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• A Guide to Bank Customer Segmentation

  18 juillet 2024, par Erin

  Banking customers are more diverse, complex, and demanding than ever. As a result, banks have to work harder to win their loyalty, with 75% saying they would switch to a bank that better fits their needs.

  The problem is banking customers’ demands are increasingly varied amid economic uncertainties, increased competition, and generational shifts.

  If banks want to retain their customers, they can’t treat them all the same. They need a bank customer segmentation strategy that allows them to reach specific customer groups and cater to their unique demands.

  What is customer segmentation ?

  Customer segmentation divides a customer base into distinct groups based on shared characteristics or behaviours.

  This allows companies to analyse the behaviours and needs of different customer groups. Banks can use these insights to target segments with relevant marketing throughout the customer cycle, e.g., new customers, inactive customers, loyal customers, etc.

  You combine data points from multiple segmentation categories to create a customer segment. The most common customer segmentation categories include :

  • Demographic segmentation
  • Website activity segmentation
  • Geographic segmentation
  • Purchase history segmentation
  • Product-based segmentation
  • Customer lifecycle segmentation
  • Technographic segmentation
  • Channel preference segmentation
  • Value-based segmentation

  

  By combining segmentation categories, you can create detailed customer segments. For example, high-value customers based in a particular market, using a specific product, and approaching the end of the lifecycle. This segment is ideal for customer retention campaigns, localised for their market and personalised to satisfy their needs.

  

  Matomo’s privacy-centric web analytics solution helps you capture data from the first visit. Unlike Google Analytics, Matomo doesn’t use data sampling (more on this later) or AI to fill in data gaps. You get 100% accurate data for reliable insights and customer segmentation.

  Try Matomo for Free

  Get the web insights you need, without compromising data accuracy.

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  Why is customer segmentation important for banks ?

  Customer segmentation allows you to address the needs of specific groups instead of treating all of your customers the same. This has never been more important amid a surge in bank switching, with three in four customers ready to switch to a provider that better suits their needs.

  Younger customers are the most likely to switch, with 19% of 18-24 year olds changing their primary bank in the past year (PDF).

  Customer expectations are changing, driven by economic uncertainties, declining trust in traditional banking, and the rise of fintech. Even as economic pressures lift, banks need to catch up with the demands of maturing millennials, Gen Z, and future generations of banking customers.

  Switching is the new normal, especially for tech-savvy customers encouraged by an expanding world of digital banking options.

  To retain customers, banks need to know them better and understand how their needs change over time. Customer retention provides the insights banks need to understand these needs at a granular level and the means to target specific customer groups with relevant messages.

  At its core, customer segmentation is essential to banks for two key reasons :

  • Customer retention : Holding on to customers for longer by satisfying their personal needs.
  • Customer lifetime value : Maximising ongoing customer revenue through retention, purchase frequency, cross-selling, and upselling.

  Here are some actionable bank customer segmentation strategies that can achieve these two objectives :

  Prevent switching with segment analysis

  Use customer segmentation to prevent them from switching to rivals by knowing what they want from you. Analyse customer needs and how they change throughout the lifecycle. Third-party data reveals general trends, but what do your customers want ?

  

  Use first-party customer data and segmentation to go beyond industry trends. Know exactly what your customers want from you and how to deliver targeted messages to each segment — e.g., first-time homebuyers vs. retirement planners.

  Keep customers active with segment targeting

  Target customer segments to keep customers engaged and motivated. Create ultra-relevant marketing messages and deliver them with precision to distinct customer segments. Nurture customer motivation by continuing to address their problems and aspirations.

  Improve the quality of services and products

  Knowing your customers’ needs in greater detail allows you to adapt your products and messages to cater to the most important segments. Customers switch banks because they feel their needs are better met elsewhere. Prevent this by implementing customer segmentation insights into product development and marketing.

  Personalise customer experiences by layering segments

  Layer segments to create ultra-specific target customer groups for personalised services and marketing campaigns. For example, top-spending customers are one of your most important segments, but there’s only so much you can do with this. However, you can divide this group into even narrower target audiences by layering multiple segments.

  For example, segmenting top-spending customers by product type can create more relevant messaging. You can also segment recent activity and pinpoint specific usage segments, such as those with a recent drop in transactions.

  Now, you have a three-layered segment of high-spending customers who use specific products less often and whom you can target with re-engagement campaigns.

