What is CCPA, and what are its implications for B2B marketing?
What is CCPA, and what are its implications for B2B marketing?
Blog Article
The California Consumer Privacy Act is a landmark legislation in privacy that grants California residents more control over their personal information. Starting next year in January 2020, the CCPA lays out strict rules concerning how businesses collect, use, and share personal data. Its reach extends farther than just consumer marketing and into B2B marketing strategies in a big way.
Understanding the CCPA
The CCPA tries to reinforce the rights to privacy and consumer protection for California residents. Salient points of the CCPA are recounted as under:
Data Access: It confers a right on the consumer to know what personal data is being collected about them and how they are used.
Data Deletion: The consumer may request a business to delete any personal information which the business may maintain about them.
Opt-Out Options:
Individuals can also opt out of selling their data to third parties.
These regulations pertain to B2B Database businesses that fulfill certain criteria in terms of, among other things, annual gross revenues in excess of $25 million or processing annual personal data of more than 50,000 consumers.
Implications for B2B Marketing
The impact of CCPA on B2B marketing is multifold and considerable in scope:
1. Data Transparency and Accountability
B2B companies have to be transparent in data collection. It means that one has to clearly state what data is collected, for what reason, and their usage also. If not followed, it may incur heavy fines and can harm a company's reputation also.
2. Changes in Lead Generation Strategies
Stricter regulations mean B2B marketers have to rethink their lead generation activities. More explicit consents are needed from prospective clients before information about them can be collected. Included herein is a more robust form of opting-in through websites and webinars.
3. Impact on Targeted Advertisement
The CCPA constrains how personal data can be used by businesses for targeted advertising. B2B marketers might have to adjust their strategies in terms of marketing to wide groups of audiences rather than relying on granular data to personalize the messages.