Marketing is increasingly going digital, and as the shift continues toward online consumerism, privacy has become a major concern for consumers. Max Hung of Gartner Inc. says, “We expect to see 20 billion internet-connected things by 2020.” And there is no evidence of that estimate slowing down. Companies today need to ensure that their consumers are informed of the information being collected on them: what you are collecting, why, and what you (and/or a third party) plan to do with it.
Everyday seems to bring news of data exposure or breaches, and even though 86% of online users take precautions to protect their private information, exposures can and do happen. Individual countries, states, industries, and companies need to be prepared for that misfortune, and there are several data privacy laws and regulations already in place (or on their way) across the world. Violations come at a steep price: hefty fines, damaged reputation, consumer mistrust, and product/label abandonment.
NOW is the time to ensure your marketing strategy aligns with existing and up-and-coming privacy regulations. A few ways to get your marketing privacy-complaint include: transparency of your data use, use of technology that is inherently privacy conscientious, and creation and adherence to strict company policy regarding the ownership, control, and sharing of consumer personal data.