When I read Learning from Petrol Stations to Increase your Digital Revenue, it got me thinking about the good old days when petrol stations only sold leaded fuel, and maybe a newspaper if you were lucky.
To say the forecourt experience has changed would be huge understatement, opportunities are wide open for retailers to make coffee, dinner, wine, flowers and chocolates available to those of us who want them, simply because they know so much about us.
How do we feel about today’s highly competitive forecourt market taking advantage of our data and powerful marketing and analytics platforms in a quest to understand and influence our buying behavior?
On the basis of trust that my private data remains so from those I don’t choose to share it with, I feel pretty good about it. We’re all loyal to brands we trust and we’re increasingly likely to share personal information in exchange for convenient services with those we do.
There is much value in forecourt customers beyond the core business of selling fuel. In reality, we customers value time as much as our rights to privacy. As iadbox’s John Roberts says, there are ways to monetise our digitial lifestyles by offering a broader range of products and services that can be conveniently consumed on site. 2040 and electric cars anyone?
Our information is all there in loyalty schemes rich in personal, payment and location detail, the challenge for retailers is to analyze and monetise but also stay ahead of evolving privacy threats and data protection regulations.
The General Data Protection Regulation (GDPR) – which obliges organisations to have customer consent to capture, store and process any data that might be identifiable – can be considered an opportunity for privacy savvy forecourt retailers and consumers.
What seems like a potential burden – all data processing and profiling for targeted marketing and loyalty campaigns depends upon customer permission – actually provides an opportunity for organizations with privacy as a brand value, to improve information governance and more confidently embrace third-party, cross-border and cloud based services that drive long-term increased engagement.
So how do forecourt brands continue to compliantly upsell desirable products and services to customers without infringing data privacy rights?
The GDPR supports transformative use of personal information by offering pseudonymisation as a means to protecting identity during data processing. According to the International Association of Privacy Professionals (IAPP), de-identifying personal information in this way, “may facilitate processing personal data beyond original collection purposes.”
With fit for purpose data protection tools, insights-led retailers can ensure compliance with regulations and privacy expectations, without compromising trusted brand values or their ability to use personal information to offer better services.
This means that as a consumer my digital experience is enhanced without reason to doubt that my trust is well placed, while customer-centric forecourt retailers experience growth as a result of my loyalty and effective use of the insights my data affords.
By protecting customer identity it’s possible to gain a competitive edge so forecourt retailers need to take steps to protect the identifiable information we’re creating, not just to ensure compliance but also to ensure trust.
Data-driven forecourt retailers are using our data-centric pseudonymisation solutions to confidently overcome GDPR related privacy and consent challenges and enable digital transformation through the kinds of insight shown in this forecourt data infographic.
Get in touch today to know more about how your brand can more securely monetise valuable customer data.