  Maximise customer lifetime value

  Bringing all of this together, customer segmentation helps you maximise customer lifetime value in several ways :

  • Prevent switching
  • Enhance engagement and motivation
  • Re-engage customers
  • Cross-selling, upselling
  • Personalised customer loyalty incentives

  The longer you retain customers, the more you can learn about them, and the more effective your lifetime value campaigns will be.

  Balancing bank customer segmentation with privacy and marketing regulations

  Of course, customer segmentation uses a lot of data, which raises important legal and ethical questions. First, you need to comply with data and privacy regulations, such as GDPR and CCPA. Second, you also have to consider the privacy expectations of your customers, who are increasingly aware of privacy issues and rising security threats targeting financial service providers.

  If you aim to retain and maximise customer value, respecting their privacy and protecting their data are non-negotiables.

  Regulators are clamping down on finance

  Regulatory scrutiny towards the finance industry is intensifying, largely driven by the rise of fintech and the growing threat of cyber attacks. Not only was 2023 a record-breaking year for finance security breaches but several compromises of major US providers “exposed shortcomings in the current supervisory framework and have put considerable public pressure on banking authorities to reevaluate their supervisory and examination programs” (Deloitte).

  Banks face some of the strictest consumer protections and marketing regulations, but the digital age creates new threats.

  In 2022, the Consumer Financial Protection Bureau (CFPB) warned that digital marketers must comply with finance consumer protections when targeting audiences. CFPB Director Rohit Chopra said : “When Big Tech firms use sophisticated behavioural targeting techniques to market financial products, they must adhere to federal consumer financial protection laws.”

  This couldn’t be more relevant to customer segmentation and the tools banks use to conduct it.

  Customer data in the hands of agencies and big tech

  Banks should pay attention to the words of CFPB Director Rohit Chopra when partnering with marketing agencies and choosing analytics tools. Digital marketing agencies are rarely experts in financial regulations, and tech giants like Google don’t have the best track record for adhering to them.

  Google is constantly in the EU courts over its data use. In 2022, the EU ruled that the previous version of Google Analytics violated EU privacy regulations. Google Analytics 4 was promptly released but didn’t resolve all the issues.

  Meanwhile, any company that inadvertently misuses Google Analytics is legally responsible for its compliance with data regulations.

  Banks need a privacy-centric alternative to Google Analytics

  Google’s track record with data regulation compliance is a big issue, but it’s not the only one. Google Analytics uses data sampling, which Google defines as the “practice of analysing a subset of data to uncover meaningful information from a larger data set.”

  This means Google Analytics places thresholds on how much of your data it analyses — anything after that is calculated assumptions. We’ve explained why this is such a problem before, and GA4 relies on data sampling even more than the previous version.

  In short, banks should question whether they can trust Google with their customer data and whether they can trust Google Analytics to provide accurate data in the first place. And they do. 80% of financial marketers say they’re concerned about ad tech bias from major providers like Google and Meta.

  

  Matomo is the privacy-centric alternative to Google Analytics, giving you 100% data ownership and compliant web analytics. With no data sampling, Matomo provides 20-40% more data to help you make accurate, informed decisions. Get the data you need for customer segmentation without putting their data at risk.

  Try Matomo for Free

  Get the web insights you need, without compromising data accuracy.

  Start for free

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  Bank customer segmentation examples

  Now, let’s look at some customer segments you create and layer to target specific customer groups.

  Visit-based segmentation

  Visit segmentation filters audiences based on the pages they visit on your website and the behaviors they exhibit—for example, first-time visitors vs. returning visitors or landing page visitors vs. blog page visitors.

  If you look at HSBC’s website, you’ll see it is structured into several categories for key customer personas. One of its segments is international customers living in the US, so it has pages and resources expats, people working in the US, people studying in the US, etc. 

  

  By combining visit-based segmentation with ultra-relevant pages for specific target audiences, HSBC can track each group’s demand and interest and analyse their behaviours. It can determine which audiences are returning, which products they want, and which messages convert them.

  Demographic segmentation

  Demographic segmentation divides customers by attributes such as age, gender, and location. However, you can also combine these insights with other non-personal data to better understand specific audiences.

  For example, in Matomo, you can segment audiences based on the language of their browser, the country they’re visiting from, and other characteristics. So, in this case, HSBC could differentiate between visitors already residing in the US and those outside of the country looking for information on moving there.

