Brands need to act now, and act fast, to build direct peer-to-peer connections with their audiences. That’s the critical message Tim Hayden, CEO of Brain+Trust and an expert in data collection and protection, shared as he discussed “Privacy and Profits” on this week’s episode of Happy Marketer Connection podcast.
As privacy concerns – and the legislation they have inspired – continue to grow, brands need to be more transparent and thoughtful about building consumer relationships that will ensure continued profits. Tim believes that it is essential for marketers to look beyond the open rates on email and performance media analytics to truly understand their audience and ensure that they are able to remain relevant and provide them with meaningful value.
Hear how companies use your consumer data, the paradox between privacy and personalization, how you can leverage data as a business, the impact of the CCPA, and why Tim believes marketers need to move quickly to build direct consumer connections.
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Episode Highlights
- Intro
- [0:16] Sue Frech, Happy Marketer Connection, Vesta
- [1:43] Tim Hayden, CEO (Chief Executive Officer) of Brain+Trust
- Sue Frech interviewing Tim Hayden on PRIVACY + PROFITS
- [2:42] Icebreaker: Why is Tim so involved in volunteer work?
- [2:51] LinkedIn
- [3:20] Chamber of Commerce, Meals on Wheels
- [3:47] Nonprofits
- [4:39] Movability
- [4:48] COVID-19
- [5:00] Working From Home (WFH)
- [5:45] How did Tim become an expert on privacy and profits?
- [6:17] Digital Marketing, Experiential Marketing, Mobile Marketing
- [6:35] Email, Social Media, Data
- [6:52] Marketing
- [7:03] Big Data
- [7:20] Customer Data
- [7:29] Why does Tim embrace data protection?
- [8:35] Predictive Modeling
- [9:03] What is a CDP (Customer Data Platform)?
- [9:22] Data Lakes, Engineers, IT (Information Technology)
- [10:04] Machine Learning
- [10:18] High Cardinality, Wearables, Connected Cars, Connected Homes
- [10:38] Data Privacy
- [10:45] API (Application Programming Interface), Marketing Automation, CRM (Customer Relationship Management)
- [11:27] What platform is the sneakiest in terms of collecting data?
- [11:55] Experian
- [12:03] Data Collection
- [12:35] Online Retailer
- [13:02] Facebook, Apple, Netflix, Google
- [13:42] Advertisers
- [13:58] Consumer
- [14:18] What positives have come out of data regulation?
- [16:03] eCommerce
- [16:52] Customer Experience (CX)
- [17:01] Customer Service
- [17:12] eTailer
- [17:15] What is the CCPA (California Consumer Privacy Act)?
- [17:45] General Data Protection Regulation (GDPR)
- [18:31] iOS 14, Third-Party Cookies
- [18:55] CIO (Chief Information Officer)
- [19:36] FCC (Federal Communications Commission)
- [20:22] Community powered marketing delivers a new world of sales growth. Learn more at Vesta-Go.com
- [20:46] What is Brain+Trust?
- [21:02] Technology
- [21:07] CMO (Chief Marketing Officer), Chief Communications Officer (CCO), COO (Chief Operating Officer)
- [21:41] Artificial Intelligence (AI)
- [22:05] Analytics
- [22:12] Primary Data
- [22:23] Privacy Compliance
- [22:52] Insights
- [23:33] Digital Transformation, Customer Journey
- [23:43] Consultants
- [24:24] What project is Brain+Trust and Vesta partnering on?
- [24:53] Community Management
- [25:46] Social Listening
- [26:08] Data Science
- [26:31] Customer Data Privacy
- [27:05] What is Ringer Sciences and The Next Practice?
- [27:22] Bob Pearson, Dell, Agency of Record (AOR)
- [28:22] Rocket Sauce Media Labs, Media Planning, Media Buying
- [28:34] Victory CTO
- [28:48] ChangeX, John McNeel
- [29:16] Data Governance
- [29:25] Equity, Holding Company
- [29:57] Thought Leadership
- [30:45] Future-Proof
- [30:54] What big changes should we expect in data collection?
- [31:08] Venmo, Cash App, Peer-to-Peer Payments (P2P)
- [31:28] Blockchain, Cryptocurrency
- [32:36] Digital Natives
- [33:31] Virtual Currency, Gamification
- [33:46] Twitter, Instagram
- [34:42] Open Rate
- [35:26] What positive story does Tim have to share?
- [36:24] Pandemic
- [38:01] Content
- [38:13] Remote School
- [38:26] Telecom (Telecommunications)
- [39:53] Commerce
- Outro
- [40:33] Connect with Tim at Partners, NextPracticeGroup.com, and on Twitter at @YourBrainTrust, @WhatsNext_TNP, and @TheTimHayden
- [41:48] Thank you for listening! Subscribe to Happy Marketing Connection on Apple Podcasts, Spotify, Google Podcasts, and more
- [41:56] Connect with Sue on LinkedIn or Twitter at @SueFrech, and Vesta-Go.com
- Theme Song: Hello (Extended Version) – Paul Werner – provided by Jamendo
About the Happy Marketer Connection Podcast
Tim Hayden, CEO, Brain + Trust
With more than 20 years of marketing and business leadership experience, Tim Hayden has been a founder of new ventures and a catalyst for transformational progress within some of the world’s largest brands. Part social anthropologist, part strategic business executive, Tim studies human behavior and how media and mobility are reshaping all of business. From operations to marketing and customer service, he assembles technology and communications initiatives that lead to efficiency and revenue growth.
Host: Sue Frech, Founder and CEO, Vesta
Sue has spent her career redefining digital marketing in brand and retail marketing, Martech, and advertising, at brands such as Kraft and Glaxo-SmithKline. She is committed to creating fellow Happy Marketers through Vesta’s all-in-one online community building software, transforming the relationships between brands and consumers with Community Powered Marketing.