Data regulation key to marketing innovation

Data regulation key to marketing innovation 670 446 C-Suite Network
Steve Lok, head of marketing tech & ops, The Economist.
Steve Lok, head of marketing tech & ops, The Economist.

Data regulation is going to be key to marketing innovation, said Steve Lok, head of marketing technology and ops at The Economist.

Speaking at ADMA Data Day 2018 in Sydney, Lok said general data protection regulation is happening all over the world. But instead of it being an issue, he saw it as an instigator of innovation.

“This data regulation is a necessary correction in the bubble marketers operate within,” Lok said. “People are starting to understand they own their own data, and this will come to a head. It’s only a matter of time before there is a big class action lawsuit in this space.

“Marketing has been collecting and using personal data for years, and this regulation means marketers are going to have to re-invent the wheel. But this is a good thing, not only because it will mean people start to trust marketing again, but also because constraint is also one of the best initiators of innovation. Human beings love to adapt, so watch this space over the next 12-18 months.”

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