It isn’t rocket science — consumers want to do business with companies they trust. As the world becomes increasingly dematerialized and people take a greater interest in their digital selves, the foundations for strong data privacy is now of utmost importance for everyone. Consumers are increasingly choosing to give their business to companies that have strong data protection safeguards in place. In the event of a cyberattack, blame most often is placed squarely on the breached company, even above the hacker, according to the RSA Data Privacy and Security Survey 2019.
Blame translates into unhappy customers and, consequently, lost business. Companies that act now to build data privacy into their company’s foundation will be the ones that retain customer trust and flourish as a result.
Data privacy isn’t a set it and forget it endeavor. But there are steps you can take that will provide you with a strong foundation from which to continually build on.
The most important ingredient in any successful data privacy initiative is ensuring that it is ingrained across your company culture. Starting with your most senior executives, recognize the value of your data and demonstrate that understanding in everything you do, from IT to sales, marketing to engineering.
Take a closer look at best practices for protecting personally identifiable information (PII) by downloading our new eBook, 3 Overlooked Data Privacy Considerations.