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Discovery Commerce: personalisation for the holiday season
July 1, 2021
People have infinite choice – but they increasingly expect messages from brands which are personal to them. Consumers want control over what they watch, read, interact with and buy. There are over 4.5 billion active internet users today – and it’s doubtful that there are two people who care about the same things. Simply put, more and more audiences want experiences tailored to their tastes, in the formats they prefer.
Personalisation and privacy are often presented as two concepts at odds with one another. But, in reality, that isn’t the case. Instead, leading businesses must innovate their data practices now to meet people’s expectations around both relevance and privacy. There’s a growing need for first-party data amid an evolving privacy-focused digital ecosystem: Such as the demise of third-party cookies and consumers having to “opt-in” the sharing of information with app developers.
These evolutions have wide-reaching implications for businesses. To better provide transparency and control, companies must give people the visibility and ability to change how their data is used, use tools that reflect people’s privacy choices, and source data in new ways that creates value across the consumer journey.
We know that personalised advertising is effective. It brings value to people by connecting them to products and experiences they love. In fact, 91% of consumers have said they are more likely to shop with brands who recognise, remember and provide them with relevant offers and recommendations.
But while people benefit from personal experiences, they also want more privacy and their personal data protected. They increasingly expect the industry to provide transparency and choice into data use, and to respect those choices. The overwhelming majority (97%) of consumers have stated that they are at least somewhat concerned about protecting their personal data.
If businesses can’t evolve to meet this moment, people may face a digital world dominated once again by less personalised and potentially disruptive ads. Not only does this create a poor experience for people, it increases costs for advertisers. Personalised advertising is key – but it need not be at odds with people’s privacy.
The balancing act
Most (87%) consumers believe it’s important to purchase from brands or retailers that understand “the real me." Those personalised experiences are powered by data, helping to provide the most relevant message at the right time across a customer’s journey to purchase.
And that data is generated whenever someone interacts with a business. By combining that deep customer knowledge with Facebook's real-time consumer behavioural data – gathered from liking, searching, and checking in – it’s possible to meld personalised experiences. Then, our machine learning takes it from there: Connecting what we know about people, with what you know about your customers, to get the right ad in front of the right person at the right time.
The most important action a business will take is to ensure responsible data-handling – making it easier to address future regulatory requirements. Together with Facebook, you can take steps to act with user privacy in mind – while maintaining performance of the digital advertising ecosystem.
To find out more about Discovery Commerce for the holiday season, visit our video hub where you can watch a range of videos from Facebook experts.