It is fascinating, the power man has bestowed on something as intangible as the internet, and the extent to which he lets it influence his life. Neuro-marketing, Behavioral marketing, tele-marketing, database marketing, personalized marketing and the list goes on. Marketing has evolved alongside technology from mere bill boards to almost a science which studies customer behavior. Every now and then comes a point in time when marketeers come up with a newer strategy, throw it out in the open to attract customers until someone gets hurt and then hastily come along a set of regulations to save the day!! It happened to print media, it happened yo Television media with cigarette ads.. and now its the turn of the "online environment"
Somethings are just easier said than done... It took a mess as big as the wiki leak for the FTC to step up and take a closer look at how information flows in the virtual world. How many of us truly take the time read a mere 300 lines 9 font sized document inconspicuously named "Terms and conditions" before giving out our personal information that we hold so dear?? Most of these so called 'sophisticated consumers' are not even aware of the ways in which their information can be used.
FTC's attempt at standing up for the consumers in commendable but whether it will be effective would all depend on how it is implemented. Extending the 'Do not call' concept to online marketing - 'Do not track' is promising, but the method that FTC proposes to implement this through an 'opt-out' mechanism is questionable. Implementing this mechanism would mean companies would have to spend on using cookies to store info of consumers who might as well decide not to opt to give their info later.
The other cornerstone of the recent report - "Affirmative express consent for material changes to existing privacy policies" requires companies to notify their customers every time there is material change in the way the company decides to use the data collected... Are consumers really that concerned as to what companies with the data they have already consented to disclose??! (other than financial institutions.. of course you don't want your bank messing with your checking acct!) Imagine all the extra effort and cost for companies to actually comply with these regulations!
A law which is not implemented is as good as not having one.. FTC is on the right track in trying to take the first step to regulate the cyber space. There is no way we re turning back to old ways of doing things.. The sooner we understand and learn to disciple ourselves in this future virtual world the better off mankind will be..!
