This was the LSA Live Talk on Consent Marketing
Zürcher Kantonalbank was one of the first Swiss financial institutions to use an opt-in cookie banner. The LSA Live Talk discussed the impact of the privacy-first approach on Zürcher Kantonalbank's marketing planning.
Consent marketing is a multi-layered topic that combines the revision of the Swiss Data Protection Ordinance, the end of third-party cookies, and the increased interest of consumers in data protection. These are all relevant topics that companies currently have to face. On the one hand, customers may, should or must give their consent to data processing and may feel disturbed by the Consent Banner; on the other hand, companies are afraid of data loss and thus the possibility of being able to optimize their marketing activities.
About a year ago, Zürcher Kantonalbank introduced an opt-in banner where cookie preferences have to be set in order to use the website. ZKB sees itself as a responsible partner that transparently shows its customers what happens with their data. Through marketing mix modeling, it was still possible to correctly classify the marketing success despite less measurable data. Through this statistical modeling, it is still possible to conduct data-based marketing and to identify new KPIs.
As part of the LSA Live Talk, Christof Zogg spoke with Tobias Zehnder and Boris Meier from Webrepublic and Alexandra Rahm from Zürcher Kantonalbank about the cantonal bank's privacy-first approach and how decisions can continue to be made on the existing data basis.
