What if the company that is adding to your bottom line is actually slowly taking business away from you? If you run a business that’s been carefully collecting customer data to help deliver more personalized shopping experiences, make people happy with your high level of service and win their loyalty, watch out. If you’re not careful, your customer data could slip right through your fingers — and into the hands of other businesses that deliver your products and services to consumers.
Instacart, Favor, Amazon Prime Now: They all connect directly with customers, and that means they all have the opportunity to step in and collect the data those customers used to share with you instead. What does that mean for your business? For theirs? For your customers? This latest shift in data control has implications for all the parties in the picture. It’s in your interest to be aware of these implications to your Data Rights as you make strategic business decisions about everything from how you collect and use data in your company to how you do business with other companies.
Keep in mind that it’s not just retail businesses that are affected by this shift in who connects with consumers in the marketplace. For example, many people today…
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