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The growing regulatory scrutiny of digital advertising, and Google’s plan to kill off the third-party cookie in Chrome in 2022, is making chief marketing officers (CMOs) stop and rethink how they obtain and manage consumers’ data. In response to this, analyst firm Forrester has predicted that one in four CMOs will invest in consent and preference management tools over the next twelve months as they look for ways to ensure compliance while continuing to make the most of the data they gather.
Regulation is clearly a hot topic that’s forcing marketers’ hands. Digital media and marketing has largely been working on borrowed time, says Meredith Amdur, CEO of solutions provider Rhetorik Solutions, as governments draw up new legislation designed to strengthen data protection privacy. This is a global trend – Europe, California, Brazil and Thailand are just some of those with new privacy rules in place and many others will soon follow suit.