Big Tech Could Be Required To Reveal Your Data
With ongoing scrutiny of how big tech handles user’s data, specifically Google and Facebook, new legislation was introduced this week which could require companies to face more transparency than ever. The task? To reveal specifically what personal data is collected from users, how it’s used and what it’s worth as it pertains to advertising.
The proposed Designing Accounting Safeguards to Help Broaden Oversight And Regulations on Data (DASHBOARD) Act, would require companies with over 100 million monthly active users to file an annual report assigning value with user data collected. The act would also require full disclosure with third party partnerships who benefited from this information for financial gain. As part of the pending regulations, the SEC would be responsible for developing the methodology for calculating value to data obtained that all companies would have to adhere.
While people around the globe access free services like Facebook and Google around the clock, most fail to realize that these companies cannot operate for free and use advertising to make a profit. While this may seem obvious, what they don’t understand is how these companies then leverage profile and behavioral data to help marketers narrow in on their target audience. The Dashboard Act also proposes users would receive their own report, potentially impacting online behavior and willingness to supply personal information.
As users are becoming increasingly aware of lack of privacy online, the bill would be an additional step to protect their personal information while increasing the bar for some of the largest data based advertising companies.
Amazon Prime the Target of Competing Sales
With Amazon Prime Day quickly approaching, what started out as Amazon’s day to shine, has quickly become one of the most competitive shopping times of the year among e-tailers. Due to the overwhelming success of the annual event, over 250+ online retailers are expected to offer comparable sales July 15th and 16th in direct competition. According to a recently released study by RetailMeNot, Amazon Prime Day sales are the official kick-off for fall shopping, including purchases for back-to-school making it a critical time for retailers to capitalize on the excitement. The desire to get a piece of the action is well warranted based on last year’s sale beating out both Cyber Monday and Black Friday.
Target, in particular, has taken direct aim at the retail giant in its promotional push to encourage shopping during “Target Deal Days.” The event is being promoted for the same days as the Amazon Prime sale, in hopes of cashing in on the massive audience. The press release announcing the event goes so far as to address its sale has “no membership required” to shop and save on thousands of products, a not so subtle reference at Amazon’s membership requirement to receive the extended discounts. In addition, Target is offering the additional 5% discount offered to Target Redcard carriers along with multiple delivery and pick-up options, including same-day delivery.
There’s no doubt the playing field has changed for retailers in July. With over $4 billion dollars in revenue at stake based on Amazon’s sales in 2018, the competition is sure to heat up. In order to be part of the game, marketers need to be proactive, strategic and creative. The good news for shoppers, retailers are clamoring for your dollars which could result in record savings.
Instagram Moving To A Shift In Focus
This week, Instagram publicly addressed the negative effects of the platform’s likes and how it hopes to implement changes to the experience. In what has been an ongoing conversation since April, Head of Instagram, Adam Mosseri, acknowledged the company is considering various changes including removing public access to the likes a post receives. The brand has not solidified a solution, but they are experimenting with ideas.The goal is to remove aspects that contribute to online bullying and narcissism, both of which can be detrimental to mental health and create a larger focus on community.
Instagram is also looking at other ways to make the site more focused on people connecting rather than competing. Another suggested idea is the implementation of warning notifications on comments deemed harmful or offensive. The alert would not restrict the comment from being sent, but would instead be an additional layer to remind users to be more mindful of what they are posting.
While nothing has officially been decided, the company is very aware of the impact the social platform has offline for users. Acknowledging the problem and working to create a solution, despite the possible initial impact to the bottom line, could in the end, increase platform usage and engagement in a more positive and less competitive space.