  

  It could determine which countries they’re visiting, which languages to localise for, and which networks to run ultra-relevant social campaigns on.

  Interaction-based segmentation

  Interaction-based segmentation uses events and goals to segment users based on their actions on your website. For example, you can segment audiences who visit specific URLs, such as a loan application page, or those who don’t complete an action, such as failing to complete a form.

  

  With events and goals set up, you can track the actions visitors complete before making purchases. You can monitor topical interests, page visits, content interactions, and pathways toward conversions, which feed into their customer journey.

  From here, you can segment customers based on their path leading up to their first purchase, follow-up purchases, and other actions.

  Purchase-based segmentation

  Purchase-based segmentation allows you to analyse the customer behaviours related to their purchase history and spending habits. For example, you can track the journey of repeat customers or identify first-time buyers showing interest in other products/services.

  You can implement these insights into your cross-selling and upselling campaigns with relevant messages designed to increase retention and customer lifetime value.

  Get reliable website analytics for your bank customer segmentation needs

  With customers switching in greater numbers, banks need to prioritise customer retention and lifetime value. Customer segmentation allows you to target specific customer groups and address their unique needs — the perfect strategy to stop them from moving to another provider.

  Quality, accurate data is the key ingredient of an effective bank customer segmentation strategy. Don’t accept data sampling from Google Analytics or any other tool that limits the amount of your own data you can access. Choose a web analytics tool like Matamo that unlocks the full potential of your website analytics to get the most out of bank customer segmentation.

  Matomo is trusted by over 1 million websites globally, including many banks, for its accuracy, compliance, and reliability. Discover why financial institutions rely on Matomo to meet their web analytics needs.

  Start collecting the insights you need for granular, layered segmentation — without putting your bank customer data at risk. Request a demo of Matomo now.

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• Multi-Site Management (Quick-Start Guide)

  18 juillet 2024, par Erin

  Do you run multiple websites ?

  Or, you’re expanding from one to two sites ?

  Multi-site management isn’t an easy task.

  While there are dozens of reasons why you may need to operate several sites, like brick and mortar stores opening new locations in different regions, you need to ensure you’re following the right strategies so you remain successful.

  So, how do you actually manage multiple websites at the same time without spreading yourself thin ?

  Using a single dashboard.

  In this guide, we’ll cover everything you need to know about managing multiple sites in a single location at once so you can lead a successful digital strategy.

  What is multi-site management ?

  Multi-site management is the process of organising and operating multiple websites from a single location. It helps with congruent branding and improved productivity.

  Enterprise businesses that use multiple, language-specific versions of their site to target their audience in specific countries or regions can also benefit from managing their multiple sites from a single location. 

  

  By analysing a few websites at once, marketers and analysts can oversee a few different business websites without having to switch between multiple platforms and technologies.

  Whatever the reason is for managing multiple sites, multi-site management helps marketers and analysts establish a consistent brand presence, improve workflow efficiencies and scale operations.

  7 Benefits of multi-site management

  Multi-site management allows you to navigate and control a few websites all in one centralised location.

  

  Here are a few of the main benefits of multi-site management :

  1. Save time by reusing code between websites

  Saving time is the main benefit of multi-site management. Rather than managing websites from multiple platforms, logins and infrastructures, you can manage everything from one place.

  Multi-site management allows you to easily reuse core code, infrastructure and other digital assets from other sites all within one dashboard.

  So, when you need to update all of your websites, you can do it all at once in a fraction of the time.

  2. Improve productivity by having everything in one place

  How many tools do you currently use for your job on a daily basis ?

  Five ? Ten ?

  Now, imagine adding on another handful of tools, logins and technology for every site you manage.

  It’s a lot, especially if you’re managing dozens of logins, usernames and passwords.

  With multi-site management, you don’t need to have multiple login credentials. Everything’s all in one place and within one system.

  You don’t need to switch between multiple tools and platforms to get things done.

  The same strategy applies to your web analytics. If you want to streamline your productivity, make sure you’re tracking all of the data from your different websites in one place. Matomo lets you track multiple sites, domains and subdomains in one centralised location with the ‘All Websites’ dashboard which is a roll-up report. This is ideal for enterprises managing and analysing numerous sites.

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  3. Maintain brand image with consistent design across sites

  If you have multiple websites, subsidiaries or sister companies, it can take a great deal of effort to maintain branding consistency.

