Protecting your customers' data is protecting your brand
Posted: Mon Dec 09, 2024 10:50 am
According to a study conducted by Gartner, this year, more than 60% of large companies worldwide will have implemented a privacy management program.
To retain an increasingly demanding customer base, it is essential that consumers who choose your brand feel protected.
Companies are operating in a investor phone number data digital context that requires them to take privacy and cybersecurity into account in all areas of their activity. A good data protection policy not only serves to protect your brand image. If your customers feel safe, it is easier to earn their loyalty.
Until recently, your team members were probably tired of hearing about the importance of cybersecurity and privacy. By now, however, they themselves are aware that customers want to feel protected and that investing in cybersecurity is the right decision, as it benefits both consumers and the company itself.
Taking care of your cybersecurity and privacy policy will help you stand out from the competition.
Take your customers' concerns into account
Cybersecurity and privacy measures are not only for the protection of consumers, but are also important for the organization itself, since the processing of your customers' data can affect your loyalty rate.
Consumers want to be able to decide how their personal information is used. According to the results of the study, a large percentage of European consumers prefer that companies delete their data when they no longer need it. However, respondents are more concerned about their information being sold or shared with third parties.
Neglecting to protect your data can be detrimental in the long run, as customers will choose to switch companies if they believe yours is misusing their personal information.
“Forrester notes that “63% of (American) adults disagree with companies tracking their activity across devices to deliver more relevant advertising.”
Security affects all areas of your company
It's not just your customers you need to consider. Your data protection policy and cybersecurity measures can also influence the opinion of your suppliers.
According to Forrester, more than 25% of security breaches in companies are caused by third parties. For this reason, many companies decide to invest in third-party risk management, and internal security has become a priority in their strategic plans.
Such breaches often have consequences. As the report explains, “regulatory bodies can penalize you if you fail to comply with data protection laws . ” In fact, the EU General Data Protection Regulation can impose fines of up to 4% of revenue (or up to €20 million, depending on which figure is higher) on those who violate them.
Data protection laws are becoming more common around the world, and customers, suppliers and regulators are very vigilant about compliance.
To retain an increasingly demanding customer base, it is essential that consumers who choose your brand feel protected.
Companies are operating in a investor phone number data digital context that requires them to take privacy and cybersecurity into account in all areas of their activity. A good data protection policy not only serves to protect your brand image. If your customers feel safe, it is easier to earn their loyalty.
Until recently, your team members were probably tired of hearing about the importance of cybersecurity and privacy. By now, however, they themselves are aware that customers want to feel protected and that investing in cybersecurity is the right decision, as it benefits both consumers and the company itself.
Taking care of your cybersecurity and privacy policy will help you stand out from the competition.
Take your customers' concerns into account
Cybersecurity and privacy measures are not only for the protection of consumers, but are also important for the organization itself, since the processing of your customers' data can affect your loyalty rate.
Consumers want to be able to decide how their personal information is used. According to the results of the study, a large percentage of European consumers prefer that companies delete their data when they no longer need it. However, respondents are more concerned about their information being sold or shared with third parties.
Neglecting to protect your data can be detrimental in the long run, as customers will choose to switch companies if they believe yours is misusing their personal information.
“Forrester notes that “63% of (American) adults disagree with companies tracking their activity across devices to deliver more relevant advertising.”
Security affects all areas of your company
It's not just your customers you need to consider. Your data protection policy and cybersecurity measures can also influence the opinion of your suppliers.
According to Forrester, more than 25% of security breaches in companies are caused by third parties. For this reason, many companies decide to invest in third-party risk management, and internal security has become a priority in their strategic plans.
Such breaches often have consequences. As the report explains, “regulatory bodies can penalize you if you fail to comply with data protection laws . ” In fact, the EU General Data Protection Regulation can impose fines of up to 4% of revenue (or up to €20 million, depending on which figure is higher) on those who violate them.
Data protection laws are becoming more common around the world, and customers, suppliers and regulators are very vigilant about compliance.