As the world becomes more conscious about their personal data and more legislation (GDPR, CCPA, PDPA etc.) around this now, business’s will need to be careful in how they handle data. Personal data protection has now become a top priority, not only for companies, for marketers as well.
Why should marketers care? Well aside from it being the law, brand reputation is also on the line here. Business benefits can be reaped easily by applying strict data privacy policies, even before they become law. These benefits include better brand perception, higher market valuation, being seen as an industry leader and since you’ve got a head start, it’ll save you costs as well.
Customers are wary and sceptical nowadays when asked for too much personal information, why do I have to enter my dog’s birthday and the first car my grandpa drove when I simply want to sign up to cat videos? The data policy must be transparent and concise, no more long-winded small prints that everyone scrolls to the bottom to click “accept”.
If you’ve been involved in a data privacy leak, even the best marketing campaigns will struggle to be effective as consumers simply cannot trust the company anymore. Be preventive rather than reactive in order to build and maintain customer trust.
How will you help drive data privacy in your organisation?
By: Matthew Lin