  But, if you’re leveraging a multi-site content management system, you can update your branding and design between all sites at the same time.

  If you need to make a change with your design, you don’t need to update each individual site with your new initiative. Instead, you can update multiple sites at once, allowing your visual branding to stay congruent, giving you uniformity in messaging.

  The result is an optimised user experience, which helps you increase trust with your audience, improve engagement and keep them coming back for years to come.

  4. Increase security through centralised management

  The greater your digital presence is, the more you can reach a wider range of people.

  But, there’s one downside : you expose yourself to more risk.

  Keeping multiple websites secure isn’t as easy to do if you’re leveraging dozens of different platforms and logins. 

  Instead, when you have all of your websites in one location, it can help you easily track every document. You can also control site versions for easy updates to prevent malicious attacks.

  5. Optimise scalability and flexibility

  If you plan on scaling your companies and digital presence, you need to ensure you’re able to do so without having to tear down your entire infrastructure or spend a ton of money upfront.

  For enterprise companies, multi-site management allows you to easily launch new regional sites as your company expands.

  Plus, if you have new product or marketing campaigns, you can simply add on microsites as needed by simply adding it to your current website lineup.

  This allows you to stay flexible in your marketing and growth strategies without adding extra risk or financial burden.

  6. Improve targeting and personalisation in marketing

  If you want to reach your audience better, but you’re managing multiple websites, it can be hard to not spread yourself too thin.

  But, if you’re managing a few websites in one place, it’s easier to track your audience’s interests, behaviour, wants and needs.

  By using a web analytics tool like Matomo to track the performance of multiple websites, you can see what’s resonating with your audience so you’re able to improve your targeting and offer personalised campaigns.

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  7. Streamline collaboration between team members

  Making your team juggle multiple platforms, websites and tools is a surefire way to give them a headache.

  Multi-site management is one of the best ways to bring your entire team into one centralised location so you can foster seamless collaboration without leaving your team confused or frustrated.

  By placing your entire website management in one place, markters, designers, developers, writers and other team members can collaborate effectively so you can get more done in less time.

  With multi-site management, you bring your entire team into a single location to work on your websites so you can speed up your content creation process, speed up problem solving and streamline communication.

  6 Best practices of multi-site management

  When you have multiple websites, you can expand your brand presence. But, one main problem arises : it becomes overwhelming for anyone managing them.

  Since each website comes with its own platform, login credentials and assets, it becomes incredibly difficult for developers, marketers and others to maintain the sites. And, if your sites aren’t looked after properly, you could end up with technical issues and branding inconsistencies, causing you to lose conversions and negatively impact the user experience.

  Thankfully, multi-site management can help you streamline your efforts, improve productivity and scale your business.

  But, before you dive into your multi-site management process, you need to ensure you implement the right strategy.

  

  Here are a few best practices to follow to succeed with multi-site management :

  1. Use a multi-site CMS

  If you want to manage multiple websites, you need to make sure you’re leveraging a CMS that offers multi-site management capabilities.

  A multi-site CMS allows you to make simple content, design or management changes simultaneously without having to switch between different systems.

  Here are a few examples of CMS’ that offer multi-site management :

  • WordPress
  • Sanity
  • Drupal

  2. Integrate a headless CMS

  One of the most versatile types of content management systems is what’s known as a “headless CMS.”

  This is a CMS that lets you disconnect the front end from the back end of your website management.

  Here are a few examples of headless (and open source) CMS’ :

  • Strapi
  • Directus
  • Ghost

  A headless CMS can help you add versatility in the way you present content across multiple sites. It uses an API to give you more flexibility so you can push content to websites as well as apps, etc.

  Using a headless CMS can help you improve page load times, website performance and user experience by simplifying your tech stack.

  3. Implement cross-domain and mult-isite Matomo analytics tracking

  If you want to track the website analytics data of multiple sites, you need to implement cross-domain tracking.

  The best way to do this is by leveraging a web analytics solution like Matomo. It lets you track the performance of multiple subdomains or websites.

  With Matomo, you get easy data grouping and data roll-up reporting for streamlined tracking.

  

  This means you can track the individual performance of each site or group them together to see the shared performance.

  4. Enable multiuser management

  If you’re working with different team members who need access to your CMS, then you should consider enabling multiuser management.

  This allows several people to work within your multi-site CMS and also gives you the ability to grant or restrict access to certain abilities within the platform.

