Idea #7: Consumer Opt-in for Data Sharing
This is the second time I’ve written this post. The first time, I started to go into a huge explanation so that everyone could understand this idea before realizing that anyone who didn’t already understand the issues had a 0% chance of caring about the idea anyway. So if you don’t know what I’m talking about, then this post is not for you.
With all the hype/concern/backlash/misinformation-fueled legislation in the world around cookies and their use in the browser, I think it’s only a matter of time before analytics and ad tech are going to have to figure out a non-cookie dependent solution for measuring web usage and delivering relevant ads to interested consumers.
It’s really a value proposition problem. The consumer doesn’t see the value of sharing data, and rather than showing them the value, corporations have essentially tried to figure out ways to collect the consumer’s data anyway, just without letting them know about it.
So here’s the straightforward and transparent plan:
- Convince a group of consumers to maintain a profile with accurate demographic & behavioral information
- Have the group create a list of things/categories they’re interested in seeing ads/offers for
- Find a group of product makers who will divert some of their ridiculous marketing budgets into discounts
- Play matchmaker between the interested consumers and the products being offered by product makers
- Sell the product to the interested consumer at a discount
The consumer gets a great deal on the thing they already want/need. The product maker sells the thing that they wanted to sell to an interested person and didn’t waste money telling 1M people at $10CPM that didn’t care about the thing they were selling. An ongoing relationship is formed between the consumer and the product maker that provides value to both parties.
As long as the consumer remains interested in the category (as determined by their up to date profile), the product maker is free to continue to make offers to the consumer at the same discounted rate or normal pricing. There would obviously be a pricing strategy – which I know nothing about – that would determine their ultimate offers to repeat customers.
Everyone makes informed decisions, no one is tricked, and no regulated/illegal cookies are involved in the mutually beneficial transaction.