, I often hear them say that sometimes the cost to hold personally identifiable information outweighs the benefits of having it.
And on another note, most B2B companies don’t have the luxury of sizeable data within their ecosystem to use for personalization. Regardless of whether you do traditional outbound marketing, inbound marketing or account-based marketing (ABM), you have to acquire some amount of data from an external source.
What are the sources? And how can we use them to balance personalization and privacy? And that’s exactly what this article is all about.
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