There has been an influx of news and regulations surfacing lately – GDPR, the response to the Cambridge Analytica scandal, Facebook restrictions on Partner Categories, and YouTube third-party tracking restrictions, to name a few. We understand how important it is to stay abreast of this information as marketers.
GDPR is one of the older restrictions, but also the newest. The regulation passed by the EU in 2016 but will start being enforced on May 25, 2018. Its impact will be felt mainly in the EU, but since the regulations apply to EU citizens in the United States, there are plenty of U.S.-based companies preparing for the coming privacy shift.
Breaking down GDPR into something short and digestible, it essentially mandates that companies will not be allowed to target users unless the data they’re using has been acquired with the full consent of the user. Digiday explains the implications for Facebook: “Although Facebook is sitting on top of a trove of personal data, it will have to start offering a form of ad targeting that does not process these data points, unless it can get explicit consent.”
Knowing this, in addition to the news about the removal of Partner Categories within Facebook by October 2018, it’s more important than ever to build owned audiences and data sets as well as explore a media mix beyond the big players (Facebook and Google), such as within the Trade Desk, an industry leader in the space. The Trade Desk states: “the key takeaway is that the entire industry will need to adjust the way business is typically done – not a single brand or advertiser or DSP (demand-side platform) – which means that all companies involved will be working together to ensure that the entire space is compliant.”
The jury is still out on the effect that GDPR will have on scale and performance in the EU with both Facebook and other data companies, however we do know platforms and brands alike are making moves to be in compliance and transparent with their data.
We take data and privacy very seriously here at IMM. Our ad server, AdForm, is fully compliant and our DSP, the Trade Desk, is working toward full compliance with GDPR -- though pieces of the regulations are somewhat fuzzy and thus up for interpretation in some cases. We have also begun reaching out to existing partners to understand their approach to the news and plans for the future.