At the time of this writing, a hacker allegedly named “ChinaDan” offered to sell more than 23 Terabytes of data for 10 Bitcoins on a forum. It has been claimed that the Shanghai National Police (SHGA) database has been leaked and that a lot of data of about 1 billion users, including names, addresses, place of birth, national identification number, mobile phone number, all crime/case details records, is in danger. Chinese authorities have not yet made a statement, and this news remains an allegation for now. Nice, there are countless cases of data hacks that have already happened.

What is data-driven marketing?

Data-driven marketing is an approach to optimizing brand communication based on customer information. Data-driven marketers use customer data to predict their needs, wants, and future behavior. This type of information helps develop personalized marketing strategies for the highest possible return on investment (ROI).

Your personal data is more valuable than central bank currencies.

I think everyone has heard this phrase at least once. The majority agree on its correctness and they also find common ground. Despite all this consensus, it’s still easier to get hold of data than money.

I would like to explain this with an analogy. You have hired a security company to protect coal in a coal mine. You want to protect these precious coals from thieves and people with manipulative power, but every night you leave all your tools and equipment, which are more valuable than a coal mine, unattended. What we do today is very similar to this.

What Kind of Data is Collected?

Personal Contact Information, Social Security Number, Date of Birth, Driver’s License Number, IP Address, Credit Card Numbers, Bank Account Numbers, and Cookies.

All this data is just the tip of the iceberg and is presented to marketing professionals by companies like Meta and Amazon.

Although many companies have increased the importance given to data security with regulations such as GDPR (General Data Protection Regulation) — (CCPA), we know that it is not at a sufficient level.

Attention and Worry

As marketers, our goal is to capture users in the right way, in the right place, and at the right time. When we do all these things right, we can attract attention. The fuel we need to achieve all this is user data. Unfortunately, users are increasingly worried about sharing this data because of the bad experiences they have or the people around them.

As a result, the data you need is getting harder and harder to collect, store and process, and marketers are feeling really cornered.

What Awaits Us?

First of all, we need to radically change the way we view our users.

As our data processing ability has improved, we have started to focus more on data. We grouped users with data down to the smallest building blocks, in order to leverage the incredible benefits that microdata brings. This caused us to follow them better, but to lose the natural relationship between us.

Confidence is still the most important value when consumers make purchasing decisions. If a customer feels that you are not using their data honestly, let them know about their future if they want, it will still go to the business they trust.

We need to communicate with them more.

Remember to keep your way of working and your technological infrastructure resistant to possible destructive regulations!

Time to Convince the User

Focus on ownership of data that comes with the web3 trend.

The use of unethical methods by Third-party data provider companies to show their data packages as full due to the regulations in recent years is an example of how things are not going well there.

Prepare to receive data directly from the user, not from Third-parties. I recommend that you take a look at applications such as Fractal that work in this area.

In order to receive data from users, we must somehow negotiate with them.

What do they value? For what benefits do they share their data with you?

Small incentives are sufficient for young consumers to share their data such as email and phone numbers, while larger discounts or incentives are required to share this data as income and age increase.

A study can be made using the Delegated Proof Of Stake method in the Blockchain system. For example, you can offer a higher discount rate to a customer who holds more tokens per unit. You can take a customer of your company holding NFT to special groups and provide device warranty service during the period of locking their tokens.

Building Trust in 2 Steps 1- Feel free to share your data strategy with them! Generation Z feels closer to companies and people who are transparent. Transparently share with them how and why you collect and process data.

2- Make your technological infrastructure more secure. Generation Z is as knowledgeable and aware of the technical details as you do. They care about technological developments such as end-to-end encryption and use it as an element of trust.

With the use of zero-knowledge proofs in the following years, the new standard can be classified as applications/businesses that use zero-knowledge proof and those that do not. It seems worth investing in new areas.

The internet is changing rapidly and it is necessary to implement your moves in advance to keep up with it.

You can find companies and teams that produce experimental products in the blockchain space. By interacting with them, you are closer than ever to the opportunity to make your business a polar star in the future.

Join the decentralized world, we will be waiting for you.