John Lynch, a Distinguished Professor at the University of Colorado, and JP Dube, a Professor at the University of Chicago, explore the nuanced impacts of privacy regulations on consumer marketing. They discuss critical compromises in data restrictions, misconceptions about personalized advertising, and the striking difference between consumers' stated versus revealed privacy preferences. The duo also highlights the potential benefits of personalized ads and emphasizes the lessons the GDPR offers for U.S. policymakers, showcasing the intricate balance between privacy and market innovation.
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Privacy Regulation Trade-offs
Privacy data restrictions involve trade-offs between customer benefits and data usage.
These trade-offs impact personalization, search costs, innovation, and market competition.
insights INSIGHT
Impact on DTC and App Categories
Personalized digital advertising enabled the Direct-to-Consumer (DTC) and mobile app categories.
Inhibiting personalized targeting harms these categories disproportionately.
insights INSIGHT
Regulators' Misconceptions
Regulators often view marketing as zero-sum and rely on crude surveys.
These surveys fail to differentiate between data uses, leading to miscalibrated privacy debates.
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Why the Future of Business Is Selling Less of More
Chris Anderson
In 'The Long Tail,' Chris Anderson argues that the internet has enabled businesses to profit from selling a large number of unique items, each in small quantities, rather than focusing solely on bestsellers. The book highlights how companies like Amazon, Google, and Netflix capitalize on this strategy by offering a vast array of products that cater to niche markets. Anderson discusses the three forces driving the long tail: democratization of tools of production, democratization of distribution, and connection between supply and demand. He also explores the impact of this phenomenon on various industries, including music, movies, and books, and how it has led to the rise of new tastemakers and consumer-driven markets[2][3][4].
My guests on this week's episode of the podcast are John Lynch and JP Dube. John is the University of Colorado Distinguished Professor at the Leeds School of Business, University of Colorado-Boulder, and JP is the James M. Kilts Distinguished Service Professor of Marketing at the University of Chicago Booth School of Business.
The various compromises that are inherent in instituting privacy-related data restrictions;
What regulators and government officials get wrong about personalized advertising;
The difference between consumers' stated and revealed privacy preferences;
The benefits to consumers of privacy;
The potential win-win proposition of personalized advertising and price discrimination;
How the GDPR should be instructive for US policymakers.
Thanks to the sponsors of this week’s episode of the Mobile Dev Memo podcast:
INCRMNTAL. True attribution measures incrementality, always on.
Clarisights. Marketing analytics that makes it easy to get answers, iterate fast, and show the impact of your work. Go to clarisights.com/demo to try it out for free.
ContextSDK. ContextSDK uses over 200 smartphone signals to detect a user's real-world context, allowing apps to deliver perfectly timed push notifications and in-app offers.
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