According to Business Directory, piggyback marketing is defined as:
“A low cost market entry strategy in which two or more firms represent one another’s complementary (but non-competing) products in their respective markets.”
Companies have engaged in piggyback marketing for a long time, and more recently, online piggyback marketing (also known as tag redirects, daisy chains, hops and/or cookie synching) has been effective for brands sharing each other’s digital content to help increase traffic and brand awareness.
Historically, marketing firms faced a challenge with online advertising, as they could be limited by domain-specific cookies, which restrict their ability to collect information and display relevant ads to website visitors. These restrictions drastically reduce the potential audience companies are trying to reach. In an effort to overcome these restrictions (and drive more revenue), marketing firms have developed online piggybacking methods to reach a broader audience by exchanging data across different platforms and sites. The classic case of piggybacking occurs when you’re visiting an e-commerce site and add an item to your shopping cart; when you later browse a different site, you may see an ad for that item you put in your cart on the first site.
There’s no one-size-fits all solution to global data privacy; implementing a static solution will lead to lower conversions and financial penalties for noncompliance that could be otherwise avoided by leveraging technologies to take the kind of dynamic approach needed to comply with global regulations as they continue to be enacted, implemented and modified.
Clym believes in striking a balance between legal compliance and business needs, which is why we provide a cost-effective, scalable and flexible platform to comply with LGPD, GDPR, CCPA and other laws, including those in the UK, as they come online. Our platform provides consumers with an effective and easy-to-navigate way to opt-out of data collection while not infringing upon the website UI that businesses rely on to drive revenues.
Contact us today about how your company can implement Clym to help manage your data privacy regulation compliance from a global perspective.