"[Privacy] matters in so many ways. It has never been easier to start a business, to disrupt an incumbent in a business, to build a business. Because of that, consumers and prospects are just overwhelmed with options, which makes trust so much more scarce," says HubSpot CMO Kipp Bodnar.

On this episode of the Marketing Smarts Live Show, Kipp and host George B. Thomas get into the nitty-gritty of what's been on so many marketers minds recently: When given access to a customer's data, how are you going to use it?

The internet has created what Kipp calls a culture of abundance. And the easiest way to overcome that abundance and get people to notice you is to collect their data and use it in nefarious ways, resulting in "creepy" experiences for customers.

But taking the easy route never pans out, he insists: "If you make the decision to violate trust and squeeze out this month's or this quarter's results, you will fail.

"You won't fail tomorrow, you won't fail next month, but in the long run, the brand is going to decay, your engagement rates are going to go down, your search rankings are going to go down."

Check out the episode to hear more wisdom on how to ask the right questions to get the right data, and—once you have said data in hand—how not to "do dumb stuff" with it.