In the era of technology, remote work, and heavy reliance on data, some organizations might feel overwhelmed with the challenge of finding a balance in investing in business growth while complying with data protection laws. One big tip for tech companies is to invest in consumer and partner trust.
In one of the latest KPMG studies, they found out that:
- 86% of the US general population say data privacy is a growing concern for them
- 68% are concerned about the level of data being collected by businesses
- And 40% don’t trust companies to ethically use their data
Not only do B2C companies need to take this kind of data under consideration, as B2B tech should too since most of their clients can be B2C companies worrying about compliance.
Data Privacy As Part of a Business Growth Strategy
As a tech company, investing in data privacy measures and management will be a part of your business anyway. With that in mind, we decided to show you a few ways you can take this investment and turn it into a business advantage.
- Use your data privacy measures in place to establish a reputation for protecting customer privacy
To use data privacy as a business advantage, your company’s first step should be to establish a reputation for protecting customer and partner data. Start by communicating, in detail, the measures your company takes to keep personal data secure. Be transparent and concise in your communication.
2. Position your company as a privacy and security leader in your field
As part of the data transparency process, the best way to communicate to your clients and partners how serious you are about data privacy and security is to create a trust center on your website. In the Trust Center, you can communicate, in detail, each step your company takes to secure personal data, showing your clients and prospects why they can trust you, and giving them the appropriate channel for a data subject request.
If you want to have more tips on data transparency, click here.
- Include Data Privacy in your brand strategy
The way a company deals with its data practices can send critical messages to the public regarding its business ethics and adaptation to the online culture. It can influence how clients, partners, and prospects view a company and how future and current employees perceive the workplace environment.
If you don’t have a data privacy program in place yet, book a free consultation with us today using the bottom below!
Want to know more about how you can use data privacy as a business advantage? Check our article The Benefits of Data Protection For B2B Tech Companies