With an influx of news and regulations surfacing as of late – Cambridge Analytica, Facebook restrictions on Partner Categories, GDPR in the EU, YouTube 3P (third party) tracking restrictions, to name a few – I understand how important it is to not only stay abreast of this information personally but to also share information with my clients and serve as a guide as we begin navigating these new waters together.
Taking a particular look at GDPR. While the new regulations going into effect at the end of May do not legally impact the US in the immediate (however noting that regulations still apply to EU citizens in the US), there are plenty of companies within the states preparing for if and when it does. 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 to do so has been acquired via full consent by the user. The provided article further explains implications for Facebook as such: “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, it’s more important now 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 programmatic within The Trade Desk, an industry leader in the space. Per The Trade Desk’s official statement, “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 – 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 what we as advertisers do know is that providers and brands alike are making moves to be more compliant and transparent with their data.
All of the above being said, you and your partners should be taking data and privacy very seriously. Ask questions, reach out to your partners, and educate yourself so you and your company become ready for the changes to come.