  This is handy if you have a few different stakeholders working in your CMS.

  By enabling different user permissions and access, you can improve the security of your website and protect sensitive company information.

  5. Leverage composable content

  Creating a few different websites is a great way to increase your brand reach. But, it can be time-consuming having to continuously create and update content within multiple sites.

  That’s where composable content comes in.

  It allows you to create similar content between sites using pre-made “blocks.” Content blocks act as templates so you can quickly add similar content pieces to each site without having to start over from scratch each time.

  This speeds up productivity for your designers, writers and editors and keeps brand image consistent across different sites.

  6. Use version control

  What happens if you update all of your websites with a redesign, but it flops ?

  Well, rather than having to tear it all down and redesign your site infrastructure, you can leverage version control to restore your website to a previous version.

  Version control is especially handy when you’re managing multiple sites at once and you have multiple team members working in your CMS.

  Version control is also helpful if you’re A/B testing different content. By saving previous versions of your websites, you can run tests to help you optimise your web performance. 

  For example, if you use Matomo’s A/B testing feature to experiment with different landing page designs for a lead magnet, but find that your previous version performed better, you can simply restore your websites to a previous version in seconds.

  Track web analytics for multiple websites with Matomo

  If you’re looking to expand your digital presence, then creating new websites is one of the best ways to grow your brand.

  Multi-site management can help you save time, improve productivity and maintain a consistent brand image across your empire.

  One challenge of multi-site management is tracking the performance of your websites.

  That’s where Matomo has you covered.

  Matomo is a privacy-friendly web analytics tool that collects, stores, and tracks data across multiple websites and subdomains, allowing you to improve your performance. 

  With over 1 million websites using Matomo, you can rely on it for accurate data without sampling, ensuring compliance with privacy regulations like GDPR and CCPA. 

  Matomo is especially beneficial for enterprises. It offers advanced roll-up reporting, enabling you to see the performance of multiple websites in one centralised dashboard. This feature, along with heatmaps, session recordings, and A/B testing, provides deeper insights into your website performance.

  Discover how Matomo can transform your web analytics with a demo. Request your demo now.

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• OCPA, FDBR and TDPSA – What you need to know about the US’s new privacy laws

  22 juillet 2024, par Daniel Crough

  On July 1, 2024, new privacy laws took effect in Florida, Oregon, and Texas. People in these states now have more control over their personal data, signaling a shift in privacy policy in the United States. Here’s what you need to know about these laws and how privacy-focused analytics can help your business stay compliant.

  Consumer rights are front and centre across all three laws

  The Florida Digital Bill of Rights (FDBR), Oregon Consumer Privacy Act (OCPA), and Texas Data Privacy and Security Act (TDPSA) grant consumers similar rights.

  Access : Consumers can access their personal data held by businesses.

  Correction : Consumers can correct inaccurate data.

  Deletion : Consumers may request data deletion.

  Opt-Out : Consumers can opt-out of the sale of their personal data and targeted advertising.

  Oregon Consumer Privacy Act (OCPA)

  The Oregon Consumer Privacy Act (OCPA), signed into law on June 23, 2023, and effective as of July 1, 2024, grants Oregonians new rights regarding their personal data and imposes obligations on businesses. Starting July 1, 2025, authorities will enforce provisions that require data protection assessments, and businesses must recognize universal opt-out mechanisms by January 1, 2026. In Oregon, the OCPA applies to business that :

  • Either conduct business in Oregon or offer products and services to Oregon residents

  • Control or process the personal data of 100,000 consumers or more, or

  • Control or process the data of 25,000 or more consumers while receiving over 25% of their gross revenues from selling personal data.

  Exemptions include public bodies like state and local governments, financial institutions, and insurers that operate under specific financial regulations. The law also excludes protected health information covered by HIPAA and other specific federal regulations.

  Business obligations

  Data Protection Assessments : Businesses must conduct data protection assessments for high-risk processing activities, such as those involving sensitive data or targeting children.

  Consent for Sensitive Data : Businesses must secure explicit consent before collecting, processing, or selling sensitive personal data, such as racial or ethnic origin, religious beliefs, health information, biometric data, and geolocation.

  Universal Opt-out : Starting January 1, 2025, businesses must acknowledge universal opt-out mechanisms, like the Global Privacy Control, that allow consumers to opt out of data collection and processing activities.

