Vericast continues to strengthen its privacy position to help brands ethically collect consumer-provided data and utilize it to build loyalty and long-lasting customer relationships. As part of its privacy strategy, Vericast has engaged Qonsent, one of the first data experience platforms with consent at its core, to help brands deliver more effective marketing campaigns, seamlessly navigate data privacy regulations, and safely build an audience of known consumers.
Through the engagement, Vericast will provide brands a fully integrated zero-party data capture and consent solution that seamlessly records, stores, and manages a brand’s consented data. Zero-party data is that which a customer intentionally and proactively shares with a brand. It also features real-time identity verification and maintains transparency with the consumer, from notice and disclosure to affirmative consent. Data collection can be implemented across mediums such as brand websites and programmatic advertising and seamlessly integrated into customer data marketing platforms such as Vericast’s NXTDRIVE™, among others.
For consumers, the integration provides a transparent means to understand how a brand plans to use their data and for how long. It features encrypted data and integrates client-defined data privacy legal disclosures, allowing consumers to determine if they want to share their personal information at the moment of consent. The technology also enables a value-exchange engagement, where consumers receive value such as a coupon or discount in exchange for data and future engagements.
Collection and use of consumer data is undergoing a major industry shift. By 2024, Gartner predicts that 75% of the global population will have its personal data covered under modern privacy regulations. According to Accenture, nearly half of consumers say they will switch brands if their trust is broken.
“Management of consumer-consented data is an important step in strengthening Vericast’s privacy strategy, helping brands protect consumer privacy and navigate changing regulations and requirements,” said Hans Fischmann, vice president, Digital Product at Vericast. “Zero-party data is the most accurate and valuable to capture. With opt-in data, brands can leverage information about preferences, purchase history and intent to enable relevant and personalized advertising while building brand loyalty.”
The basis of the relationship is Qonsent’s Smart Qontract technology, which allows businesses to maintain a record of qualified user consent in a compliant manner across applicable data-privacy laws. The platform combines transparency, compliance and security with Qonsent’s real-time ID Validation to provide an industry-first encrypted and auditable ledger-based system. It is designed for a wide range of industries such as retail and consumer packaged goods.
“Consumer trust is integral to loyalty and has a direct impact on the bottom line,” said Jesse Redniss, chief executive officer and co-founder of Qonsent. “The crux of our technology is offering consumers transparency and the ability to provide consent. Through this engagement with Vericast, we’re helping brands build trust and relationships with consumers and navigate the world of data privacy. In fact, with campaigns that clearly articulate the value exchange, data usage, and offer choice and control in a frictionless way, we are seeing opt-in rates as high as 90%.”
Today’s announcement builds upon Vericast’s privacy focus. The company recently announced a modern contextual advertising solution that helps marketers safely reach and influence the right people at the right time. Vericast’s Consumer Graph technology enables brands to use targeting to reach qualified audiences in compliance with applicable privacy laws.
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