Brands and Agencies Struggle to Create a Privacy-Compliant Culture: InMobi Report
The need to comply with data privacy regulations is a top challenge for 83% of organizations and the top driver of adoption of consumer data practices
InMobi, a leading provider of content, monetization and marketing technologies that help businesses fuel their growth, today released the results of a study commissioned by Forrester Consulting on “The future of mobile advertising in the fight against data and identity depreciation. » Marketers face significant challenges as they navigate the volatile world of mobile advertising while adhering to new regulatory frameworks due to differing privacy practices. This study was commissioned to understand their readiness, explore key areas of concern, and identify ongoing initiatives to address them, in the Indian market. Respondents to the study included directors, C-level executives, vice presidents, and senior executives from brands, media agencies, and app owners.
The study revealed that three out of five Indian companies are still trying to identify and understand the impact of evolving consumer data privacy on their current mobile marketing strategy. The study report also reveals that 85% of respondents (including business decision makers) in India rate increasing reach and conversion to improve profitability as one of the most critical marketing priorities. This is also related to privacy challenges where 87% of respondents identified the inability to act on buyer and customer data as a key marketing challenge.
On the report’s findings, Rishi Bedi, Managing Director for Asia-Pacific at InMobi, said: “Despite the growing movement regarding government regulations, the Indian advertising ecosystem is not conducive to data and identity deprecation and companies have a long way to go before they can optimize their profitability. It is now important for the advertising industry to focus beyond traditional targeting methods such as third-party cookies, to pave the way for success with new identity solutions and contextual targeting. Advertisers should take a privacy-first approach, proactively think about how to protect customer privacy, and aim to create a culture of privacy within their organizations.”
The InMobi report highlights that in light of consumer data privacy practices, as brands grapple with the lack of reliable ecosystem partners to collect first-party data, publishers fight organizational silos lack of visibility around privacy regulations and one difficulty consolidating data. A common challenge for all organizations is the lack of executive support for a data stewardship and governance program. Such a program would determine how data is accessed, stored, shared, processed and used for analytics.
As organizations begin to experiment with other targeting approaches, the study shows that 78% of respondents use contextual advertising to send personalized messages to consumers based on demographics, preferences and in-app behaviors. 80% companies in India already acquires consented third party data and 78% of companies create first-party data as alternative data sources.
To know more about The future of mobile advertising in the fight against data and identity deprecation, India 2022 report, visit https://go.inmobi.com/tackling-identity-with-mobile-2022-apac/ or contact [email protected]
Tackling Identity with Mobile 2022 – India
InMobi is the leading provider of content, monetization and marketing technologies that help fuel the growth of industries around the world. The company’s end-to-end adware platform, connected content, and commerce experiences aim to activate audiences, create real connections, and diversify revenue for businesses worldwide. With deep expertise and unique reach in the mobile space, InMobi is a reliable and transparent technology partner for marketers, content creators and businesses of all kinds. Headquartered in Singapore, InMobi maintains a large presence in San Francisco, London and Bangalore and has operations in New York, Chicago, Kansas City, Los Angeles, Delhi, Mumbai, Beijing, Shanghai, Jakarta, Manila, Kuala Lumpur, Sydney, Melbourne , Seoul, Tokyo and Dubai. To learn more, visit inmobi.com.