  Enforcement

  The Oregon Attorney General can issue fines up to $7,500 per violation. There is no private right of action.

  Unique characteristics of the OCPA

  The OCPA differs from other state privacy laws by requiring affirmative opt-in consent for processing sensitive and children’s data, and by including nonprofit organisations under its scope. It also requires global browser opt-out mechanisms starting in 2026.

  Florida Digital Bill of Rights (FDBR)

  The Florida Digital Bill of Rights (FDBR) became law on June 6, 2023, and it came into effect on July 1, 2024. This law targets businesses with substantial operations or revenues tied to digital activities and seeks to protect the personal data of Florida residents by granting them greater control over their information and imposing stricter obligations on businesses. It applies to entities that :

  • Conduct business in Florida or provide products or services targeting Florida residents,

  • Have annual global gross revenues exceeding $1 billion,

  • Receive 50% or more of their revenues from digital advertising or operate significant digital platforms such as app stores or smart speakers with virtual assistants.

  Exemptions include governmental entities, nonprofits, financial institutions covered by the Gramm-Leach-Bliley Act, and entities covered by HIPAA.

  Business obligations

  Data Security Measures : Companies are required to implement reasonable data security measures to protect personal data from unauthorised access and breaches.

  Handling Sensitive Data : Explicit consent is required for processing sensitive data, which includes information like racial or ethnic origin, religious beliefs, and biometric data.

  Non-Discrimination : Entities must ensure they do not discriminate against consumers who exercise their privacy rights.

  Data Minimisation : Businesses must collect only necessary data.

  Vendor Management : Businesses must ensure that their processors and vendors also comply with the FDBR, regarding the secure handling and processing of personal data.

  Enforcement

  The Florida Attorney General can impose fines of up to $50,000 per violation, with higher penalties for intentional breaches.

  Unique characteristics of the FDBR

  Unlike broader privacy laws such as the California Consumer Privacy Act (CCPA), which apply to a wider range of businesses based on lower revenue thresholds and the volume of data processed, the FDBR distinguishes itself by targeting large-scale businesses with substantial revenues from digital advertising. The FDBR also emphasises specific consumer rights related to modern digital interactions, reflecting the evolving landscape of online privacy concerns.

  Texas Data Privacy and Security Act (TDPSA)

  The Texas Data Privacy and Security Act (TDPSA), signed into law on June 16, 2023, and effective as of July 1, 2024, enhances data protection for Texas residents. The TDPSA applies to entities that :

  • Conduct business in Texas or offer products or services to Texas residents.

  • Engage in processing or selling personal data.

  • Do not fall under the classification of small businesses according to the U.S. Small Business Administration’s criteria, which usually involve employee numbers or average annual receipts. 

  The law excludes state agencies, political subdivisions, financial institutions compliant with the Gramm-Leach-Bliley Act, and entities compliant with HIPAA.

  Business obligations

  Data Protection Assessments : Businesses must conduct data protection assessments for processing activities that pose a heightened risk of harm to consumers, such as processing for targeted advertising, selling personal data, or profiling.

  Consent for Sensitive Data : Businesses must get explicit consent before collecting, processing, or selling sensitive personal data, such as racial or ethnic origin, religious beliefs, health information, biometric data, and geolocation.

  Companies must have adequate data security practices based on the personal information they handle.

  Data Subject Access Requests (DSARs) : Businesses must respond to consumer requests regarding their personal data (e.g., access, correction, deletion) without undue delay, but no later than 45 days after receipt of the request.

  Sale of Data : If businesses sell personal data, they must disclose these practices to consumers and provide them with an option to opt out.

  Universal Opt-Out Compliance : Starting January 1, 2025, businesses must recognise universal opt-out mechanisms like the Global Privacy Control, enabling consumers to opt out of data collection and processing activities.

  Enforcement

  The Texas Attorney General can impose fines up to $25,000 per violation. There is no private right of action.

  Unique characteristics of the TDPSA

  The TDPSA stands out for its small business carve-out, lack of specific thresholds based on revenue or data volume, and requirements for recognising universal opt-out mechanisms starting in 2025. It also mandates consent for processing sensitive data and includes specific measures for data protection assessments and privacy notices.

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  Privacy notices across Florida, Oregon, and Texas

  All three laws include a mandate for privacy notices, though there are subtle variations in their specific requirements. Here’s a breakdown of these differences :

  FDBR privacy notice requirements

  Clarity : Privacy notices must clearly explain the collection and use of personal data.

