For consumers to trust your brand and give you their business, they need to feel like data privacy is a priority
Today’s consumers are more concerned than ever about the privacy of their personal information. According to a report from PwC, most consumers (87%) say they would take their business somewhere else if they don’t believe a company is responsibly handling their data. Unfortunately, only 25% believe that most companies are responsibly handling their data.
The good news is that these numbers offer you an opportunity to change your practices and stand out to your customers and market. It starts by being more transparent and understanding why data privacy is so important to today’s consumers.
Recognizing consumers’ concerns with data privacy
Why are modern consumers so worried about data privacy? Probably the biggest reason is that so much information is shared online, and much of the time, customers don’t know what’s being done with that information.
The omnipresence of the internet means people and brands both create online personas or identities that may never truly reflect who they really are. This makes it harder to know what’s real and what’s fake, so consumers have become suspicious of the information they consume and give away online. And because much of a company’s marketing strategy revolves around digital messaging, users can become overwhelmed or annoyed quickly when they feel like they’re constantly targeted by online ads.
Additionally, many high-profile data breaches from companies like Yahoo, Facebook, and Microsoft, have contributed to consumer fear of sharing their personal information online.
Because of this landscape, customers now demand that brands be more transparent about what they’re doing with personal information. The same PwC report also shows that 92% of customers believe they should be in control of information about them online, yet only 10% think that they have complete control over their personal information.
So how can you meet the needs of these wary customers?
Put privacy and security first
It’s now a requirement that you implement best practices in cybersecurity and data privacy to meet these needs of your customers. Your strategy should implement the latest technologies so data can be handled responsibly and data breaches can be prevented.
Plans should be put in place to ensure that data is destroyed when it’s no longer needed, for example. And storage solutions such as the cloud should be mapped out so access controls and stricter guidelines are in place for more sensitive data.
Clearly communicate your practices with customers. Make it clear why you’re asking for information like their name and email address. Post your company policies online so everyone can read your procedures for protection whenever they have a question.
Let consumers know that you take data privacy seriously and that you are prioritizing security at all times. And, actually show them how you’re doing this.
Build customer trust
Your customers won’t trust your brand if you don’t follow through on your promises. Make sure everything you tell them is true. Never make a misleading statement or leave out important details. Make sure your messages are personal and genuine so customers don’t feel like all you care about is making the sale.
You should also make it clear what kind of value consumers will get from working with you, so focus more on those considerations than trying to convince them of something in a pushy manner. Empathize with your customers — what do they really care about?
The role of data privacy in the customer experience
When you build a privacy-first culture that’s focused on accountability, transparency, and a commitment to best practices in privacy and security, your customers will notice. In today’s climate, where customers are wary about sharing their information, a privacy-first approach is really a customer-first approach.
A Cisco consumer survey found that within the consumer group of “privacy actives” — customers who care about data privacy, are willing to act to protect it, and have already acted by switching companies over data policies — 90% believe that how companies treat data is how they treat their customers.
Let BDEX help you source the right data
When you can gather and analyze the right customer data, you have more opportunities to make real, human connections with the right people. When these connections are deep, your customers will trust your brand and be more willing to provide their information.
The data solutions from BDEX help you maintain your reputation as a responsible brand that protects the integrity of its customers. Cross-channel contact is a must so you can send more relevant and immediate messages to the right people at the right time.
Our data marketplace has over 6 billion unique IDs and over a trillion data signals. The BDEX Custom Audience Creator helps you use real-time data to initiate direct targeting with custom ads, helping you reach customers within your funnel within seconds.
Contact BDEX for more information.