Gurugram, India – 25 September 2024 : As the Digital Personal Data Protection (DPDP)
Act of 2023 reshapes India's data landscape, KIT Global is helping businesses
adapt to new regulations by focusing on building first-party data strategies
that align with privacy-first principles. The company supports Indian
businesses in complying with stricter data laws while optimizing their digital
marketing efforts to stay competitive.
The DPDP Act
enforces stringent data privacy rules, placing limits on the use of third-party
data for targeted marketing. As businesses grapple with these changes, KIT
Global is stepping forward with innovative first-party data solutions through
its KIT Global platform that ensure compliance and enhance customer
relationships through personalized, transparent, and secure digital
experiences.
Transforming Compliance Challenges into
Opportunities
"The DPDP
Act is a significant shift for Indian businesses, especially those reliant on
third-party data for digital marketing. This regulatory change offers an
opportunity for companies to build deeper, trust-based customer relationships
by prioritizing first-party data collection," says Rahul Khurana, Country Manager of KIT Global India.
KIT Global's
expertise in first-party data solutions allows businesses to move away from
outdated third-party data reliance. The recently launched KIT
Global Platform empowers
companies to leverage customer data, ensuring greater control over privacy,
while delivering tailored digital marketing that drives higher return on
investment (ROI).
Innovative First-Party Data Strategies for Indian
Businesses
First-party data
solutions offer businesses a way to comply with the DPDP Act while optimizing
their marketing performance. By building transparent, privacy-compliant
customer data platforms, businesses can achieve:
●
Improved customer
insights
●
Enhanced
marketing personalization and customer loyalty
● Greater ROI and reduced costs associated with
data acquisition
KIT Global has
already implemented successful marketing strategies using first-party data for
leading brands across India’s e-commerce, banking, and other sectors.
The Rise of First-Party Data: Global and Local
Trends
Brands using
first-party data for marketing see a 2x
increase in revenue growth and a 1.5x
increase in cost savings compared to
companies still dependent on third-party data.
In India, the
stakes are even higher as businesses are compelled to adapt to new data regulations.
The digital advertising market in India
is expected to reach ₹50,000
crore ($6 billion) by 2025, but the DPDP Act will force an estimated 50-60% of businesses to overhaul their
data collection practices to
remain competitive.
Impact on India’s Marketing Landscape
Ensuring
organized and accurate data is essential for businesses, as many brands
struggle with inconsistencies and missing information in their CRM systems.
This underscores the need for a strong data foundation to effectively utilize
first-party data. KIT Global addresses this challenge by offering a
comprehensive Customer Data Platform, allowing clients to securely share their
business data.
KIT Global’s
solutions are not only addressing compliance but also transforming the Indian
marketing landscape. With 53%
of Indian consumers expressing concern over their data
privacy, businesses that adopt first-party data
strategies will have a competitive edge by gaining trust through transparent,
customer-centric marketing approaches.
ABOUT KIT GLOBAL
KIT Global operates globally with
strategic centers in Europe, Asia, and Latin America. KIT Global’s Two-Sided
Marketing Platform provides companies with access to a wide range of
performance marketing tools and audience engagement without additional costs.
The platform serves as a catalyst for cross-industry best practices and offers
tailored solutions to specific marketing challenges, accommodating budgets and
strategies at every level. With a diverse portfolio of over 34 marketing
products, KIT Global’s platform demonstrates its commitment to expanding
product offerings, ensuring that companies across all industries can access the
solutions they need. Connect with KIT Global by visiting https://kitglobal.in.
KIT Global Media Contact
Name -
Asher U’ren
Email -
a.uren@kit.global
Phone - +60 166 069 57
Website: https://kitglobal.in/
KIT Global Platform - https://kitglobal.in/platform/