What is a martech stack?Martech is the general term for the software solutions marketers use to reach their business goals. A martech stack is the specific combination of vendors used by a marketing department in their marketing efforts.
As of 2021, more than 9,500 martech solutions are available to industry professionals. Compare that to 2011, when there were only 150 different solutions on the market! Martech stacks include the tools businesses use to handle emails, automate social media, manage customer relationships, track analytics, and organize projects.
Martech falls into six categories:
- Advertising and promotion
- Commerce and sales
- Content and experience
- Data collection and analysis
- Project and workflow management
- Social and relationship management
Martech privacy: Is your stack compliant?Marketers are not only the brand champions of a business, but also the brand protectors. Not only can a data breach have devastating effects on an organization’s operations and reputation, but it can also uncover poor data privacy practices and potentially expose our organization to lawsuits. Thus, it’s essential that you thoroughly vet every martech solution before adding it to the brand’s stack. In fact, businesses can be fined for their vendors’ data privacy practices under certain circumstances.
How can you improve data privacy in marketing technology?
Audit existing and potential martech solutionsAre you aware of the customer data you share with every tool in your martech stack? Have you considered whether those partners share customer data with fourth and fifth parties?
- Clearly explain what information is collected and how businesses use it
- Allow customers to view data held by the company
- Modify or permanently delete data at the request of a customer
- Which martech solutions your business uses
- Whether all the tools you use are essential for your business
- What data you’re sharing with each partner
- Whether your martech solutions share customer data with fourth parties
- How data is stored and used by martech solutions and any fourth parties
- How your organization shares opt-in, opt-out, modification, and delete requests with your partners
Regularly confirm your martech stack’s compliance with data privacy lawsWe’re in the midst of the data privacy revolution. Laws are changing all the time, and it’s up to you to make sure your organization and the organizations you share data with adhere to those laws. To stay up to date after the initial audit, set regular check-ins to:
- Review the latest privacy legislation
- Evaluate new marketing initiatives for additional types of data collected
- Track martech privacy changes
Implement custom privacy solutions to secure customer dataNow that you understand how you’re sharing data with your martech solutions and their partners, you can enforce customized privacy solutions that enables compliance. You should tailor your privacy solutions to each customer, depending on their location, residency, and preferences.
Use Osano’s vendor risk monitoring to learn about your martech stackMonitoring your vendors and staying up-to-date with changing privacy laws can be a full-time job. If you’d rather spend your time connecting with current and potential clients, the team at Osano can help.
Osano’s attorneys monitor the privacy policies of more than 14,000 vendors to let you know who’s doing privacy well and who’s putting your company at risk. Our Vendor Risk Monitoring platform tracks changes, alerts you to risky vendors, and follows the data to discover risks introduced by fourth parties.
What happens when something goes wrong with a vendor after they’ve passed all your security checks? Would you know if your vendors were involved in a lawsuit? Osano’s Vendor Lawsuit Alerts functions like Google Alerts for the courtroom. We’ll let you know when one of your vendors is engaged in a lawsuit and will help you quantify the risk. These alerts will help you determine whether you need to change vendors long before receiving a shutdown notice from your martech solution.
Stay on top of your vendors with help from Osano. Sign up for a free 30-day trial to see how our Vendor Risk Monitoring and Vendor Lawsuit Alerts can make martech privacy a breeze.