Companies of all sizes are racing against the clock to create online offerings that are as attractive as possible.
Businesses are beginning to realize that in order to retain and attract customers, they must make digital experiences simple and frictionless. By requiring people to constantly register and create passwords, you are increasing the likelihood that they will switch to competitors who offer a more fluid experience.
While customers want extraordinary online experiences, it is also important to them to be able enjoy these without having to compromise the security of their information.
research shows that 77% of people think they’ll never have full control over their privacy on the internet, but they accept automatically the terms and condition allowing companies to profit from your data.
Transparency is important.
In an ideal scenario, every business would be completely transparent about the way they collect, manage, store and share personal information. Unfortunately, this is not always the case. Many businesses do not fully disclose how they use customer data and take advantage of the gaps in regulation and public awareness.
As consumers become more aware about the value of their data, businesses need to realize that enhanced privacy measures are a competitive advantage.
Data privacy is a priority for any business that wants to gain the trust of consumers over time. If the business fails to take this step, it could lose out to competitors who do.
Improving digital data privacy
Businesses can improve their level of privacy and data security by taking a few key steps. Together, they can reduce the risks of data misuse while increasing customer confidence.
Progressive profiling is a good place to start. This strategy limits the amount of data collected about consumers by collecting smaller amounts incrementally, rather than all at once.
A business can collect customer data as they use their products and services, rather than bombarding them with dozens or questions in a signup form.
This reduces friction while also creating a more engaging customer experience. Each time a customer interacts with a company, they will be able see clearly when their data are being collected and shared.
Limit device monitoring
Businesses must also change their approach to collecting data from digital devices. Smart speakers and TVs are commonplace now, but customers don’t like to be inundated with pop-ups or emails for services or products they casually mentioned during a conversation.
In an ideal world, businesses should not send unsolicited digital communication to consumers. If a consumer makes a single purchase with a company that they are unlikely to do business with again, then they shouldn’t receive emails or text messages from the business offering additional deals or discounts.
Customers can have a more satisfying experience by not having to grant permission to cookies when asked. Customers should at least be able click on a “reject” button instead of having to go through a list of preferences.
Businesses should also be aware that it’s important to delete personal data when they are no longer needed, rather than hoarding all the information. Businesses should instead only collect the minimum amount of data necessary and dispose of it in a short time frame.
Customers should be able to easily understand data privacy policies. Instead of being presented with dense pages of text, policies should clearly be spelled out and in a format which is easy to understand.
Effective data privacy is now a reality
Businesses must make an effort to ensure that consumers’ data is protected.
Businesses who take the necessary measures to protect data privacy and improve digital experience are rewarded with an increasing number of customers. They also establish a relationship lasting for both parties that is mutually beneficial. Consider how a digital privacy strategy can benefit your business.