Friday, January 28, 2022
Data privacy is now much more than a buzzword. It’s a requirement for every marketing leader and business owner. Here are four steps to make data privacy a reality in your organization.
Today, January 28, is National Data Privacy Day. Each year, Data Privacy Day gives us the opportunity to consider how much the world of data privacy has changed in the last year and think ahead to what new changes might be on the horizon. Data privacy is now much more than a buzzword. It’s a requirement for every marketing leader and business owner.
Over the past few years, we’ve seen some major developments in the push for ethical data use. Big tech has self-regulated. Google announced it will remove cookies from its platform by 2023. Apple gave users more control over how their data is shared across its devices. Facebook, also, has begun to reconsider its data collection practices amidst Congressional and public scrutiny.
We’ve also encountered some governmental efforts to protect consumer privacy. The California legislature expanded its consumer privacy laws, which will go into effect in January 2023. Congress just recently introduced legislation seeking to regulate the ways in which advertisers use data to target consumers. And these legislative pursuits are popular. Morning Consult and Politico report that 56% of US voters would support federal data privacy and protection laws.
Even if the current legislation on the table does not pass, it’s likely that there will be some form of federal legislation passed in the near future. Businesses will, at the very least, be required to inform users that they are collecting data, give them the option to opt out and provide them with what they have collected.
Ethical data practices are more than mere compliance, however. They are vital to protecting and preserving consumer confidence. With so many changes likely in the coming years, 2022 is a year in which marketers, advertisers and business owners must take data privacy seriously. With that in mind, I’ve put together a few steps which business leaders can take to collect and use data more ethically.
It’s no longer acceptable for your company to have a sole agent working to preserve consumer privacy. Data informs all parts of a modern business. It is crucial, therefore, that every person in the business be educated in your company’s data privacy practices. Transparency and permission should be at the forefront of these conversations. These two values and their widespread circulation throughout your company will help to protect consumers and instill confidence in your brand.
Let’s face the facts. Your company probably has much more data than it needs. It’s estimated that 80% of data that businesses store is unable or unnecessary. It’s time for your business to stop hoarding data and prioritize quality over quantity. Through a data minimization strategy, your business ensures that it only collects the data it needs to provide customers with a quality and personalized experience. Through letting go of unnecessary data, you play a large role in protecting consumer privacy.
When analyzing your data, it’s important to be aware of any collection imbalances you may have experienced. These imbalances can present or lead to harmful biases on the basis of age, gender, race or other demographic categories. It's important to anticipate these outcomes and avoid making decisions on their basis.
Many consumers don’t have a great deal of knowledge about data exchange. While they may know that they are sharing information by surfing the internet or using your business’ website, they’re probably unaware of what you’re doing with their data. It’s important to educate consumers in this regard. If your customers understand the benefits of data exchange – that it provides them with a better product and a more personalized user experience – then they will exhibit more confidence in your brand.
Making these simple changes to your company’s data privacy strategy will give you a competitive advantage in the years to come. Not only will you be better prepared for any policy changes, but you’ll also inspire consumer confidence and increase your brand’s reputation. Ethical marketing is crucial in the modern business world. Take the next step in your organization’s data privacy journey and join us as we build a better digital world together.
Data Privacy Day: 4 Steps for Success