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New in Marketing
CMOs Using Social Data to Flex Their Muscle
Robert Berkman
CMOs are very involved in leveraging social media, which may be expanding that function’s strength.
The Myth About Viral Marketing
Michael Fitzgerald
Viral marketing is an appealing idea, but it doesn’t describe how online adoption usually happens.
Communicating Corporate Social Responsibility to a Cynical Public
Laura Illia et al.
Unless companies communicate their CSR achievements wisely, they risk being accused of greenwashing.
Sponsored Download
SAS brings you a free MIT Sloan Management Review preview article on how technology is changing the retail landscape.
Competing in the Age of Omnichannel Retailing
Recent technology advances in mobile computing and augmented reality are blurring the boundaries between traditional and Internet retailing, enabling retailers to interact with consumers through multiple touch points and expose them to a rich blend of offline sensory information and online content. Retailers and their supply-chain partners will need to rethink their competitive strategies.
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Consumer Privacy
Why Managing Consumer Privacy Can Be an Opportunity
March 19, 2013 | Avi Goldfarb and Catherine Tucker
How many privacy policy updates does your credit card company send you each year? How many of them do you read through — and how many get immediately trashed? Companies often “manage privacy” and “keep consumers informed” by drafting their privacy policies as broadly as possible and consider their job done if they change the policy 10 times a year to fit with changing practices within the company.
However, there is a difference between informing consumers and respecting them.
Managing privacy should not be seen by businesses as a burden. Instead, it can be a valuable way to generate and maintain a good relationship with your customers. Companies should view the establishment of a framework of consumer privacy controls as a key marketing and strategic variable that conveys considerable benefits.
There are three strategies that companies can follow to transform touch points around privacy into a positive customer experience:
- Develop user-centric privacy controls to give customers control.
- Avoid multiple intrusions.
- Prevent human intrusion by using automation wherever possible.
As an ancillary benefit, organizations will be better able to leverage the better-targeted products and services enabled by customer data if their customers will welcome, rather than fear, such innovations. However, this will only happen if companies shift from thinking about privacy as a compliance burden to thinking of treating data with courtesy as a fundamental part of the relationship with their customers. Privacy policies should be organized around managing customer data courteously, in accordance with consistent principles that customers feel comfortable with.
Digital Marketing
Twitter, Facebook, websites and online communities are all important venues for today’s marketers. Read these recent research articles from MIT Sloan Management Review to gain new insights about digital marketing.
How to Create Brand Engagement on Facebook
Arvind Malhotra et al.
What determines whether consumers will “like,” comment on or share a company’s Facebook posts?
Increasing the ROI of Social Media Marketing
V. Kumar and Rohan Mirchandani
Using a seven-step process, an ice cream retailer substantially improved its social media marketing.
What Matters Most in Internet Retailing
David R. Bell et al.
Though online retailers have unlimited trading areas, they must learn where to best find customers.
How to Get Your Messages Retweeted
Arvind Malhotra et al.
What increases the chance of “retweeting,” so company tweets are shared with recipients’ networks?
The Perils of Social Coupon Campaigns
V. Kumar and Bharath Rajan
To gain from social coupons, businesses should craft deals carefully — without giving too much away.
Enhancing Relationships With Customers Through Online Brand Communities
Mavis T. Adjei et al.
To improve online brand communities, companies need to enhance customer-to-customer communication.