  Disclosure : Notices must inform consumers about their rights, including the right to access, correct, delete their data, and opt-out of data sales and targeted advertising.

  Specificity : Businesses must disclose if they sell personal data or use it for targeted advertising.

  Security Practices : The notice should describe the data security measures in place.

  OCPA privacy notice requirements

  Comprehensive Information : Notices must provide information about the personal data collected, the purposes for processing, and any third parties that can access it.

  Consumer Rights : Must plainly outline consumers’ rights to access, correct, delete their data, and opt-out of data sales, targeted advertising, and profiling.

  Sensitive Data : To process sensitive data, businesses or entities must get explicit consent and communicate it.

  Universal Opt-Out : Starting January 1, 2026, businesses must recognise and honour universal opt-out mechanisms.

  TDPSA privacy notice requirements

  Detailed Notices : Must provide clear and detailed information about data collection practices, including the data collected and the purposes for its use.

  Consumer Rights : Must inform consumers of their rights to access, correct, delete their data, and opt-out of data sales and targeted advertising.

  High-Risk Processing : Notices should include information about any high-risk processing activities and the safeguards in place.

  Sensitive Data : To process sensitive data, entities and businesses must get explicit consent.

  What these laws mean for your businesses

  Businesses operating in Florida, Oregon, and Texas must now comply with these new data privacy laws. Here’s what you can do to avoid fines :

  1. Understand the Laws : Familiarise yourself with the specific requirements of the FDBR, OCPA, and TDPSA, including consumer rights and business obligations.

  2. Implement Data Protection Measures : Ensure you have robust data security measures in place. This includes conducting regular data protection assessments, especially for high-risk processing activities.

  3. Update Privacy Policies : Provide clear and comprehensive privacy notices that inform consumers about their rights and how their data is processed.

  4. Obtain Explicit Consent : For sensitive data, make sure you get explicit consent from consumers. This includes information like health, race, sexual orientation, and more.

  5. Manage Requests Efficiently : Be prepared to handle requests from consumers to access, correct, delete their data, and opt-out of data sales and targeted advertising within the stipulated timeframes.

  6. Recognise Opt-Out Mechanisms : For Oregon, businesses must be ready to implement and recognise universal opt-out mechanisms by January 1, 2026. In Texas, opt-out enforcement begins in 2026. In Florida, the specific opt-out provisions began on July 1, 2024.

  7. Stay Updated : Keep abreast of any changes or updates to these laws to ensure ongoing compliance. Keep an eye on the Matomo blog or sign up for our newsletter to stay in the know.

  Are we headed towards a more privacy-focused future in the United States ?

  Florida, Oregon, and Texas are joining states like California, Virginia, Colorado, Connecticut, Utah, Iowa, Indiana, Tennessee, and Montana in strengthening consumer privacy protections. This trend could signify a shift in US policy towards a more privacy-focused internet, underlining the importance of consumer data rights and transparent business practices. Even if these laws do not apply to your business, considering updates to your data and privacy policies is wise. Fortunately, there are tools and solutions designed for privacy and compliance to help you navigate these changes.

  Avoid fines and get better data with Matomo

  Most analytics tools don’t prioritize safeguarding user data. At Matomo, we believe everyone has the right to data sovereignty, privacy and amazing analytics. Matomo offers a solution that meets privacy regulations while delivering incredible insights. With Matomo, you get :

  100% Data Ownership : Keep full control over your data, ensuring it is used according to your privacy policies.

  Privacy Protection : Built with privacy in mind, Matomo helps businesses comply with privacy laws.

  Powerful Features : Gain insights with tools like heatmaps, session recordings, and A/B testing.

  Open Source : Matomo’s is open-source and committed to transparency and customisation.

  Flexibility : Choose to host Matomo on your servers or in the cloud for added security.

  No Data Sampling : Ensure accurate and complete insights without data sampling.

  Privacy Compliance : Easily meet GDPR and other requirements, with data stored securely and never sold or shared.

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  Disclaimer : This content is provided for informational purposes only and is not intended as legal advice. While we strive to ensure the accuracy and timeliness of the information provided, the laws and regulations surrounding privacy are complex and subject to change. We recommend consulting with a qualified legal professional to address specific legal issues related to your circumstances.