Building Trust With Your Clients By Upping Your Privacy Game

Everyday we hear about a new data breach costing businesses millions and millions of dollars, (the average cost of a data breach is $4.24 million to be exact). These breaches are becoming more and more sophisticated, so it’s no wonder that more and more consumers are wary of which businesses they trust with their personal data. People are finally waking up to the fact that their data is valuable and that ‘Big Tech’ is monetizing off of their every digital move.

 

A 2021 survey conducted by Entrust found that nearly 80% of UK based citizens were concerned about their data privacy, and 64% of them have expressed their concern has grown since the start of 2019. Taking these stats into account, it should come as no surprise that consumers are the wariest of large brands and corporations when it comes to their personal data, with almost 80% of those surveyed saying they do not trust these established, global brands to protect their personal information. 

 

We believe by focussing your business on stricter consumer data protection protocols and by being open about them with your customers is a sure-fire strategy to building brand love and increasing the trust level of your customers.

 

Here are YEO’s list of best privacy practices:

 

  1. Be transparent:

Be more transparent with how and why you store your clients’ data. Consumers should be allowed to easily change or remove themselves from your company database and should be able to track exactly where their data is being stored. 

 

  1. Give consumers control over the data they share:

It goes without saying that businesses should already have control over their users’ personal data, however, this alone will not guarantee trust. Corporations have to implement an intuitive portal through which consumers can manage how and with whom their data is shared, or be able to adjust it as they see fit. Read this article for more information on how to set this up.

 

  1. When making decisions around privacy, focus on customer safety:

When it comes to deciding which privacy and security protocols fit best with your business, it is imperative to focus on what keeps users safe. Choose trustworthy data security partners, keep a keen eye on customer data that is no longer necessary to store and remove irrelevant data accordingly.

 

  1. Be clear with your data policies and consent management:

Don’t overcomplicate your policy statements and use language that your customers will understand. Announce any changes to them immediately and ensure that your users are always aware of their rights to privacy. Both the General Data Protection for EU (GDPR) and California Consumer Privacy Act (CCPA) are cracking down on businesses that do not respect their users’ privacy – putting a major focus on more transparent policies from businesses to their consumers, while additional privacy laws are coming into effect.

 

  1. Simplify the opting-out process:

With countless data breaches that have taken place in the last few years, the importance of open communication between brands and consumers has been highlighted. Companies must give their users the power to opt out of their database effortlessly, and ensure all of their data is deleted once complete. 

 

YEO is on a mission to build trust between businesses and their customers, find out how here